Foster & Motley Inc. Decreases Stock Position in CDW Co. (NASDAQ:CDW)

Foster & Motley Inc. lessened its stake in shares of CDW Co. (NASDAQ:CDW) by 0.5% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 25,522 shares of the information technology services provider’s stock after selling 123 shares during the period. Foster & Motley Inc.’s holdings in CDW were worth $5,776,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in the company. Janney Montgomery Scott LLC grew its holdings in CDW by 0.4% during the 1st quarter. Janney Montgomery Scott LLC now owns 38,706 shares of the information technology services provider’s stock valued at $9,900,000 after buying an additional 149 shares in the last quarter. Nordea Investment Management AB increased its position in CDW by 2.6% in the first quarter. Nordea Investment Management AB now owns 9,619 shares of the information technology services provider’s stock worth $2,492,000 after purchasing an additional 246 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S raised its stake in CDW by 18.5% during the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 2,554 shares of the information technology services provider’s stock valued at $653,000 after purchasing an additional 399 shares in the last quarter. Rehmann Capital Advisory Group raised its stake in CDW by 10.9% during the first quarter. Rehmann Capital Advisory Group now owns 1,748 shares of the information technology services provider’s stock valued at $447,000 after purchasing an additional 172 shares in the last quarter. Finally, Mediolanum International Funds Ltd bought a new position in CDW during the first quarter valued at $2,461,000. Hedge funds and other institutional investors own 93.15% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. JPMorgan Chase & Co. cut shares of CDW from an “overweight” rating to a “neutral” rating and decreased their target price for the company from $260.00 to $235.00 in a research report on Monday, October 28th. Barclays decreased their price objective on CDW from $229.00 to $201.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 31st. Stifel Nicolaus raised their price objective on CDW from $250.00 to $260.00 and gave the company a “buy” rating in a research note on Wednesday, July 17th. Finally, Citigroup downgraded CDW from a “buy” rating to a “neutral” rating and cut their target price for the company from $250.00 to $245.00 in a research report on Tuesday, October 1st. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $246.71.

CDW Stock Up 1.8 %

Shares of NASDAQ:CDW opened at $196.40 on Wednesday. The firm has a market capitalization of $26.17 billion, a PE ratio of 23.59, a price-to-earnings-growth ratio of 5.07 and a beta of 1.05. The business has a 50 day simple moving average of $217.85 and a two-hundred day simple moving average of $222.52. CDW Co. has a 1 year low of $187.73 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.

CDW (NASDAQ:CDW) last posted 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 business had revenue of $5.52 billion for the quarter, compared to analysts’ expectations of $5.72 billion. During the same quarter in the previous year, the firm earned $2.60 EPS. CDW’s revenue was down 2.0% compared to the same quarter last year. On average, equities analysts predict that CDW Co. will post 9.38 EPS for the current year.

CDW Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Monday, November 25th will be issued a $0.625 dividend. The ex-dividend date is Monday, November 25th. This is a boost from CDW’s previous quarterly dividend of $0.62. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.27%. CDW’s dividend payout ratio is presently 30.32%.

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.