Toth Financial Advisory Corp Cuts Stock Holdings in CDW Co. (NASDAQ:CDW)

Toth Financial Advisory Corp cut its position in shares of CDW Co. (NASDAQ:CDW) by 6.4% during the 4th quarter, Holdings Channel reports. The firm owned 17,576 shares of the information technology services provider’s stock after selling 1,211 shares during the quarter. Toth Financial Advisory Corp’s holdings in CDW were worth $3,059,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in CDW. Massachusetts Financial Services Co. MA purchased a new position in CDW during the third quarter worth about $416,111,000. Janus Henderson Group PLC boosted its position in CDW by 7,029.1% in the third quarter. Janus Henderson Group PLC now owns 1,466,597 shares of the information technology services provider’s stock worth $331,891,000 after purchasing an additional 1,446,025 shares during the last quarter. Holocene Advisors LP purchased a new position in CDW in the third quarter worth $172,217,000. Perpetual Ltd purchased a new position in CDW in the third quarter worth $158,300,000. Finally, Assenagon Asset Management S.A. boosted its position in CDW by 7,549.9% in the fourth quarter. Assenagon Asset Management S.A. now owns 256,271 shares of the information technology services provider’s stock worth $44,601,000 after purchasing an additional 252,921 shares during the last quarter. 93.15% of the stock is currently owned by hedge funds and other institutional investors.

CDW Stock Performance

Shares of CDW stock opened at $195.13 on Friday. The stock has a market capitalization of $26.00 billion, a P/E ratio of 23.85, a PEG ratio of 5.26 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. The firm’s 50 day moving average is $179.79 and its 200 day moving average is $204.53. CDW Co. has a 12 month low of $168.43 and a 12 month high of $263.37.

CDW (NASDAQ:CDW) last issued 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). The company had revenue of $5.52 billion for the quarter, compared to analysts’ expectations of $5.72 billion. CDW had a return on equity of 58.31% and a net margin of 5.33%. The business’s revenue for the quarter was down 2.0% on a year-over-year basis. During the same period last year, the company posted $2.60 EPS. On average, sell-side analysts anticipate that CDW Co. will post 8.99 earnings per share for the current year.

CDW Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Monday, November 25th were issued a dividend of $0.625 per share. This is a boost 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 yield of 1.28%. CDW’s dividend payout ratio is 30.56%.

Wall Street Analysts Forecast Growth

CDW has been the topic of several research analyst reports. UBS Group cut their price objective on CDW from $233.00 to $220.00 and set a “buy” rating on the stock in a research report on Tuesday, January 7th. 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. cut shares of CDW from an “overweight” rating to a “neutral” rating and dropped their target price for the company from $260.00 to $235.00 in a research note on Monday, October 28th. 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 on the stock. Finally, Barclays dropped their target price on shares of CDW from $229.00 to $201.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 31st. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently 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.