Cabot Wealth Management Inc. Sells 351 Shares of CDW Co. (NASDAQ:CDW)

Cabot Wealth Management Inc. cut its stake in shares of CDW Co. (NASDAQ:CDW) by 0.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 68,364 shares of the information technology services provider’s stock after selling 351 shares during the period. CDW accounts for approximately 1.9% of Cabot Wealth Management Inc.’s portfolio, making the stock its 15th largest holding. Cabot Wealth Management Inc.’s holdings in CDW were worth $15,471,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of CDW. Tsfg LLC bought a new stake in shares of CDW during the first quarter valued at about $26,000. Rise Advisors LLC bought a new position in shares of CDW in the first quarter worth approximately $34,000. ORG Partners LLC bought a new position in shares of CDW in the second quarter worth approximately $34,000. Quest Partners LLC bought a new position in shares of CDW in the second quarter worth approximately $35,000. Finally, Summit Securities Group LLC bought a new position in shares of CDW in the second quarter worth approximately $40,000. 93.15% of the stock is currently owned by institutional investors.

CDW Price Performance

CDW traded down $3.35 during midday trading on Tuesday, hitting $220.13. The stock had a trading volume of 959,469 shares, compared to its average volume of 814,801. The company has a market cap of $29.59 billion, a P/E ratio of 27.63, a price-to-earnings-growth ratio of 3.42 and a beta of 1.03. The business has a fifty day moving average of $220.74 and a 200 day moving average of $226.71. The company has a debt-to-equity ratio of 2.03, a quick ratio of 1.02 and a current ratio of 1.13. CDW Co. has a 1 year low of $185.04 and a 1 year high of $263.37.

CDW (NASDAQ:CDW) last released its quarterly earnings data on Wednesday, July 31st. The information technology services provider reported $2.34 earnings per share for the quarter, missing analysts’ consensus estimates of $2.39 by ($0.05). The company had revenue of $5.42 billion for the quarter, compared to analysts’ expectations of $5.43 billion. CDW had a net margin of 5.29% and a return on equity of 62.22%. The business’s revenue for the quarter was down 3.6% compared to the same quarter last year. During the same period last year, the company posted $2.43 EPS. As a group, equities analysts forecast that CDW Co. will post 9.4 earnings per share for the current fiscal year.

CDW Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Monday, August 26th were paid a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a dividend yield of 1.13%. The ex-dividend date was Monday, August 26th. CDW’s dividend payout ratio (DPR) is presently 30.96%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on CDW shares. Citigroup cut shares of CDW from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $250.00 to $245.00 in a research report on Tuesday, October 1st. Stifel Nicolaus upped their price objective on shares of CDW from $250.00 to $260.00 and gave the stock a “buy” rating in a research report on Wednesday, July 17th. Finally, Barclays decreased their price objective on shares of CDW from $232.00 to $229.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 1st. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, CDW presently has a consensus rating of “Moderate Buy” and an average price target of $255.00.

Insider Activity

In other CDW news, insider Christine A. Leahy bought 1,200 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The stock was bought at an average price of $216.15 per share, for a total transaction of $259,380.00. Following the completion of the acquisition, the insider now directly owns 102,200 shares in the company, valued at $22,090,530. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.90% of the company’s stock.

CDW Company Profile

CDW Corporation provides information technology (IT) solutions in the United States, the United Kingdom, and Canada. It operates through three segments: Corporate, Small Business, and Public. The company offers discrete hardware and software products and services, as well as integrated IT solutions, including on-premise and cloud capabilities across hybrid infrastructure, digital experience, and security.