CDW Co. (NASDAQ:CDW) Position Lowered by Sanibel Captiva Trust Company Inc.

Sanibel Captiva Trust Company Inc. reduced its position in CDW Co. (NASDAQ:CDW) by 29.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,419 shares of the information technology services provider’s stock after selling 1,832 shares during the quarter. Sanibel Captiva Trust Company Inc.’s holdings in CDW were worth $769,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Canoe Financial LP bought a new stake in shares of CDW during the 3rd quarter valued at about $37,000. Fortitude Family Office LLC grew its holdings in shares of CDW by 350.0% during the third quarter. Fortitude Family Office LLC now owns 171 shares of the information technology services provider’s stock valued at $39,000 after purchasing an additional 133 shares during the last quarter. Ashton Thomas Securities LLC acquired a new stake in shares of CDW during the 3rd quarter worth approximately $43,000. Covestor Ltd raised its position in shares of CDW by 80.1% during the 3rd quarter. Covestor Ltd now owns 245 shares of the information technology services provider’s stock worth $55,000 after purchasing an additional 109 shares during the period. Finally, Kimelman & Baird LLC acquired a new position in CDW during the 2nd quarter valued at approximately $56,000. Institutional investors and hedge funds own 93.15% of the company’s stock.

CDW Stock Performance

CDW opened at $188.70 on Friday. CDW Co. has a 1-year low of $168.43 and a 1-year high of $263.37. The company has a market capitalization of $25.15 billion, a price-to-earnings ratio of 23.07, a price-to-earnings-growth ratio of 4.91 and a beta of 1.01. The business has a 50 day moving average price of $179.13 and a two-hundred day moving average price of $205.27. The company has a debt-to-equity ratio of 2.39, a current ratio of 1.40 and a quick ratio of 1.28.

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

CDW Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Monday, November 25th were issued a dividend of $0.625 per share. This represents a $2.50 annualized dividend and a yield of 1.32%. The ex-dividend date of this dividend was Monday, November 25th. This is an increase from CDW’s previous quarterly dividend of $0.62. CDW’s payout ratio is presently 30.56%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on CDW shares. Redburn Atlantic began coverage on CDW in a research report on Friday, November 15th. They issued a “buy” rating and a $230.00 target price on the stock. Barclays dropped their price objective on shares of CDW from $229.00 to $201.00 and set an “equal weight” rating on the stock in a report on Thursday, October 31st. UBS Group decreased their target price on shares of CDW from $233.00 to $220.00 and set a “buy” rating for the company in a research report on Tuesday, January 7th. JPMorgan Chase & Co. cut CDW from an “overweight” rating to a “neutral” rating and cut their price target for the company from $260.00 to $235.00 in a report on Monday, October 28th. Finally, Morgan Stanley increased their price objective on CDW from $190.00 to $193.00 and gave the stock an “equal weight” rating in a report on Monday, December 16th. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $239.33.

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.