CDW Co. (NASDAQ:CDW) Shares Sold by First Citizens Bank & Trust Co.

First Citizens Bank & Trust Co. lowered its stake in shares of CDW Co. (NASDAQ:CDW) by 8.9% during the fourth quarter, Holdings Channel reports. The institutional investor owned 5,067 shares of the information technology services provider’s stock after selling 495 shares during the period. First Citizens Bank & Trust Co.’s holdings in CDW were worth $882,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Canoe Financial LP acquired a new stake in shares of CDW during the 3rd quarter valued at approximately $37,000. Fortitude Family Office LLC increased its stake in 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 purchasing an additional 133 shares in the last quarter. Ashton Thomas Securities LLC purchased a new stake in CDW during the third quarter worth $43,000. Covestor Ltd grew its holdings in CDW by 80.1% in the third quarter. Covestor Ltd now owns 245 shares of the information technology services provider’s stock valued at $55,000 after purchasing an additional 109 shares during the last quarter. Finally, Kimelman & Baird LLC purchased a new position in shares of CDW in the second quarter valued at $56,000. 93.15% of the stock is currently owned by institutional investors and hedge funds.

CDW Trading Down 0.6 %

Shares of CDW opened at $194.04 on Tuesday. CDW Co. has a fifty-two week low of $168.43 and a fifty-two week high of $263.37. The stock has a fifty day moving average of $180.11 and a two-hundred day moving average of $204.14. The company has a debt-to-equity ratio of 2.39, a quick ratio of 1.28 and a current ratio of 1.40. The company has a market capitalization of $25.86 billion, a PE ratio of 23.72, a price-to-earnings-growth ratio of 5.26 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 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 analysts’ expectations of $5.72 billion. During the same quarter last year, the company posted $2.60 earnings per share. The business’s quarterly revenue was down 2.0% compared to the same quarter last year. As a group, analysts forecast that CDW Co. will post 8.99 EPS for the current year.

CDW Increases Dividend

The business also recently announced 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 dividend on an annualized basis and a yield of 1.29%. This is an increase from CDW’s previous quarterly dividend of $0.62. The ex-dividend date of this dividend was Monday, November 25th. CDW’s payout ratio is presently 30.56%.

Analyst Upgrades and Downgrades

CDW has been the topic of several recent research reports. Barclays decreased their price objective 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 lowered shares of CDW from a “buy” rating to a “neutral” rating and lowered their price target for the company from $250.00 to $245.00 in a research report on Tuesday, October 1st. UBS Group cut their price objective on CDW from $233.00 to $220.00 and set a “buy” rating for the company in a research report on Tuesday, January 7th. Morgan Stanley upped their target price on CDW from $190.00 to $193.00 and gave the company an “equal weight” rating in a research note on Monday, December 16th. Finally, Redburn Atlantic initiated coverage on CDW in a research report on Friday, November 15th. They set a “buy” rating and a $230.00 price target for the company. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, CDW currently has a consensus rating of “Moderate Buy” and an average target price of $239.33.

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.