Tranquility Partners LLC Lowers Position in CDW Co. (NASDAQ:CDW)

Tranquility Partners LLC decreased its position in CDW Co. (NASDAQ:CDW) by 2.0% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,854 shares of the information technology services provider’s stock after selling 80 shares during the period. Tranquility Partners LLC’s holdings in CDW were worth $872,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of CDW. Perpetual Ltd purchased a new position in CDW in the 3rd quarter valued at $158,300,000. Lazard Asset Management LLC boosted its position in CDW by 225.9% during the first quarter. Lazard Asset Management LLC now owns 881,586 shares of the information technology services provider’s stock worth $225,491,000 after acquiring an additional 611,054 shares during the last quarter. Ceredex Value Advisors LLC purchased a new stake in CDW during the 2nd quarter valued at about $79,549,000. Canada Pension Plan Investment Board grew its stake in CDW by 2,045.4% during the 2nd quarter. Canada Pension Plan Investment Board now owns 294,302 shares of the information technology services provider’s stock valued at $65,877,000 after acquiring an additional 280,584 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its stake in CDW by 46.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 620,190 shares of the information technology services provider’s stock worth $158,634,000 after purchasing an additional 195,951 shares in the last quarter. Institutional investors and hedge funds own 93.15% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on CDW shares. Redburn Atlantic assumed coverage on CDW in a report on Friday. They issued a “buy” rating and a $230.00 target price for the company. JPMorgan Chase & Co. downgraded shares of CDW from an “overweight” rating to a “neutral” rating and cut their price target for the stock from $260.00 to $235.00 in a report on Monday, October 28th. Citigroup lowered shares of CDW from a “buy” rating to a “neutral” rating and reduced their price target for the company from $250.00 to $245.00 in a research report on Tuesday, October 1st. Finally, Barclays cut their target price on CDW from $229.00 to $201.00 and set an “equal weight” rating for the company in a research note on Thursday, October 31st. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $244.63.

CDW Trading Up 0.2 %

CDW opened at $178.07 on Tuesday. CDW Co. has a 52 week low of $175.94 and a 52 week high of $263.37. The company has a quick ratio of 1.28, a current ratio of 1.40 and a debt-to-equity ratio of 2.39. The business has a fifty day simple moving average of $212.76 and a 200-day simple moving average of $219.65. The firm has a market cap of $23.73 billion, a P/E ratio of 21.77, a P/E/G ratio of 4.96 and a beta of 1.05.

CDW (NASDAQ:CDW) last issued its quarterly earnings results on Wednesday, October 30th. The information technology services provider reported $2.63 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.68 by ($0.05). The business had revenue of $5.52 billion for the quarter, compared to analysts’ expectations of $5.72 billion. CDW had a return on equity of 58.31% and a net margin of 5.33%. The firm’s revenue for the quarter was down 2.0% on a year-over-year basis. During the same quarter last year, the company earned $2.60 earnings per share. On average, equities analysts expect that CDW Co. will post 9.05 earnings per share for the current year.

CDW Increases Dividend

The business also recently announced 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%. This is a boost from CDW’s previous quarterly dividend of $0.62. The ex-dividend date of this dividend is Monday, November 25th. CDW’s payout ratio 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.