Kathmere Capital Management LLC Lowers Position in CDW Co. (NASDAQ:CDW)

Kathmere Capital Management LLC trimmed its holdings in shares of CDW Co. (NASDAQ:CDW) by 13.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,098 shares of the information technology services provider’s stock after selling 328 shares during the quarter. Kathmere Capital Management LLC’s holdings in CDW were worth $365,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Quest Partners LLC purchased a new position in shares of CDW during the second quarter worth about $35,000. Canoe Financial LP purchased a new stake in CDW in the third quarter valued at approximately $37,000. Fortitude Family Office LLC lifted its position in CDW by 350.0% during the third quarter. Fortitude Family Office LLC now owns 171 shares of the information technology services provider’s stock valued at $39,000 after purchasing an additional 133 shares during the last quarter. Ashton Thomas Securities LLC purchased a new position in CDW in the 3rd quarter worth approximately $43,000. Finally, Covestor Ltd increased its holdings in shares of CDW by 80.1% in the 3rd quarter. Covestor Ltd now owns 245 shares of the information technology services provider’s stock worth $55,000 after buying an additional 109 shares during the last quarter. 93.15% of the stock is currently owned by institutional investors.

CDW Stock Performance

NASDAQ:CDW opened at $187.79 on Friday. The company has a debt-to-equity ratio of 2.39, a quick ratio of 1.28 and a current ratio of 1.40. CDW Co. has a fifty-two week low of $168.43 and a fifty-two week high of $263.37. The business has a 50 day moving average price of $179.35 and a 200-day moving average price of $205.58. The firm has a market cap of $25.02 billion, a PE ratio of 22.96, a price-to-earnings-growth ratio of 4.91 and a beta of 1.01.

CDW (NASDAQ:CDW) last announced its quarterly 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 net margin of 5.33% and a return on equity of 58.31%. The firm had revenue of $5.52 billion for the quarter, compared to analysts’ expectations of $5.72 billion. During the same period in the previous year, the company earned $2.60 EPS. The company’s quarterly revenue was down 2.0% on a year-over-year basis. Equities research analysts predict that CDW Co. will post 8.99 earnings per share for the current year.

CDW Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Monday, November 25th were issued a dividend of $0.625 per share. This represents a $2.50 dividend on an annualized basis and a yield of 1.33%. The ex-dividend date of this dividend was Monday, November 25th. This is an increase from CDW’s previous quarterly dividend of $0.62. CDW’s payout ratio is currently 30.56%.

Analyst Ratings Changes

A number of analysts have recently issued reports on CDW shares. JPMorgan Chase & Co. downgraded shares of CDW from an “overweight” rating to a “neutral” rating and dropped their price objective for the stock from $260.00 to $235.00 in a report on Monday, October 28th. Citigroup lowered CDW from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $250.00 to $245.00 in a research note on Tuesday, October 1st. Morgan Stanley increased their price objective on CDW from $190.00 to $193.00 and gave the company an “equal weight” rating in a research report on Monday, December 16th. UBS Group dropped their target price on CDW from $233.00 to $220.00 and set a “buy” rating for the company in a research report on Tuesday, January 7th. Finally, 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. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, CDW currently has an average rating of “Moderate Buy” and a consensus price target of $239.33.

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.