Harbour Investments Inc. Has $264,000 Stock Holdings in CDW Co. (NASDAQ:CDW)

Harbour Investments Inc. cut its stake in shares of CDW Co. (NASDAQ:CDW) by 16.7% during the 3rd quarter, Holdings Channel reports. The fund owned 1,167 shares of the information technology services provider’s stock after selling 234 shares during the period. Harbour Investments Inc.’s holdings in CDW were worth $264,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Perpetual Ltd acquired a new position in CDW during the 3rd quarter valued at about $158,300,000. Lazard Asset Management LLC grew its stake in shares of CDW by 225.9% during the 1st quarter. Lazard Asset Management LLC now owns 881,586 shares of the information technology services provider’s stock worth $225,491,000 after acquiring an additional 611,054 shares during the period. Ceredex Value Advisors LLC purchased a new position in shares of CDW in the second quarter worth about $79,549,000. Canada Pension Plan Investment Board grew its stake in CDW by 2,045.4% in the 2nd quarter. Canada Pension Plan Investment Board now owns 294,302 shares of the information technology services provider’s stock valued at $65,877,000 after buying an additional 280,584 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD grew its position in shares of CDW by 46.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 620,190 shares of the information technology services provider’s stock valued at $158,634,000 after purchasing an additional 195,951 shares in the last quarter. Institutional investors own 93.15% of the company’s stock.

CDW Trading Down 1.7 %

Shares of CDW opened at $177.63 on Monday. The firm’s 50-day moving average price is $213.49 and its 200-day moving average price is $219.94. The company has a current ratio of 1.40, a quick ratio of 1.28 and a debt-to-equity ratio of 2.39. The firm has a market capitalization of $23.67 billion, a price-to-earnings ratio of 21.72, a PEG ratio of 4.96 and a beta of 1.05. CDW Co. has a 1-year low of $175.94 and a 1-year high of $263.37.

CDW (NASDAQ:CDW) last announced 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 business had revenue of $5.52 billion for the quarter, compared to the consensus estimate of $5.72 billion. CDW had a net margin of 5.33% and a return on equity of 58.31%. The business’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. Sell-side analysts anticipate that CDW Co. will post 9.05 EPS for the current year.

CDW Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Monday, November 25th will be paid a $0.625 dividend. This is a boost from CDW’s previous quarterly dividend of $0.62. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.41%. The ex-dividend date is Monday, November 25th. CDW’s dividend payout ratio is currently 30.32%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on CDW. Citigroup lowered shares of CDW from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $250.00 to $245.00 in a report on Tuesday, October 1st. Redburn Atlantic assumed coverage on CDW in a report on Friday. They set a “buy” rating and a $230.00 price objective on the stock. Barclays lowered their price target on shares of CDW from $229.00 to $201.00 and set an “equal weight” rating for the company in a research note on Thursday, October 31st. Finally, JPMorgan Chase & Co. lowered 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 research note on Monday, October 28th. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $244.63.

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.