Chesley Taft & Associates LLC Sells 975 Shares of CDW Co. (NASDAQ:CDW)

Chesley Taft & Associates LLC cut its stake in CDW Co. (NASDAQ:CDW) by 17.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,517 shares of the information technology services provider’s stock after selling 975 shares during the period. Chesley Taft & Associates LLC’s holdings in CDW were worth $786,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the stock. State Street Corp raised its stake in CDW by 1.1% in the third quarter. State Street Corp now owns 5,719,348 shares of the information technology services provider’s stock valued at $1,294,288,000 after purchasing an additional 64,702 shares in the last quarter. Geode Capital Management LLC increased its holdings in CDW by 0.9% in the 3rd quarter. Geode Capital Management LLC now owns 3,481,064 shares of the information technology services provider’s stock valued at $785,635,000 after buying an additional 31,858 shares during the period. Massachusetts Financial Services Co. MA acquired a new position in shares of CDW in the 3rd quarter valued at approximately $416,111,000. Janus Henderson Group PLC lifted its holdings in shares of CDW by 7,029.1% during the 3rd quarter. Janus Henderson Group PLC now owns 1,466,597 shares of the information technology services provider’s stock worth $331,891,000 after acquiring an additional 1,446,025 shares during the period. Finally, Barclays PLC lifted its holdings in shares of CDW by 0.3% during the 3rd quarter. Barclays PLC now owns 1,156,789 shares of the information technology services provider’s stock worth $261,779,000 after acquiring an additional 3,424 shares during the period. 93.15% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

CDW has been the subject of several research analyst reports. Redburn Atlantic started coverage on shares of CDW in a research report on Friday, November 15th. They set a “buy” rating and a $230.00 price objective for the company. Morgan Stanley boosted their price target on CDW from $190.00 to $193.00 and gave the stock an “equal weight” rating in a report on Monday, December 16th. JPMorgan Chase & Co. downgraded 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 research report on Monday, October 28th. Citigroup cut CDW from a “buy” rating to a “neutral” rating and decreased their target price for the company from $250.00 to $245.00 in a research report on Tuesday, October 1st. Finally, Barclays dropped their target price on shares of CDW from $229.00 to $201.00 and set an “equal weight” rating for the company in a report on Thursday, October 31st. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $239.33.

CDW Stock Performance

Shares of CDW stock opened at $191.59 on Wednesday. The firm has a market capitalization of $25.53 billion, a price-to-earnings ratio of 23.42, a PEG ratio of 5.11 and a beta of 1.01. The company has a current ratio of 1.40, a quick ratio of 1.28 and a debt-to-equity ratio of 2.39. The business’s 50-day moving average price is $178.94 and its 200-day moving average price is $204.80. CDW Co. has a 12 month low of $168.43 and a 12 month high of $263.37.

CDW (NASDAQ:CDW) last posted its earnings results on Wednesday, October 30th. The information technology services provider reported $2.63 EPS for the quarter, missing the consensus estimate 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 for the quarter, compared to analyst estimates of $5.72 billion. During the same quarter in the prior year, the business earned $2.60 earnings per share. The firm’s quarterly revenue was down 2.0% on a year-over-year basis. Equities research analysts forecast that CDW Co. will post 8.99 EPS for the current year.

CDW Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Monday, November 25th were paid a $0.625 dividend. This is a boost from CDW’s previous quarterly dividend of $0.62. The ex-dividend date of this dividend was Monday, November 25th. This represents a $2.50 annualized dividend and a dividend yield of 1.30%. CDW’s payout ratio is currently 30.56%.

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.