Cardinal Capital Management Inc. Sells 17,755 Shares of CDW Co. (NASDAQ:CDW)

Cardinal Capital Management Inc. decreased its holdings in shares of CDW Co. (NASDAQ:CDW) by 27.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 47,810 shares of the information technology services provider’s stock after selling 17,755 shares during the quarter. Cardinal Capital Management Inc.’s holdings in CDW were worth $8,321,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of CDW. Oddo BHF Asset Management Sas purchased a new position in shares of CDW during the third quarter valued at approximately $1,629,000. Assenagon Asset Management S.A. raised its stake in CDW by 7,549.9% in the fourth quarter. Assenagon Asset Management S.A. now owns 256,271 shares of the information technology services provider’s stock worth $44,601,000 after buying an additional 252,921 shares in the last quarter. Franklin Resources Inc. grew its holdings in shares of CDW by 3.4% during the 3rd quarter. Franklin Resources Inc. now owns 108,009 shares of the information technology services provider’s stock worth $24,138,000 after acquiring an additional 3,567 shares during the period. Czech National Bank lifted its position in CDW by 6.2% during the fourth quarter. Czech National Bank now owns 28,895 shares of the information technology services provider’s stock valued at $5,029,000 after buying an additional 1,685 shares during the period. Finally, United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund bought a new position in shares of CDW in the 3rd quarter worth about $12,761,000. 93.15% of the stock is currently owned by institutional investors.

CDW Trading Up 1.4 %

Shares of CDW stock opened at $194.30 on Thursday. The firm has a market cap of $25.89 billion, a P/E ratio of 23.75, a PEG ratio of 5.18 and a beta of 1.01. The company has a debt-to-equity ratio of 2.39, a current ratio of 1.40 and a quick ratio of 1.28. The firm’s 50-day simple moving average is $179.11 and its 200-day simple moving average is $204.73. CDW Co. has a 1-year low of $168.43 and a 1-year high of $263.37.

CDW (NASDAQ:CDW) last issued its quarterly earnings results on Wednesday, October 30th. The information technology services provider reported $2.63 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.68 by ($0.05). The company had revenue of $5.52 billion during 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%. The firm’s quarterly revenue was down 2.0% on a year-over-year basis. During the same quarter last year, the firm posted $2.60 EPS. As a group, equities analysts forecast that CDW Co. will post 8.99 EPS for the current year.

CDW Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Monday, November 25th were issued a dividend of $0.625 per share. This represents a $2.50 annualized dividend and a dividend yield of 1.29%. This is a positive change from CDW’s previous quarterly dividend of $0.62. The ex-dividend date of this dividend was Monday, November 25th. CDW’s payout ratio is currently 30.56%.

Analyst Ratings Changes

CDW has been the topic of a number of recent analyst reports. Morgan Stanley raised their price target on shares of CDW from $190.00 to $193.00 and gave the company an “equal weight” rating in a report on Monday, December 16th. Citigroup downgraded shares of CDW from a “buy” rating to a “neutral” rating and cut their target price for the stock from $250.00 to $245.00 in a research report on Tuesday, October 1st. UBS Group dropped their price target on CDW from $233.00 to $220.00 and set a “buy” rating on the stock in a research note on Tuesday, January 7th. Barclays reduced their price objective on CDW from $229.00 to $201.00 and set an “equal weight” rating for the company in a research report on Thursday, October 31st. Finally, Redburn Atlantic started 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. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, 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.