CDW Co. (NASDAQ:CDW) Shares Sold by Argent Capital Management LLC

Argent Capital Management LLC lessened its stake in shares of CDW Co. (NASDAQ:CDW) by 88.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,683 shares of the information technology services provider’s stock after selling 29,336 shares during the quarter. Argent Capital Management LLC’s holdings in CDW were worth $641,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of CDW. PDS Planning Inc increased its position in CDW by 4.3% during the 3rd quarter. PDS Planning Inc now owns 1,186 shares of the information technology services provider’s stock worth $268,000 after purchasing an additional 49 shares during the period. Profund Advisors LLC boosted its stake in shares of 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 in the last quarter. OneAscent Wealth Management LLC grew its holdings in 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 worth $540,000 after acquiring an additional 58 shares during the period. Fulcrum Equity Management raised its position in CDW by 4.3% in the third quarter. Fulcrum Equity Management now owns 1,442 shares of the information technology services provider’s stock worth $326,000 after acquiring an additional 60 shares in the last quarter. Finally, Elo Mutual Pension Insurance Co lifted its holdings in CDW by 0.5% in 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 acquiring an additional 61 shares during the period. 93.15% of the stock is owned by institutional investors and hedge funds.

CDW Stock Performance

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

CDW (NASDAQ:CDW) last released its 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 firm had revenue of $5.52 billion during the quarter, compared to analysts’ expectations of $5.72 billion. CDW had a net margin of 5.33% and a return on equity of 58.31%. CDW’s revenue for the quarter was down 2.0% on a year-over-year basis. During the same quarter last year, the company posted $2.60 earnings per share. As a group, analysts predict that CDW Co. will post 8.99 earnings per share for the current fiscal year.

CDW Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders 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. This represents a $2.50 annualized dividend and a yield of 1.33%. The ex-dividend date was Monday, November 25th. CDW’s payout ratio is presently 30.56%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on CDW shares. Redburn Atlantic started coverage on shares of CDW in a research note on Friday, November 15th. They set a “buy” rating and a $230.00 price target on the stock. Barclays lowered their target price 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. Citigroup downgraded 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. UBS Group lowered their price target on CDW from $233.00 to $220.00 and set a “buy” rating on the stock in a report on Tuesday, January 7th. Finally, Morgan Stanley lifted their price objective on CDW from $190.00 to $193.00 and gave the stock an “equal weight” rating in a report on Monday, December 16th. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $239.33.

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.