MML Investors Services LLC Sells 5,088 Shares of CDW Co. (NASDAQ:CDW)

MML Investors Services LLC cut its position in CDW Co. (NASDAQ:CDW) by 40.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,542 shares of the information technology services provider’s stock after selling 5,088 shares during the quarter. MML Investors Services LLC’s holdings in CDW were worth $1,707,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Quest Partners LLC bought a new position in shares of CDW in the second quarter valued at $35,000. Canoe Financial LP bought a new position in CDW during the third quarter worth $37,000. Fortitude Family Office LLC boosted its position in CDW by 350.0% during the third quarter. Fortitude Family Office LLC now owns 171 shares of the information technology services provider’s stock worth $39,000 after purchasing an additional 133 shares during the period. Summit Securities Group LLC bought a new position in CDW during the second quarter worth $40,000. Finally, Ashton Thomas Securities LLC bought a new position in CDW during the third quarter worth $43,000. 93.15% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have commented on CDW. Morgan Stanley lifted their price objective on shares of CDW from $190.00 to $193.00 and gave the stock an “equal weight” rating in a research report on Monday. JPMorgan Chase & Co. cut shares of CDW from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $260.00 to $235.00 in a research report on Monday, October 28th. Redburn Atlantic initiated coverage on CDW in a report on Friday, November 15th. They set a “buy” rating and a $230.00 target price for the company. Barclays dropped their target price on CDW from $229.00 to $201.00 and set an “equal weight” rating for the company in a report on Thursday, October 31st. Finally, Citigroup downgraded CDW from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $250.00 to $245.00 in a report on Tuesday, October 1st. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $241.75.

CDW Stock Down 0.6 %

CDW opened at $176.66 on Wednesday. The company has a market capitalization of $23.54 billion, a P/E ratio of 21.60, a P/E/G ratio of 5.01 and a beta of 1.02. The stock has a fifty day moving average of $195.27 and a 200-day moving average of $213.06. CDW Co. has a fifty-two week low of $172.95 and a fifty-two week high of $263.37. The company has a debt-to-equity ratio of 2.39, a quick ratio of 1.28 and a current ratio of 1.40.

CDW (NASDAQ:CDW) last posted its quarterly earnings results on Wednesday, October 30th. The information technology services provider reported $2.63 EPS for the quarter, missing analysts’ consensus estimates of $2.68 by ($0.05). The company had revenue of $5.52 billion during the quarter, compared to analyst estimates of $5.72 billion. CDW had a net margin of 5.33% and a return on equity of 58.31%. The firm’s revenue for the quarter was down 2.0% compared to the same quarter last year. During the same period last year, the firm earned $2.60 EPS. On average, equities analysts expect that CDW Co. will post 8.99 EPS for the current year.

CDW Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Monday, November 25th were paid a $0.625 dividend. This represents a $2.50 dividend on an annualized basis and a yield of 1.42%. 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 30.56%.

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.