Crossmark Global Holdings Inc. Cuts Stock Position in CDW Co. (NASDAQ:CDW)

Crossmark Global Holdings Inc. cut its holdings in CDW Co. (NASDAQ:CDW) by 2.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 10,302 shares of the information technology services provider’s stock after selling 312 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in CDW were worth $1,793,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Massachusetts Financial Services Co. MA purchased a new stake in shares of CDW during the third quarter worth approximately $416,111,000. Janus Henderson Group PLC increased its position in shares of CDW by 7,029.1% during the third quarter. Janus Henderson Group PLC now owns 1,466,597 shares of the information technology services provider’s stock worth $331,891,000 after purchasing an additional 1,446,025 shares in the last quarter. Holocene Advisors LP purchased a new stake in shares of CDW during the third quarter worth approximately $172,217,000. Perpetual Ltd purchased a new stake in shares of CDW during the third quarter worth approximately $158,300,000. Finally, Assenagon Asset Management S.A. increased its position in shares of CDW by 7,549.9% during the fourth quarter. Assenagon Asset Management S.A. now owns 256,271 shares of the information technology services provider’s stock worth $44,601,000 after purchasing an additional 252,921 shares in the last quarter. 93.15% of the stock is currently owned by hedge funds and other institutional investors.

CDW Stock Performance

Shares of CDW stock opened at $197.49 on Friday. CDW Co. has a 52 week low of $168.43 and a 52 week high of $263.37. The business’s fifty day simple moving average is $179.44 and its 200-day simple moving average is $204.68. The firm has a market cap of $26.32 billion, a PE ratio of 24.14, a price-to-earnings-growth ratio of 5.18 and a beta of 1.01. 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 (NASDAQ:CDW) last posted its quarterly earnings data on Wednesday, October 30th. The information technology services provider reported $2.63 earnings per share (EPS) for the quarter, missing the consensus estimate 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 quarterly revenue was down 2.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.60 EPS. Equities analysts forecast that CDW Co. will post 8.99 earnings per share for the current year.

CDW Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Monday, November 25th were issued a $0.625 dividend. This represents a $2.50 annualized dividend and a dividend yield of 1.27%. 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

Several brokerages recently commented on CDW. Citigroup cut 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 report on Tuesday, October 1st. Morgan Stanley boosted their price objective on CDW from $190.00 to $193.00 and gave the stock an “equal weight” rating in a research note on Monday, December 16th. JPMorgan Chase & Co. lowered CDW from an “overweight” rating to a “neutral” rating and lowered their price objective for the stock from $260.00 to $235.00 in a research note on Monday, October 28th. UBS Group lowered their price objective on CDW from $233.00 to $220.00 and set a “buy” rating on the stock in a research note on Tuesday, January 7th. Finally, Redburn Atlantic started coverage on CDW in a research note on Friday, November 15th. They set a “buy” rating and a $230.00 price objective on the stock. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target 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.