CDW Co. (NASDAQ:CDW) Stake Lessened by Hixon Zuercher LLC

Hixon Zuercher LLC trimmed its stake in shares of CDW Co. (NASDAQ:CDW) by 12.1% during the fourth quarter, HoldingsChannel reports. The fund owned 5,479 shares of the information technology services provider’s stock after selling 757 shares during the quarter. Hixon Zuercher LLC’s holdings in CDW were worth $954,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. lifted its position in shares of CDW by 9.6% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 3,261 shares of the information technology services provider’s stock worth $730,000 after purchasing an additional 286 shares during the last quarter. Quarry LP bought a new position in CDW during the 2nd quarter worth approximately $81,000. Cetera Investment Advisers grew its position in shares of CDW by 33.4% in the 2nd quarter. Cetera Investment Advisers now owns 12,893 shares of the information technology services provider’s stock worth $2,886,000 after acquiring an additional 3,228 shares in the last quarter. Sanctuary Advisors LLC bought a new stake in shares of CDW in the 2nd quarter valued at approximately $1,285,000. Finally, Healthcare of Ontario Pension Plan Trust Fund raised its position in shares of CDW by 825.0% during the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 12,423 shares of the information technology services provider’s stock valued at $2,781,000 after acquiring an additional 11,080 shares in the last quarter. 93.15% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. JPMorgan Chase & Co. downgraded shares of CDW from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from $260.00 to $235.00 in a report on Monday, October 28th. Redburn Atlantic assumed coverage on shares of CDW in a report on Friday, November 15th. They issued a “buy” rating and a $230.00 price target for the company. Morgan Stanley increased their price objective on shares of CDW from $190.00 to $193.00 and gave the stock an “equal weight” rating in a research note on Monday, December 16th. UBS Group decreased their target price on CDW from $233.00 to $220.00 and set a “buy” rating for the company in a research note on Tuesday, January 7th. Finally, Barclays dropped their price target 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. 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 data from MarketBeat, CDW presently has a consensus rating of “Moderate Buy” and a consensus target price of $239.33.

CDW Stock Performance

Shares of NASDAQ CDW opened at $197.76 on Friday. CDW Co. has a 12-month low of $168.43 and a 12-month high of $263.37. The company has a current ratio of 1.40, a quick ratio of 1.28 and a debt-to-equity ratio of 2.39. The company has a market cap of $26.35 billion, a PE ratio of 24.18, a P/E/G ratio of 5.26 and a beta of 1.01. The stock has a 50 day simple moving average of $181.31 and a 200-day simple moving average of $203.80.

CDW (NASDAQ:CDW) last issued its quarterly earnings results on Wednesday, October 30th. The information technology services provider reported $2.63 EPS for the quarter, missing analysts’ consensus estimates of $2.68 by ($0.05). The business had revenue of $5.52 billion for 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%. CDW’s revenue for the quarter was down 2.0% on a year-over-year basis. During the same period last year, the business posted $2.60 earnings per share. On average, equities research analysts forecast that CDW Co. will post 8.99 EPS for the current year.

CDW Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Monday, November 25th were paid a dividend of $0.625 per share. This is a boost from CDW’s previous quarterly dividend of $0.62. The ex-dividend date of this dividend was Monday, November 25th. This represents a $2.50 annualized dividend and a yield of 1.26%. CDW’s dividend payout ratio (DPR) is presently 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.