GLOBALT Investments LLC GA Sells 764 Shares of CDW Co. (NASDAQ:CDW)

GLOBALT Investments LLC GA lessened its stake in CDW Co. (NASDAQ:CDW) by 4.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 17,641 shares of the information technology services provider’s stock after selling 764 shares during the period. GLOBALT Investments LLC GA’s holdings in CDW were worth $3,992,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. Swiss National Bank boosted its holdings in CDW by 0.4% in the third quarter. Swiss National Bank now owns 398,900 shares of the information technology services provider’s stock valued at $90,271,000 after acquiring an additional 1,500 shares in the last quarter. Thrivent Financial for Lutherans boosted its stake in shares of CDW by 12.8% during 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 purchasing an additional 68,023 shares in the last quarter. RiverPark Advisors LLC boosted its stake in shares of CDW by 5.8% during the 3rd quarter. RiverPark Advisors LLC now owns 5,549 shares of the information technology services provider’s stock valued at $1,256,000 after purchasing an additional 305 shares in the last quarter. Tower Bridge Advisors increased its position in shares of CDW by 0.5% during the third quarter. Tower Bridge Advisors now owns 18,342 shares of the information technology services provider’s stock valued at $4,151,000 after buying an additional 90 shares during the period. Finally, Vaughan Nelson Investment Management L.P. lifted its holdings in CDW by 20.8% in the third quarter. Vaughan Nelson Investment Management L.P. now owns 184,613 shares of the information technology services provider’s stock worth $41,778,000 after buying an additional 31,794 shares during the period. Hedge funds and other institutional investors own 93.15% of the company’s stock.

CDW Trading Down 1.7 %

NASDAQ:CDW opened at $177.63 on Monday. The stock has a market cap of $23.67 billion, a price-to-earnings ratio of 21.72, a PEG ratio of 4.96 and a beta of 1.05. The company has a quick ratio of 1.28, a current ratio of 1.40 and a debt-to-equity ratio of 2.39. The company’s 50 day moving average price is $213.49 and its 200-day moving average price is $219.94. CDW Co. has a 52 week low of $175.94 and a 52 week high of $263.37.

CDW (NASDAQ:CDW) last issued its earnings results on Wednesday, October 30th. The information technology services provider reported $2.63 EPS for the quarter, missing the consensus estimate of $2.68 by ($0.05). The business had revenue of $5.52 billion for 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%. The business’s revenue for the quarter was down 2.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.60 earnings per share. On average, equities research analysts forecast that CDW Co. will post 9.05 earnings per share for the current fiscal year.

CDW Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Monday, November 25th will be given a $0.625 dividend. This is a positive change from CDW’s previous quarterly dividend of $0.62. The ex-dividend date is Monday, November 25th. This represents a $2.50 dividend on an annualized basis and a yield of 1.41%. CDW’s payout ratio is 30.32%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on CDW shares. JPMorgan Chase & Co. cut CDW from an “overweight” rating to a “neutral” rating and reduced their price target for the stock from $260.00 to $235.00 in a research note on Monday, October 28th. Redburn Atlantic began coverage on shares of CDW in a research report on Friday. They issued a “buy” rating and a $230.00 target price on the stock. Citigroup cut 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. Finally, Barclays cut their price objective on shares of CDW from $229.00 to $201.00 and set an “equal weight” rating on the stock in a report on Thursday, October 31st. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $244.63.

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.