MML Investors Services LLC Sells 5,088 Shares of CDW Co. (NASDAQ:CDW)

MML Investors Services LLC lessened its holdings in CDW Co. (NASDAQ:CDW) by 40.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 7,542 shares of the information technology services provider’s stock after selling 5,088 shares during the quarter. MML Investors Services LLC’s holdings in CDW were worth $1,707,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of CDW. Massachusetts Financial Services Co. MA bought a new position in shares of CDW in the 3rd quarter valued at about $416,111,000. Janus Henderson Group PLC raised its position in shares of CDW by 7,029.1% in the 3rd 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 acquiring an additional 1,446,025 shares during the period. Holocene Advisors LP acquired a new stake in shares of CDW in the 3rd quarter valued at approximately $172,217,000. Perpetual Ltd acquired a new stake in shares of CDW in the 3rd quarter valued at approximately $158,300,000. Finally, Ceredex Value Advisors LLC acquired a new stake in shares of CDW in the 2nd quarter valued at approximately $79,549,000. Institutional investors own 93.15% of the company’s stock.

CDW Price Performance

NASDAQ CDW opened at $176.66 on Wednesday. The company has a quick ratio of 1.28, a current ratio of 1.40 and a debt-to-equity ratio of 2.39. CDW Co. has a 12-month low of $172.95 and a 12-month high of $263.37. The company has a market capitalization of $23.54 billion, a PE ratio of 21.60, a price-to-earnings-growth ratio of 5.01 and a beta of 1.02. The firm’s 50 day moving average is $195.27 and its 200-day moving average is $213.06.

CDW (NASDAQ:CDW) last posted its quarterly earnings data 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). CDW had a net margin of 5.33% and a return on equity of 58.31%. The business had revenue of $5.52 billion during the quarter, compared to analyst estimates of $5.72 billion. During the same quarter last year, the business earned $2.60 earnings per share. CDW’s revenue for the quarter was down 2.0% on a year-over-year basis. Equities research analysts anticipate that CDW Co. will post 8.99 earnings per share for the current fiscal year.

CDW Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Monday, November 25th were issued a $0.625 dividend. The ex-dividend date was Monday, November 25th. This is an increase from CDW’s previous quarterly dividend of $0.62. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.42%. CDW’s dividend payout ratio (DPR) is 30.56%.

Wall Street Analyst Weigh In

CDW has been the topic of a number of analyst reports. Barclays cut their price target 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. Morgan Stanley increased their price target on shares of CDW from $190.00 to $193.00 and gave the company an “equal weight” rating in a research report on Monday. Citigroup downgraded shares of CDW from a “buy” rating to a “neutral” rating and cut their price target for the company from $250.00 to $245.00 in a research report on Tuesday, October 1st. Redburn Atlantic began coverage on shares of CDW in a report on Friday, November 15th. They set a “buy” rating and a $230.00 target price on the stock. Finally, JPMorgan Chase & Co. downgraded shares of CDW from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $260.00 to $235.00 in a report on Monday, October 28th. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $241.75.

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.