DRW Securities LLC Decreases Stake in CDW Co. (NASDAQ:CDW)

DRW Securities LLC trimmed its holdings in shares of CDW Co. (NASDAQ:CDW) by 18.7% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,041 shares of the information technology services provider’s stock after selling 239 shares during the quarter. DRW Securities LLC’s holdings in CDW were worth $236,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of CDW. Harvest Fund Management Co. Ltd increased its holdings in CDW by 48.2% during the 3rd quarter. Harvest Fund Management Co. Ltd now owns 6,153 shares of the information technology services provider’s stock worth $1,392,000 after purchasing an additional 2,002 shares during the last quarter. Daiwa Securities Group Inc. grew its position in shares of CDW by 20.6% during the third quarter. Daiwa Securities Group Inc. now owns 26,999 shares of the information technology services provider’s stock worth $6,110,000 after buying an additional 4,620 shares in the last quarter. Summit Trail Advisors LLC increased its stake in shares of CDW by 5.3% in the third quarter. Summit Trail Advisors LLC now owns 3,984 shares of the information technology services provider’s stock worth $902,000 after buying an additional 199 shares during the last quarter. Swedbank AB raised its holdings in CDW by 1.8% in the third quarter. Swedbank AB now owns 52,123 shares of the information technology services provider’s stock valued at $11,795,000 after acquiring an additional 928 shares in the last quarter. Finally, Cerity Partners LLC boosted its stake in CDW by 18.9% during the 3rd quarter. Cerity Partners LLC now owns 39,301 shares of the information technology services provider’s stock valued at $8,894,000 after acquiring an additional 6,235 shares during the last quarter. Institutional investors and hedge funds own 93.15% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. JPMorgan Chase & Co. downgraded shares of CDW from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $260.00 to $235.00 in a research report on Monday, October 28th. Barclays lowered their price objective on CDW from $229.00 to $201.00 and set an “equal weight” rating for the company in a report on Thursday, October 31st. Redburn Atlantic assumed coverage on CDW in a report on Friday, November 15th. They set a “buy” rating and a $230.00 target price on the stock. Finally, Citigroup downgraded CDW from a “buy” rating to a “neutral” rating and lowered their price target for the company from $250.00 to $245.00 in a report on Tuesday, October 1st. Four analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, CDW currently has a consensus rating of “Moderate Buy” and a consensus target price of $244.63.

CDW Stock Down 0.6 %

NASDAQ:CDW opened at $176.75 on Thursday. The company has a current ratio of 1.40, a quick ratio of 1.28 and a debt-to-equity ratio of 2.39. The stock has a 50 day moving average of $207.78 and a 200-day moving average of $217.81. The firm has a market capitalization of $23.55 billion, a PE ratio of 21.61, a price-to-earnings-growth ratio of 5.10 and a beta of 1.05. CDW Co. has a 52 week low of $172.95 and a 52 week high of $263.37.

CDW (NASDAQ:CDW) last issued its quarterly earnings data on Wednesday, October 30th. The information technology services provider reported $2.63 EPS for the quarter, missing analysts’ consensus estimates of $2.68 by ($0.05). The company had revenue of $5.52 billion for the quarter, compared to the consensus estimate of $5.72 billion. CDW had a return on equity of 58.31% and a net margin of 5.33%. CDW’s quarterly revenue was down 2.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.60 earnings per share. Analysts predict that CDW Co. will post 8.99 EPS for the current year.

CDW Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Monday, November 25th will be paid a dividend of $0.625 per share. This represents a $2.50 dividend on an annualized basis and a yield of 1.41%. This is a positive change from CDW’s previous quarterly dividend of $0.62. The ex-dividend date of this dividend is Monday, November 25th. CDW’s payout ratio is presently 30.56%.

About CDW

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.