Princeton Global Asset Management LLC Trims Stock Holdings in CDW Co. (NASDAQ:CDW)

Princeton Global Asset Management LLC lowered its stake in shares of CDW Co. (NASDAQ:CDW) by 94.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 719 shares of the information technology services provider’s stock after selling 12,526 shares during the period. Princeton Global Asset Management LLC’s holdings in CDW were worth $125,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Canoe Financial LP purchased a new stake in shares of CDW in the third quarter worth $37,000. Fortitude Family Office LLC raised its holdings in shares of CDW by 350.0% in the 3rd quarter. Fortitude Family Office LLC now owns 171 shares of the information technology services provider’s stock valued at $39,000 after acquiring an additional 133 shares in the last quarter. Ashton Thomas Securities LLC bought a new stake in shares of CDW during the 3rd quarter valued at about $43,000. Covestor Ltd grew its holdings in shares of CDW by 80.1% during the third quarter. Covestor Ltd now owns 245 shares of the information technology services provider’s stock worth $55,000 after purchasing an additional 109 shares in the last quarter. Finally, ORG Wealth Partners LLC bought a new position in shares of CDW in the fourth quarter worth approximately $69,000. 93.15% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on CDW shares. Barclays cut 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. Morgan Stanley raised their price target on CDW from $190.00 to $193.00 and gave the company an “equal weight” rating in a research report on Monday, December 16th. Redburn Atlantic initiated coverage on CDW in a report on Friday, November 15th. They issued a “buy” rating and a $230.00 price objective for the company. JPMorgan Chase & Co. cut CDW from an “overweight” rating to a “neutral” rating and decreased their price objective for the company from $260.00 to $235.00 in a report on Monday, October 28th. Finally, UBS Group cut their target price on CDW from $233.00 to $220.00 and set a “buy” rating for the company in a research note on Tuesday, January 7th. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $239.33.

CDW Stock Down 0.4 %

Shares of CDW stock opened at $198.44 on Tuesday. 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 52-week low of $168.43 and a 52-week high of $263.37. The company’s 50 day moving average price is $182.06 and its 200-day moving average price is $202.83. The stock has a market capitalization of $26.44 billion, a price-to-earnings ratio of 24.26, a P/E/G ratio of 5.39 and a beta of 1.01.

CDW Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Monday, November 25th were paid a $0.625 dividend. The ex-dividend date was Monday, November 25th. This is a boost from CDW’s previous quarterly dividend of $0.62. This represents a $2.50 annualized dividend and a dividend yield of 1.26%. CDW’s dividend payout ratio (DPR) is presently 30.56%.

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.