Wedgewood Partners Inc. Sells 628 Shares of CDW Co. (NASDAQ:CDW)

Wedgewood Partners Inc. decreased its holdings in CDW Co. (NASDAQ:CDW) by 0.7% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 95,851 shares of the information technology services provider’s stock after selling 628 shares during the period. CDW accounts for approximately 4.1% of Wedgewood Partners Inc.’s investment portfolio, making the stock its 14th biggest holding. Wedgewood Partners Inc.’s holdings in CDW were worth $21,691,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. PDS Planning Inc lifted its holdings in CDW by 4.3% in the third quarter. PDS Planning Inc now owns 1,186 shares of the information technology services provider’s stock valued at $268,000 after buying an additional 49 shares during the period. Oregon Public Employees Retirement Fund lifted its holdings in CDW by 0.5% in the second quarter. Oregon Public Employees Retirement Fund now owns 11,541 shares of the information technology services provider’s stock valued at $2,583,000 after buying an additional 54 shares during the period. Profund Advisors LLC lifted its holdings in CDW by 0.5% in the second quarter. Profund Advisors LLC now owns 12,469 shares of the information technology services provider’s stock valued at $2,791,000 after buying an additional 58 shares during the period. OneAscent Wealth Management LLC raised its holdings in shares of CDW by 2.5% during 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 period. Finally, Elo Mutual Pension Insurance Co raised its holdings in shares of CDW by 0.5% during the second quarter. Elo Mutual Pension Insurance Co now owns 12,301 shares of the information technology services provider’s stock valued at $2,753,000 after purchasing an additional 61 shares during the period. Institutional investors own 93.15% of the company’s stock.

CDW Trading Up 0.0 %

CDW opened at $178.30 on Friday. 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 Co. has a fifty-two week low of $172.95 and a fifty-two week high of $263.37. The firm has a market capitalization of $23.76 billion, a PE ratio of 21.80, a P/E/G ratio of 5.05 and a beta of 1.02. The company’s 50-day moving average is $201.24 and its 200 day moving average is $215.70.

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 analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $5.72 billion. During the same quarter in the prior year, the company earned $2.60 EPS. The company’s revenue was down 2.0% on a year-over-year basis. As a group, research analysts predict that CDW Co. will post 8.99 earnings per share for the current fiscal year.

CDW Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Monday, November 25th will be given a $0.625 dividend. This represents a $2.50 dividend on an annualized basis and a yield of 1.40%. This is an increase from CDW’s previous quarterly dividend of $0.62. The ex-dividend date of this dividend is Monday, November 25th. CDW’s dividend payout ratio is presently 30.56%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Redburn Atlantic assumed coverage on shares of CDW in a report on Friday, November 15th. They set a “buy” rating and a $230.00 price objective on the stock. JPMorgan Chase & Co. lowered 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. Barclays dropped their price objective on shares of CDW from $229.00 to $201.00 and set an “equal weight” rating on the stock in a report on Thursday, October 31st. Finally, Citigroup lowered shares of CDW from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $250.00 to $245.00 in a report on Tuesday, October 1st. Four 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 price target of $244.63.

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.