City Holding Co. Has $868,000 Stock Holdings in CDW Co. (NASDAQ:CDW)

City Holding Co. lowered its stake in shares of CDW Co. (NASDAQ:CDW) by 24.1% during the 4th quarter, Holdings Channel.com reports. The firm owned 4,989 shares of the information technology services provider’s stock after selling 1,580 shares during the quarter. City Holding Co.’s holdings in CDW were worth $868,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in CDW. Romano Brothers AND Company lifted its holdings in shares of CDW by 192.6% in the 4th quarter. Romano Brothers AND Company now owns 6,502 shares of the information technology services provider’s stock worth $1,132,000 after purchasing an additional 4,280 shares in the last quarter. Canoe Financial LP lifted its stake in shares of CDW by 68.3% in the fourth quarter. Canoe Financial LP now owns 276 shares of the information technology services provider’s stock valued at $48,000 after buying an additional 112 shares in the last quarter. Merit Financial Group LLC increased its position in shares of CDW by 35.6% during the fourth quarter. Merit Financial Group LLC now owns 4,093 shares of the information technology services provider’s stock worth $712,000 after acquiring an additional 1,075 shares in the last quarter. Avanza Fonder AB acquired a new stake in shares of CDW in the 4th quarter worth about $1,722,000. Finally, RDA Financial Network lifted its position in CDW by 37.8% in the 4th quarter. RDA Financial Network now owns 2,256 shares of the information technology services provider’s stock valued at $393,000 after acquiring an additional 619 shares in the last quarter. Institutional investors own 93.15% of the company’s stock.

CDW Stock Up 0.5 %

CDW stock opened at $188.70 on Tuesday. The firm has a 50 day moving average price of $178.95 and a 200-day moving average price of $204.97. 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 Co. has a twelve month low of $168.43 and a twelve month high of $263.37. The company has a market capitalization of $25.15 billion, a P/E ratio of 23.07, a P/E/G ratio of 4.91 and a beta of 1.01.

CDW (NASDAQ:CDW) last released its 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 analysts’ expectations of $5.72 billion. During the same period in the prior year, the business earned $2.60 earnings per share. The business’s quarterly revenue was down 2.0% compared to the same quarter last year. As a group, equities analysts predict that CDW Co. will post 8.99 EPS for the current year.

CDW Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Monday, November 25th were issued a dividend of $0.625 per share. The ex-dividend date of this dividend was Monday, November 25th. This is an increase from CDW’s previous quarterly dividend of $0.62. This represents a $2.50 annualized dividend and a yield of 1.32%. CDW’s dividend payout ratio is 30.56%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on CDW. UBS Group dropped their target price on CDW from $233.00 to $220.00 and set a “buy” rating on the stock in a report on Tuesday, January 7th. Citigroup downgraded shares of CDW from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $250.00 to $245.00 in a report on Tuesday, October 1st. Redburn Atlantic began coverage on shares of CDW in a report on Friday, November 15th. They issued a “buy” rating and a $230.00 target price for the company. JPMorgan Chase & Co. cut shares of CDW from an “overweight” rating to a “neutral” rating and cut their price target for the stock from $260.00 to $235.00 in a report on Monday, October 28th. Finally, Barclays decreased their price objective on shares of CDW from $229.00 to $201.00 and set an “equal weight” rating for the company in a research note on Thursday, October 31st. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $239.33.

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.