Simon Quick Advisors LLC Lowers Stake in CDW Co. (NASDAQ:CDW)

Simon Quick Advisors LLC cut its stake in CDW Co. (NASDAQ:CDW) by 11.4% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 4,892 shares of the information technology services provider’s stock after selling 629 shares during the period. Simon Quick Advisors LLC’s holdings in CDW were worth $851,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Oddo BHF Asset Management Sas purchased a new stake in CDW during the 3rd quarter valued at $1,629,000. Assenagon Asset Management S.A. boosted its holdings in shares of CDW by 7,549.9% during 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 purchasing an additional 252,921 shares during the period. Franklin Resources Inc. grew its stake in shares of CDW by 3.4% in the third quarter. Franklin Resources Inc. now owns 108,009 shares of the information technology services provider’s stock worth $24,138,000 after purchasing an additional 3,567 shares during the last quarter. Czech National Bank increased its holdings in CDW by 6.2% during the 4th quarter. Czech National Bank now owns 28,895 shares of the information technology services provider’s stock valued at $5,029,000 after purchasing 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 CDW during the 3rd quarter valued at approximately $12,761,000. Institutional investors own 93.15% of the company’s stock.

CDW Stock Performance

CDW stock opened at $194.30 on Thursday. CDW Co. has a twelve month low of $168.43 and a twelve month high of $263.37. The company has a quick ratio of 1.28, a current ratio of 1.40 and a debt-to-equity ratio of 2.39. The company has a market capitalization of $25.89 billion, a P/E ratio of 23.75, a PEG ratio of 5.11 and a beta of 1.01. The stock’s 50 day moving average is $179.11 and its 200 day moving average is $204.73.

CDW (NASDAQ:CDW) last released its earnings results 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 during the quarter, compared to analysts’ expectations of $5.72 billion. CDW had a return on equity of 58.31% and a net margin of 5.33%. The company’s revenue was down 2.0% on a year-over-year basis. During the same period in the prior year, the company posted $2.60 earnings per share. On average, equities research analysts predict that CDW Co. will post 8.99 earnings per share for the current fiscal year.

CDW Increases Dividend

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

Wall Street Analysts Forecast Growth

CDW has been the topic of a number of recent analyst reports. Citigroup lowered CDW from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $250.00 to $245.00 in a research report on Tuesday, October 1st. Barclays reduced their price objective on shares of CDW from $229.00 to $201.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 31st. Redburn Atlantic initiated coverage on shares of CDW in a research report on Friday, November 15th. They issued a “buy” rating and a $230.00 target price for the company. JPMorgan Chase & Co. cut shares of CDW from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $260.00 to $235.00 in a research report on Monday, October 28th. Finally, UBS Group lowered their price objective 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. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $239.33.

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.