Ninety One North America Inc. Cuts Stake in CDW Co. (NASDAQ:CDW)

Ninety One North America Inc. reduced its stake in CDW Co. (NASDAQ:CDW) by 11.6% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 3,268 shares of the information technology services provider’s stock after selling 428 shares during the quarter. Ninety One North America Inc.’s holdings in CDW were worth $569,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. PDS Planning Inc lifted its holdings in CDW by 4.3% during the third quarter. PDS Planning Inc now owns 1,186 shares of the information technology services provider’s stock valued at $268,000 after purchasing an additional 49 shares during the last quarter. OneAscent Wealth Management LLC increased its position in shares of CDW by 2.5% during the third quarter. OneAscent Wealth Management LLC now owns 2,387 shares of the information technology services provider’s stock valued at $540,000 after buying an additional 58 shares during the period. Fulcrum Equity Management increased its position in shares of CDW by 4.3% during the third quarter. Fulcrum Equity Management now owns 1,442 shares of the information technology services provider’s stock valued at $326,000 after buying an additional 60 shares during the period. WCM Investment Management LLC increased its position in shares of CDW by 4.6% during the third quarter. WCM Investment Management LLC now owns 1,380 shares of the information technology services provider’s stock valued at $313,000 after buying an additional 61 shares during the period. Finally, Harbour Trust & Investment Management Co increased its position in shares of CDW by 0.3% during the third quarter. Harbour Trust & Investment Management Co now owns 20,869 shares of the information technology services provider’s stock valued at $4,723,000 after buying an additional 62 shares during the period. 93.15% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on CDW. UBS Group decreased their price target on CDW from $233.00 to $220.00 and set a “buy” rating on the stock in a research report on Tuesday, January 7th. Barclays decreased their price objective on shares of CDW from $229.00 to $201.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 31st. Redburn Atlantic started coverage on shares of CDW in a research report on Friday, November 15th. They issued a “buy” rating and a $230.00 price objective on the stock. Morgan Stanley upped their price objective on shares of CDW from $190.00 to $193.00 and gave the stock an “equal weight” rating in a research report on Monday, December 16th. Finally, JPMorgan Chase & Co. cut 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 research report on Monday, October 28th. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $239.33.

CDW Stock Up 0.9 %

Shares of NASDAQ CDW opened at $200.18 on Tuesday. The stock has a market capitalization of $26.68 billion, a P/E ratio of 24.43, a PEG ratio of 5.39 and a beta of 1.01. CDW Co. has a one year low of $168.43 and a one 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. The firm’s 50 day simple moving average is $182.06 and its two-hundred day simple moving average is $202.83.

CDW Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Monday, November 25th were paid a dividend of $0.625 per share. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.25%. The ex-dividend date of this dividend was Monday, November 25th. This is a positive change from CDW’s previous quarterly dividend of $0.62. CDW’s dividend payout ratio is 30.56%.

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.