CDW Co. (NASDAQ:CDW) Shares Sold by Tranquility Partners LLC

Tranquility Partners LLC lowered its stake in shares of CDW Co. (NASDAQ:CDW) by 2.0% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,854 shares of the information technology services provider’s stock after selling 80 shares during the quarter. Tranquility Partners LLC’s holdings in CDW were worth $872,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of CDW. OneAscent Wealth Management LLC grew its holdings in CDW by 2.5% in the third quarter. OneAscent Wealth Management LLC now owns 2,387 shares of the information technology services provider’s stock valued at $540,000 after purchasing an additional 58 shares during the last quarter. LMR Partners LLP purchased a new stake in CDW in the 3rd quarter worth approximately $381,000. Swiss National Bank lifted its position in CDW by 0.4% during the third quarter. Swiss National Bank now owns 398,900 shares of the information technology services provider’s stock worth $90,271,000 after buying an additional 1,500 shares during the period. Thrivent Financial for Lutherans boosted its position 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 worth $135,758,000 after acquiring an additional 68,023 shares during the last quarter. Finally, RiverPark Advisors LLC grew its stake in shares of CDW by 5.8% during the 3rd quarter. RiverPark Advisors LLC now owns 5,549 shares of the information technology services provider’s stock valued at $1,256,000 after buying an additional 305 shares during the period. Institutional investors and hedge funds own 93.15% of the company’s stock.

Analyst Upgrades and Downgrades

CDW has been the topic of a number of recent research reports. Citigroup cut CDW from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $250.00 to $245.00 in a research note on Tuesday, October 1st. Redburn Atlantic initiated coverage on CDW in a report on Friday. They issued a “buy” rating and a $230.00 price objective for the company. Barclays reduced 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. Finally, JPMorgan Chase & Co. downgraded CDW from an “overweight” rating to a “neutral” rating and lowered their price objective for the stock 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 given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $244.63.

CDW Price Performance

CDW opened at $178.07 on Tuesday. The company’s 50 day simple moving average is $212.76 and its 200-day simple moving average is $219.65. The stock has a market capitalization of $23.73 billion, a P/E ratio of 21.77, a price-to-earnings-growth ratio of 4.96 and a beta of 1.05. CDW Co. has a one year low of $175.94 and a one 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 announced its quarterly 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 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 revenue was down 2.0% compared to the same quarter last year. During the same period last year, the company earned $2.60 earnings per share. Sell-side analysts anticipate that CDW Co. will post 9.05 earnings per share for the current fiscal year.

CDW Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Monday, November 25th will be paid a dividend of $0.625 per share. This represents a $2.50 annualized dividend and a yield of 1.40%. The ex-dividend date is Monday, November 25th. This is an increase from CDW’s previous quarterly dividend of $0.62. CDW’s dividend payout ratio (DPR) is presently 30.32%.

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.