Cardinal Capital Management Inc. Sells 17,755 Shares of CDW Co. (NASDAQ:CDW)

Cardinal Capital Management Inc. reduced its stake in shares of CDW Co. (NASDAQ:CDW) by 27.1% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 47,810 shares of the information technology services provider’s stock after selling 17,755 shares during the quarter. Cardinal Capital Management Inc.’s holdings in CDW were worth $8,321,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in CDW. Federated Hermes Inc. lifted its position in shares of CDW by 88.2% in the second 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. raised 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 purchasing an additional 2,867 shares in the last quarter. EverSource Wealth Advisors LLC lifted its holdings in shares of 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 worth $294,000 after acquiring an additional 231 shares during the last quarter. Bank of Montreal Can increased its holdings in shares of CDW by 4.2% during the second quarter. Bank of Montreal Can now owns 190,507 shares of the information technology services provider’s stock worth $43,123,000 after buying an additional 7,705 shares in the last quarter. Finally, Mill Creek Capital Advisors LLC grew its holdings in shares of CDW by 24.3% during 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. Institutional investors and hedge funds own 93.15% of the company’s stock.

Analyst Ratings Changes

CDW has been the topic of a number of recent analyst reports. UBS Group dropped their price target on shares of CDW from $233.00 to $220.00 and set a “buy” rating on the stock in a research report on Tuesday, January 7th. Redburn Atlantic started 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. Morgan Stanley boosted their target price on shares of CDW from $190.00 to $193.00 and gave the company an “equal weight” rating in a research note on Monday, December 16th. JPMorgan Chase & Co. downgraded shares of CDW from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $260.00 to $235.00 in a report on Monday, October 28th. Finally, Barclays dropped their price objective on CDW from $229.00 to $201.00 and set an “equal weight” rating on the stock in a report on Thursday, October 31st. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, CDW currently has an average rating of “Moderate Buy” and a consensus price target of $239.33.

CDW Trading Up 1.4 %

NASDAQ:CDW opened at $194.30 on Thursday. The company has a market cap of $25.89 billion, a PE ratio of 23.75, a price-to-earnings-growth ratio of 5.18 and a beta of 1.01. 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 Co. has a 12 month low of $168.43 and a 12 month high of $263.37. The company has a 50 day simple moving average of $179.11 and a two-hundred day simple moving average of $204.73.

CDW (NASDAQ:CDW) last released its quarterly earnings data 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). The company had revenue of $5.52 billion for the quarter, compared to the consensus estimate of $5.72 billion. CDW had a net margin of 5.33% and a return on equity of 58.31%. The company’s quarterly revenue was down 2.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.60 EPS. Research analysts forecast that CDW Co. will post 8.99 earnings per share for the current year.

CDW Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Monday, November 25th were given a $0.625 dividend. The ex-dividend date of this dividend was Monday, November 25th. This represents a $2.50 annualized dividend and a yield of 1.29%. This is a positive change from CDW’s previous quarterly dividend of $0.62. CDW’s dividend payout ratio (DPR) is currently 30.56%.

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.