Citigroup Inc. Sells 31,953 Shares of CDW Co. (NASDAQ:CDW)

Citigroup Inc. decreased its position in shares of CDW Co. (NASDAQ:CDW) by 12.7% in the 3rd quarter, Holdings Channel reports. The firm owned 219,960 shares of the information technology services provider’s stock after selling 31,953 shares during the quarter. Citigroup Inc.’s holdings in CDW were worth $49,777,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in CDW. Massachusetts Financial Services Co. MA acquired a new position in shares of CDW during the 3rd quarter valued at $416,111,000. Dimensional Fund Advisors LP lifted its position in shares of CDW by 11.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,292,674 shares of the information technology services provider’s stock valued at $289,357,000 after acquiring an additional 128,263 shares during the period. Boston Partners lifted its position in shares of CDW by 1.9% during the 1st quarter. Boston Partners now owns 807,590 shares of the information technology services provider’s stock valued at $206,519,000 after acquiring an additional 15,178 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of CDW by 1.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 775,240 shares of the information technology services provider’s stock valued at $175,437,000 after acquiring an additional 7,764 shares during the period. Finally, Perpetual Ltd acquired a new position in shares of CDW during the 3rd quarter valued at $158,300,000. Institutional investors own 93.15% of the company’s stock.

CDW Stock Performance

NASDAQ CDW opened at $178.96 on Monday. CDW Co. has a 1 year low of $172.95 and a 1 year high of $263.37. The company has a debt-to-equity ratio of 2.39, a current ratio of 1.40 and a quick ratio of 1.28. The firm has a market cap of $23.85 billion, a price-to-earnings ratio of 21.88, a PEG ratio of 4.97 and a beta of 1.05. The company has a fifty day moving average price of $209.49 and a 200-day moving average price of $218.42.

CDW (NASDAQ:CDW) last posted its earnings results on Wednesday, October 30th. The information technology services provider reported $2.63 earnings per share (EPS) for the quarter, missing the consensus estimate 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 the consensus estimate of $5.72 billion. During the same quarter in the previous year, the company earned $2.60 EPS. The business’s revenue was down 2.0% compared to the same quarter last year. As a group, equities research analysts predict that CDW Co. will post 9.05 EPS for the current fiscal year.

CDW Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Monday, November 25th will be paid 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 annualized dividend and a dividend yield of 1.40%. CDW’s dividend payout ratio is presently 30.32%.

Analyst Upgrades and Downgrades

CDW has been the topic of a number of research reports. Barclays dropped their target price on shares of CDW from $229.00 to $201.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 31st. JPMorgan Chase & Co. downgraded 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 report on Monday, October 28th. Citigroup downgraded shares of CDW from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $250.00 to $245.00 in a report on Tuesday, October 1st. Finally, Redburn Atlantic initiated coverage on shares of CDW in a report on Friday, November 15th. They set a “buy” rating and a $230.00 price objective on the stock. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $244.63.

CDW 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.