Foster & Motley Inc. Sells 2,472 Shares of CDW Co. (NASDAQ:CDW)

Foster & Motley Inc. reduced its stake in shares of CDW Co. (NASDAQ:CDW) by 9.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,050 shares of the information technology services provider’s stock after selling 2,472 shares during the quarter. Foster & Motley Inc.’s holdings in CDW were worth $4,012,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. State Street Corp boosted its holdings in shares of CDW by 1.1% in the 3rd quarter. State Street Corp now owns 5,719,348 shares of the information technology services provider’s stock worth $1,294,288,000 after acquiring an additional 64,702 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of CDW by 0.9% during the third quarter. Geode Capital Management LLC now owns 3,481,064 shares of the information technology services provider’s stock worth $785,635,000 after purchasing an additional 31,858 shares during the last quarter. Massachusetts Financial Services Co. MA bought a new stake in shares of CDW during the third quarter worth $416,111,000. Janus Henderson Group PLC raised its holdings in shares of CDW by 7,029.1% in the third quarter. Janus Henderson Group PLC now owns 1,466,597 shares of the information technology services provider’s stock valued at $331,891,000 after buying an additional 1,446,025 shares during the last quarter. Finally, Barclays PLC grew its holdings in 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 last quarter. 93.15% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on CDW shares. Barclays dropped their target price on CDW from $229.00 to $201.00 and set an “equal weight” rating for the company in a research report on Thursday, October 31st. Redburn Atlantic initiated coverage on shares of CDW in a report on Friday, November 15th. They issued a “buy” rating and a $230.00 price objective on the stock. UBS Group reduced their price target on CDW from $233.00 to $220.00 and set a “buy” rating on the stock in a research report on Tuesday, January 7th. JPMorgan Chase & Co. lowered CDW from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $260.00 to $235.00 in a research report on Monday, October 28th. Finally, Morgan Stanley increased their target price on shares of CDW from $190.00 to $193.00 and gave the stock an “equal weight” rating in a report on Monday, December 16th. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $239.33.

CDW Stock Up 0.4 %

CDW stock opened at $195.53 on Thursday. The company has a 50 day moving average of $180.92 and a 200-day moving average of $203.85. 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 twelve month low of $168.43 and a twelve month high of $263.37. The stock has a market capitalization of $26.06 billion, a PE ratio of 23.90, a price-to-earnings-growth ratio of 5.26 and a beta of 1.01.

CDW (NASDAQ:CDW) last announced its earnings results on Wednesday, October 30th. The information technology services provider reported $2.63 earnings per share for the quarter, missing analysts’ consensus estimates of $2.68 by ($0.05). CDW had a return on equity of 58.31% and a net margin of 5.33%. The company had revenue of $5.52 billion during the quarter, compared to analyst estimates of $5.72 billion. During the same period in the previous year, the company posted $2.60 earnings per share. CDW’s revenue for the quarter was down 2.0% on a year-over-year basis. On average, equities research analysts anticipate that CDW Co. will post 8.99 EPS for the current fiscal 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 dividend of $0.625 per share. The ex-dividend date of this dividend was Monday, November 25th. This is an increase from CDW’s previous quarterly dividend of $0.62. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.28%. CDW’s dividend payout ratio (DPR) is presently 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.