CDW Co. (NASDAQ:CDW) Shares Sold by Litman Gregory Wealth Management LLC

Litman Gregory Wealth Management LLC decreased its stake in CDW Co. (NASDAQ:CDW) by 0.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 37,181 shares of the information technology services provider’s stock after selling 279 shares during the period. Litman Gregory Wealth Management LLC’s holdings in CDW were worth $6,471,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Massachusetts Financial Services Co. MA purchased a new stake in shares of CDW in the 3rd quarter worth about $416,111,000. Janus Henderson Group PLC grew its position in shares of CDW by 7,029.1% in the third quarter. Janus Henderson Group PLC now owns 1,466,597 shares of the information technology services provider’s stock valued at $331,891,000 after purchasing an additional 1,446,025 shares during the last quarter. Holocene Advisors LP purchased a new position in shares of CDW during the 3rd quarter worth approximately $172,217,000. Perpetual Ltd acquired a new position in shares of CDW during the 3rd quarter worth approximately $158,300,000. Finally, Assenagon Asset Management S.A. lifted its stake in CDW by 7,549.9% in the 4th quarter. Assenagon Asset Management S.A. now owns 256,271 shares of the information technology services provider’s stock valued at $44,601,000 after buying an additional 252,921 shares in the last quarter. Hedge funds and other institutional investors own 93.15% of the company’s stock.

CDW Trading Up 0.7 %

CDW opened at $199.14 on Friday. CDW Co. has a 12-month low of $168.43 and a 12-month high of $263.37. 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 stock has a market capitalization of $26.54 billion, a PE ratio of 24.34, a P/E/G ratio of 5.29 and a beta of 1.01. The firm’s fifty day moving average price is $181.72 and its 200 day moving average price is $203.57.

CDW (NASDAQ:CDW) last issued its 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 analyst estimates of $5.72 billion. CDW had a net margin of 5.33% and a return on equity of 58.31%. The business’s revenue for the quarter was down 2.0% compared to the same quarter last year. During the same quarter last year, the company posted $2.60 EPS. As a group, research analysts expect that CDW Co. will post 8.99 EPS for the current fiscal 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 $0.625 dividend. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.26%. This is an increase 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 30.56%.

Analysts Set New Price Targets

CDW has been the subject of several recent research reports. Barclays dropped their price target 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. UBS Group reduced their target price on shares of CDW from $233.00 to $220.00 and set a “buy” rating on the stock in a report on Tuesday, January 7th. Morgan Stanley lifted their price target 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 assumed coverage on shares of CDW in a research note on Friday, November 15th. They set a “buy” rating and a $230.00 price objective on the stock. Finally, JPMorgan Chase & Co. cut shares of CDW from an “overweight” rating to a “neutral” rating and lowered their target price for the stock from $260.00 to $235.00 in a research note on Monday, October 28th. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, CDW currently has an average rating of “Moderate Buy” and an average target price of $239.33.

CDW 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.