CDW Co. (NASDAQ:CDW) Shares Sold by Retirement Systems of Alabama

Retirement Systems of Alabama lowered its holdings in CDW Co. (NASDAQ:CDW) by 1.9% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 29,093 shares of the information technology services provider’s stock after selling 554 shares during the quarter. Retirement Systems of Alabama’s holdings in CDW were worth $6,584,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of CDW. Oddo BHF Asset Management Sas purchased a new position in shares of CDW during the 3rd quarter worth approximately $1,629,000. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund acquired a new position in CDW during the third quarter worth $12,761,000. Raymond James & Associates boosted its position in shares of CDW by 16.6% during the second quarter. Raymond James & Associates now owns 139,711 shares of the information technology services provider’s stock worth $31,273,000 after buying an additional 19,867 shares during the period. Thrivent Financial for Lutherans grew its stake in shares of CDW by 12.8% in the third quarter. Thrivent Financial for Lutherans now owns 599,900 shares of the information technology services provider’s stock valued at $135,758,000 after buying an additional 68,023 shares in the last quarter. Finally, Exchange Traded Concepts LLC raised its holdings in shares of CDW by 50.7% in the 3rd quarter. Exchange Traded Concepts LLC now owns 2,398 shares of the information technology services provider’s stock valued at $543,000 after buying an additional 807 shares during the period. Institutional investors and hedge funds own 93.15% of the company’s stock.

CDW Stock Down 2.9 %

CDW stock opened at $171.49 on Thursday. The stock’s fifty day moving average is $194.33 and its two-hundred day moving average is $212.73. The stock has a market cap of $22.85 billion, a PE ratio of 20.96, a P/E/G ratio of 5.01 and a beta of 1.02. CDW Co. has a 1-year low of $170.68 and a 1-year 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.

CDW (NASDAQ:CDW) last posted 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 return on equity of 58.31% and a net margin of 5.33%. The business had revenue of $5.52 billion for the quarter, compared to analysts’ expectations of $5.72 billion. During the same quarter in the previous year, the firm earned $2.60 EPS. CDW’s revenue for the quarter was down 2.0% compared to the same quarter last year. On average, sell-side analysts expect that CDW Co. will post 8.99 EPS for the current fiscal year.

CDW Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Monday, November 25th were paid a dividend of $0.625 per share. This is a positive change from CDW’s previous quarterly dividend of $0.62. This represents a $2.50 annualized dividend and a yield of 1.46%. The ex-dividend date of this dividend was Monday, November 25th. CDW’s dividend payout ratio (DPR) is currently 30.56%.

Analysts Set New Price Targets

A number of equities analysts recently commented on CDW shares. 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. JPMorgan Chase & Co. cut shares of CDW from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $260.00 to $235.00 in a report on Monday, October 28th. Citigroup cut shares of CDW from a “buy” rating to a “neutral” rating and decreased their price target for the company from $250.00 to $245.00 in a research report on Tuesday, October 1st. Morgan Stanley upped their price objective on CDW from $190.00 to $193.00 and gave the stock an “equal weight” rating in a research report on Monday. Finally, Redburn Atlantic started coverage on CDW in a research note on Friday, November 15th. They set a “buy” rating and a $230.00 target price for the company. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $241.75.

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.