CDW Co. (NASDAQ:CDW) Shares Sold by Bamco Inc. NY

Bamco Inc. NY trimmed its stake in shares of CDW Co. (NASDAQ:CDW) by 0.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 397,232 shares of the information technology services provider’s stock after selling 152 shares during the quarter. Bamco Inc. NY owned about 0.30% of CDW worth $89,894,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Peak Financial Advisors LLC acquired a new stake in shares of CDW during the 2nd quarter worth approximately $2,854,000. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund acquired a new stake in CDW in the 3rd quarter valued at approximately $12,761,000. Raymond James & Associates increased its position in CDW by 16.6% in the 2nd quarter. Raymond James & Associates now owns 139,711 shares of the information technology services provider’s stock valued at $31,273,000 after acquiring an additional 19,867 shares during the period. Thrivent Financial for Lutherans increased its position in CDW by 12.8% in the 3rd quarter. Thrivent Financial for Lutherans now owns 599,900 shares of the information technology services provider’s stock valued at $135,758,000 after acquiring an additional 68,023 shares during the period. Finally, Exchange Traded Concepts LLC increased its position in CDW by 50.7% in the 3rd quarter. Exchange Traded Concepts LLC now owns 2,398 shares of the information technology services provider’s stock valued at $543,000 after acquiring an additional 807 shares during the period. 93.15% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Citigroup cut CDW from a “buy” rating to a “neutral” rating and lowered their target price for the company from $250.00 to $245.00 in a research report on Tuesday, October 1st. Redburn Atlantic assumed coverage on CDW in a research report on Friday, November 15th. They issued a “buy” rating and a $230.00 target price on the stock. JPMorgan Chase & Co. cut CDW from an “overweight” rating to a “neutral” rating and lowered their target price for the company from $260.00 to $235.00 in a research report on Monday, October 28th. Finally, Barclays lowered their target price on CDW from $229.00 to $201.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 31st. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, CDW has a consensus rating of “Moderate Buy” and an average price target of $244.63.

CDW Stock Performance

Shares of NASDAQ CDW opened at $175.93 on Monday. The stock has a fifty day moving average price of $204.87 and a two-hundred day moving average price of $216.89. 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 firm has a market cap of $23.44 billion, a P/E ratio of 21.51, a PEG ratio of 4.94 and a beta of 1.05. CDW Co. has a 1 year low of $172.95 and a 1 year high of $263.37.

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 firm had revenue of $5.52 billion for the quarter, compared to the consensus estimate of $5.72 billion. CDW had a net margin of 5.33% and a return on equity of 58.31%. The business’s revenue for the quarter was down 2.0% compared to the same quarter last year. During the same period in the previous year, the business posted $2.60 earnings per share. Research analysts forecast that CDW Co. will post 8.99 EPS for the current fiscal year.

CDW Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Monday, November 25th will be paid a dividend of $0.625 per share. The ex-dividend date is Monday, November 25th. This is a positive change from CDW’s previous quarterly dividend of $0.62. This represents a $2.50 annualized dividend and a dividend yield of 1.42%. CDW’s dividend payout ratio (DPR) is currently 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.