Tributary Capital Management LLC Lowers Holdings in CDW Co. (NASDAQ:CDW)

Tributary Capital Management LLC trimmed its position in CDW Co. (NASDAQ:CDW) by 5.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,230 shares of the information technology services provider’s stock after selling 120 shares during the quarter. Tributary Capital Management LLC’s holdings in CDW were worth $388,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Canoe Financial LP purchased a new stake in shares of CDW in the 3rd quarter worth $37,000. Fortitude Family Office LLC raised its position in shares of CDW by 350.0% in the 3rd quarter. Fortitude Family Office LLC now owns 171 shares of the information technology services provider’s stock worth $39,000 after acquiring an additional 133 shares in the last quarter. Ashton Thomas Securities LLC bought a new position in shares of CDW in the 3rd quarter worth $43,000. Covestor Ltd raised its position in shares of CDW by 80.1% in the 3rd quarter. Covestor Ltd now owns 245 shares of the information technology services provider’s stock worth $55,000 after acquiring an additional 109 shares in the last quarter. Finally, Kimelman & Baird LLC bought a new position in shares of CDW in the 2nd quarter worth $56,000. 93.15% of the stock is currently owned by hedge funds and other institutional investors.

CDW Stock Down 1.2 %

Shares of CDW stock opened at $195.13 on Friday. The stock’s 50-day simple moving average is $179.79 and its 200-day simple moving average is $204.45. The company has a debt-to-equity ratio of 2.39, a quick ratio of 1.28 and a current ratio of 1.40. The firm has a market capitalization of $26.00 billion, a PE ratio of 23.85, a P/E/G ratio of 5.26 and a beta of 1.01. CDW Co. has a fifty-two week low of $168.43 and a fifty-two week high of $263.37.

CDW (NASDAQ:CDW) last announced its quarterly earnings data on Wednesday, October 30th. The information technology services provider reported $2.63 earnings per share for the quarter, missing analysts’ consensus estimates of $2.68 by ($0.05). The firm had revenue of $5.52 billion during the quarter, compared to analyst estimates of $5.72 billion. CDW had a net margin of 5.33% and a return on equity of 58.31%. The firm’s revenue for the quarter was down 2.0% on a year-over-year basis. During the same period in the prior year, the company posted $2.60 earnings per share. Equities analysts expect that CDW Co. will post 8.99 earnings per share for the current year.

CDW Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Monday, November 25th were paid a $0.625 dividend. This is an increase from CDW’s previous quarterly dividend of $0.62. The ex-dividend date was Monday, November 25th. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.28%. CDW’s dividend payout ratio is presently 30.56%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on CDW. UBS Group reduced their price target on CDW from $233.00 to $220.00 and set a “buy” rating for the company in a research report on Tuesday, January 7th. Barclays reduced their price target on CDW from $229.00 to $201.00 and set an “equal weight” rating for the company in a research report on Thursday, October 31st. Redburn Atlantic started coverage on CDW in a research report on Friday, November 15th. They issued a “buy” rating and a $230.00 price target for the company. Morgan Stanley upped their target price on CDW from $190.00 to $193.00 and gave the company an “equal weight” rating in a research report on Monday, December 16th. Finally, Citigroup lowered CDW from a “buy” rating to a “neutral” rating and reduced their target price for the company from $250.00 to $245.00 in a research report on Tuesday, October 1st. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the company 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.