CDW Co. (NASDAQ:CDW) Shares Sold by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank lowered its position in shares of CDW Co. (NASDAQ:CDW) by 2.5% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 27,033 shares of the information technology services provider’s stock after selling 695 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in CDW were worth $6,118,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in CDW. Cetera Investment Advisers lifted its holdings in CDW by 165.3% in the 1st quarter. Cetera Investment Advisers now owns 9,665 shares of the information technology services provider’s stock valued at $2,472,000 after purchasing an additional 6,022 shares in the last quarter. Cetera Advisors LLC boosted its position in CDW by 27.7% during the first quarter. Cetera Advisors LLC now owns 2,016 shares of the information technology services provider’s stock worth $516,000 after acquiring an additional 437 shares during the last quarter. Trust Co. of Toledo NA OH boosted its position in CDW by 49.0% during the second quarter. Trust Co. of Toledo NA OH now owns 1,611 shares of the information technology services provider’s stock worth $361,000 after acquiring an additional 530 shares during the last quarter. Park Avenue Securities LLC grew its stake in CDW by 24.7% during the 2nd quarter. Park Avenue Securities LLC now owns 3,289 shares of the information technology services provider’s stock valued at $736,000 after acquiring an additional 651 shares in the last quarter. Finally, CWM LLC raised its holdings in CDW by 2.9% in the 2nd quarter. CWM LLC now owns 5,810 shares of the information technology services provider’s stock valued at $1,301,000 after acquiring an additional 162 shares during the last quarter. Hedge funds and other institutional investors own 93.15% of the company’s stock.

CDW Stock Down 0.5 %

Shares of NASDAQ:CDW opened at $175.93 on Monday. The company has a market capitalization of $23.44 billion, a price-to-earnings ratio of 21.51, a PEG ratio of 4.94 and a beta of 1.05. CDW Co. has a 12-month low of $172.95 and a 12-month high of $263.37. The business has a 50-day moving average price of $204.87 and a 200 day moving average price of $216.89. The company has a current ratio of 1.40, a quick ratio of 1.28 and a debt-to-equity ratio of 2.39.

CDW (NASDAQ:CDW) last released 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 company had revenue of $5.52 billion during 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%. CDW’s revenue was down 2.0% on a year-over-year basis. During the same period last year, the firm posted $2.60 earnings per share. Sell-side analysts expect that CDW Co. will post 8.99 EPS for the current year.

CDW Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Monday, November 25th will be given a dividend of $0.625 per share. 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%. The ex-dividend date of this dividend is Monday, November 25th. CDW’s dividend payout ratio (DPR) is currently 30.56%.

Analyst Ratings Changes

A number of research firms have recently issued reports on CDW. JPMorgan Chase & Co. lowered CDW from an “overweight” rating to a “neutral” rating and dropped their price target for the company from $260.00 to $235.00 in a research report on Monday, October 28th. Redburn Atlantic started coverage on CDW in a research note on Friday, November 15th. They set a “buy” rating and a $230.00 price objective on the stock. Barclays cut their target price on CDW from $229.00 to $201.00 and set an “equal weight” rating for the company in a research note on Thursday, October 31st. Finally, 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. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, CDW currently has an average rating of “Moderate Buy” and a consensus price target 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.