Commerce Bank Has $9.67 Million Position in CDW Co. (NASDAQ:CDW)

Commerce Bank lessened its holdings in shares of CDW Co. (NASDAQ:CDW) by 3.7% in the third quarter, according to its most recent filing with the SEC. The firm owned 42,717 shares of the information technology services provider’s stock after selling 1,622 shares during the period. Commerce Bank’s holdings in CDW were worth $9,667,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. ORG Partners LLC acquired a new position in shares of CDW in the 2nd quarter valued at approximately $34,000. Quest Partners LLC bought a new stake in shares of CDW during the second quarter worth $35,000. Canoe Financial LP acquired a new stake in shares of CDW during the third quarter worth $37,000. Fortitude Family Office LLC lifted its position 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 acquiring an additional 133 shares in the last quarter. Finally, Summit Securities Group LLC acquired a new position in CDW in the 2nd quarter worth $40,000. Institutional investors own 93.15% of the company’s stock.

Analyst Upgrades and Downgrades

CDW has been the subject of a number of research reports. Barclays decreased their price objective on CDW from $229.00 to $201.00 and set an “equal weight” rating for the company in a report on Thursday, October 31st. Redburn Atlantic assumed coverage on shares of CDW in a research report on Friday, November 15th. They issued a “buy” rating and a $230.00 price objective on the stock. JPMorgan Chase & Co. lowered shares of CDW from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $260.00 to $235.00 in a research note on Monday, October 28th. Finally, Citigroup downgraded shares of CDW from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $250.00 to $245.00 in a research note on Tuesday, October 1st. Four research 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, the company has a consensus rating of “Moderate Buy” and an average target price of $244.63.

CDW Stock Performance

Shares of CDW stock opened at $177.91 on Friday. The stock has a market cap of $23.71 billion, a price-to-earnings ratio of 21.75, a P/E/G ratio of 4.86 and a beta of 1.05. CDW Co. has a twelve month low of $172.95 and a twelve month high of $263.37. The company’s fifty day moving average is $211.13 and its 200 day moving average is $219.03. 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 (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). CDW had a return on equity of 58.31% and a net margin of 5.33%. The firm had revenue of $5.52 billion during the quarter, compared to analyst estimates of $5.72 billion. During the same quarter last year, the firm posted $2.60 EPS. The firm’s revenue for the quarter was down 2.0% on a year-over-year basis. Sell-side analysts forecast that CDW Co. will post 9.05 EPS for the current year.

CDW Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors 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 yield of 1.41%. CDW’s dividend payout ratio is currently 30.32%.

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.