Clio Asset Management LLC Has $12.71 Million Position in CDW Co. (NASDAQ:CDW)

Clio Asset Management LLC cut its stake in CDW Co. (NASDAQ:CDW) by 2.4% during the fourth quarter, HoldingsChannel reports. The fund owned 73,017 shares of the information technology services provider’s stock after selling 1,763 shares during the quarter. CDW comprises about 9.4% of Clio Asset Management LLC’s holdings, making the stock its 5th largest position. Clio Asset Management LLC’s holdings in CDW were worth $12,708,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in CDW. Canoe Financial LP bought a new stake in CDW during the third quarter valued at about $37,000. Fortitude Family Office LLC lifted its position in shares of CDW by 350.0% during the third quarter. Fortitude Family Office LLC now owns 171 shares of the information technology services provider’s stock valued at $39,000 after buying an additional 133 shares during the last quarter. Ashton Thomas Securities LLC bought a new stake in shares of CDW in the 3rd quarter valued at about $43,000. Covestor Ltd grew 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 buying an additional 109 shares during the last quarter. Finally, Kimelman & Baird LLC bought a new position in shares of CDW during the 2nd quarter worth approximately $56,000. 93.15% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

CDW has been the subject of several recent analyst reports. Redburn Atlantic assumed coverage on shares of CDW in a research note on Friday, November 15th. They issued a “buy” rating and a $230.00 target price for the company. JPMorgan Chase & Co. cut 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 report on Monday, October 28th. Barclays reduced their target price 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. UBS Group lowered 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. Finally, Citigroup lowered CDW from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $250.00 to $245.00 in a research note on Tuesday, October 1st. Four 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 a consensus rating of “Moderate Buy” and a consensus target price of $239.33.

CDW Stock Down 1.2 %

Shares of CDW stock opened at $195.13 on Monday. CDW Co. has a fifty-two week low of $168.43 and a fifty-two week high of $263.37. 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. 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 stock’s 50-day simple moving average is $179.79 and its 200-day simple moving average is $204.35.

CDW (NASDAQ:CDW) last issued its quarterly earnings results on Wednesday, October 30th. The information technology services provider reported $2.63 earnings per share 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 business had revenue of $5.52 billion during the quarter, compared to analyst estimates of $5.72 billion. During the same quarter last year, the company posted $2.60 EPS. CDW’s quarterly revenue was down 2.0% compared to the same quarter last year. Equities analysts expect that CDW Co. will post 8.99 earnings per share for the current year.

CDW Increases Dividend

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