Simon Quick Advisors LLC Decreases Stake in CDW Co. (NASDAQ:CDW)

Simon Quick Advisors LLC cut its holdings in shares of CDW Co. (NASDAQ:CDW) by 11.4% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 4,892 shares of the information technology services provider’s stock after selling 629 shares during the quarter. Simon Quick Advisors LLC’s holdings in CDW were worth $851,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of the business. Federated Hermes Inc. raised its stake in CDW by 88.2% during the 2nd quarter. Federated Hermes Inc. now owns 1,137 shares of the information technology services provider’s stock valued at $255,000 after buying an additional 533 shares during the last quarter. Sei Investments Co. increased its position in CDW by 10.6% during the second quarter. Sei Investments Co. now owns 29,927 shares of the information technology services provider’s stock valued at $6,699,000 after acquiring an additional 2,867 shares during the last quarter. EverSource Wealth Advisors LLC lifted its holdings in CDW by 20.7% in the second quarter. EverSource Wealth Advisors LLC now owns 1,348 shares of the information technology services provider’s stock valued at $294,000 after acquiring an additional 231 shares during the period. Bank of Montreal Can lifted its holdings in CDW by 4.2% in the second quarter. Bank of Montreal Can now owns 190,507 shares of the information technology services provider’s stock valued at $43,123,000 after acquiring an additional 7,705 shares during the period. Finally, Mill Creek Capital Advisors LLC boosted its position in CDW by 24.3% in the second quarter. Mill Creek Capital Advisors LLC now owns 1,345 shares of the information technology services provider’s stock worth $301,000 after purchasing an additional 263 shares during the last quarter. 93.15% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. JPMorgan Chase & Co. cut shares of CDW from an “overweight” rating to a “neutral” rating and lowered their price objective for the stock from $260.00 to $235.00 in a research note on Monday, October 28th. Citigroup downgraded shares of CDW from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $250.00 to $245.00 in a research report on Tuesday, October 1st. Barclays cut 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 report on Thursday, October 31st. Morgan Stanley raised their target price on CDW from $190.00 to $193.00 and gave the stock an “equal weight” rating in a report on Monday, December 16th. Finally, UBS Group cut their price target on CDW from $233.00 to $220.00 and set a “buy” rating for the company in a report on Tuesday, January 7th. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $239.33.

CDW Stock Performance

NASDAQ CDW opened at $194.30 on Thursday. The business has a 50-day moving average price of $179.11 and a 200-day moving average price of $204.73. The firm has a market cap of $25.89 billion, a price-to-earnings ratio of 23.75, a price-to-earnings-growth ratio of 5.11 and a beta of 1.01. CDW Co. has a twelve month low of $168.43 and a twelve month high of $263.37. 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 announced its quarterly earnings data 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 net margin of 5.33% and a return on equity of 58.31%. The company had revenue of $5.52 billion for the quarter, compared to analysts’ expectations of $5.72 billion. During the same period last year, the business earned $2.60 earnings per share. The company’s quarterly revenue was down 2.0% compared to the same quarter last year. As a group, equities research analysts predict that CDW Co. will post 8.99 EPS for the current fiscal year.

CDW Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Monday, November 25th were paid a $0.625 dividend. The ex-dividend date was Monday, November 25th. This represents a $2.50 annualized dividend and a yield of 1.29%. This is a boost from CDW’s previous quarterly dividend of $0.62. CDW’s payout ratio is presently 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.