City Holding Co. Sells 1,580 Shares of CDW Co. (NASDAQ:CDW)

City Holding Co. trimmed its stake in shares of CDW Co. (NASDAQ:CDW) by 24.1% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 4,989 shares of the information technology services provider’s stock after selling 1,580 shares during the quarter. City Holding Co.’s holdings in CDW were worth $868,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. PDS Planning Inc raised its position in CDW by 4.3% during the third quarter. PDS Planning Inc now owns 1,186 shares of the information technology services provider’s stock valued at $268,000 after purchasing an additional 49 shares in the last quarter. Profund Advisors LLC increased its stake in shares of CDW by 0.5% in the 2nd quarter. Profund Advisors LLC now owns 12,469 shares of the information technology services provider’s stock valued at $2,791,000 after purchasing an additional 58 shares during the last quarter. OneAscent Wealth Management LLC raised its holdings in shares of CDW by 2.5% during the 3rd quarter. OneAscent Wealth Management LLC now owns 2,387 shares of the information technology services provider’s stock worth $540,000 after buying an additional 58 shares in the last quarter. Fulcrum Equity Management lifted its position in shares of CDW by 4.3% during the 3rd quarter. Fulcrum Equity Management now owns 1,442 shares of the information technology services provider’s stock worth $326,000 after buying an additional 60 shares during the last quarter. Finally, WCM Investment Management LLC boosted its stake in CDW by 4.6% in the third quarter. WCM Investment Management LLC now owns 1,380 shares of the information technology services provider’s stock valued at $313,000 after buying an additional 61 shares in the last quarter. 93.15% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

CDW Price Performance

CDW stock opened at $188.70 on Tuesday. The firm has a market cap of $25.15 billion, a P/E ratio of 23.07, a P/E/G ratio of 4.91 and a beta of 1.01. The stock’s 50 day moving average is $178.95 and its 200 day moving average is $204.97. 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 Co. has a one year low of $168.43 and a one year high of $263.37.

CDW (NASDAQ:CDW) last posted 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). CDW had a net margin of 5.33% and a return on equity of 58.31%. The firm had revenue of $5.52 billion during the quarter, compared to the consensus estimate of $5.72 billion. During the same period in the prior year, the company posted $2.60 earnings per share. The company’s revenue for the quarter was down 2.0% compared to the same quarter last year. As a group, research analysts expect that CDW Co. will post 8.99 EPS for the current year.

CDW Increases Dividend

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

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.