CDW Co. (NASDAQ:CDW) Shares Sold by Blueshift Asset Management LLC

Blueshift Asset Management LLC reduced its position in CDW Co. (NASDAQ:CDW) by 56.7% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 1,414 shares of the information technology services provider’s stock after selling 1,855 shares during the period. Blueshift Asset Management LLC’s holdings in CDW were worth $320,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. LRI Investments LLC acquired a new stake in shares of CDW in the first quarter worth approximately $68,000. Swedbank AB purchased a new stake in shares of CDW during the 1st quarter valued at $13,095,000. Atria Investments Inc increased its holdings in shares of CDW by 7.0% during the 1st quarter. Atria Investments Inc now owns 16,603 shares of the information technology services provider’s stock worth $4,247,000 after buying an additional 1,084 shares during the last quarter. Cetera Investment Advisers raised its position in shares of CDW by 165.3% in the 1st quarter. Cetera Investment Advisers now owns 9,665 shares of the information technology services provider’s stock worth $2,472,000 after buying an additional 6,022 shares during the period. Finally, Cetera Advisors LLC boosted its holdings in CDW by 27.7% in the first quarter. Cetera Advisors LLC now owns 2,016 shares of the information technology services provider’s stock valued at $516,000 after acquiring an additional 437 shares during the last quarter. Hedge funds and other institutional investors own 93.15% of the company’s stock.

CDW Stock Performance

CDW stock opened at $176.75 on Friday. CDW Co. has a 12-month low of $172.95 and a 12-month 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 company has a market capitalization of $23.55 billion, a price-to-earnings ratio of 21.61, a price-to-earnings-growth ratio of 5.10 and a beta of 1.05. The firm’s fifty day moving average price is $206.88 and its 200 day moving average price is $217.52.

CDW (NASDAQ:CDW) last announced its earnings results 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 business 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 firm’s revenue was down 2.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.60 earnings per share. On average, research analysts forecast that CDW Co. will post 8.99 EPS for the current fiscal year.

CDW Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Monday, November 25th will be given a $0.625 dividend. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.41%. This is a positive change from CDW’s previous quarterly dividend of $0.62. The ex-dividend date of this dividend is Monday, November 25th. CDW’s dividend payout ratio is presently 30.56%.

Wall Street Analyst Weigh In

Several equities research analysts have commented on CDW shares. 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. Redburn Atlantic initiated coverage on shares of CDW in a report on Friday, November 15th. They issued a “buy” rating and a $230.00 price target 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 research note on Monday, October 28th. Finally, Barclays cut 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 investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $244.63.

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.