Wakefield Asset Management LLLP Sells 146 Shares of CDW Co. (NASDAQ:CDW)

Wakefield Asset Management LLLP trimmed its stake in shares of CDW Co. (NASDAQ:CDWGet Rating) by 0.9% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 15,494 shares of the information technology services provider’s stock after selling 146 shares during the quarter. Wakefield Asset Management LLLP’s holdings in CDW were worth $2,418,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. Total Clarity Wealth Management Inc. purchased a new position in shares of CDW during the 2nd quarter valued at $26,000. Allworth Financial LP increased its stake in CDW by 4,250.0% in the 2nd quarter. Allworth Financial LP now owns 174 shares of the information technology services provider’s stock worth $27,000 after acquiring an additional 170 shares during the last quarter. SeaCrest Wealth Management LLC purchased a new position in shares of CDW during the second quarter worth about $40,000. Clear Street Markets LLC increased its position in shares of CDW by 405.4% in the second quarter. Clear Street Markets LLC now owns 283 shares of the information technology services provider’s stock worth $45,000 after purchasing an additional 227 shares during the last quarter. Finally, CX Institutional purchased a new stake in CDW in the second quarter valued at approximately $45,000. Hedge funds and other institutional investors own 92.78% of the company’s stock.

Analysts Set New Price Targets

CDW has been the subject of a number of research reports. Raymond James cut their price target on shares of CDW from $220.00 to $200.00 and set an “outperform” rating for the company in a research note on Thursday, November 3rd. StockNews.com lowered CDW from a “buy” rating to a “hold” rating in a research note on Friday, January 20th. Morgan Stanley increased their price objective on CDW from $210.00 to $217.00 and gave the company an “overweight” rating in a research report on Wednesday, January 18th. JPMorgan Chase & Co. lifted their price target on shares of CDW from $215.00 to $225.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 20th. Finally, Credit Suisse Group increased their target price on shares of CDW from $202.00 to $220.00 and gave the company an “outperform” rating in a report on Wednesday, January 18th. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $213.14.

CDW Trading Down 2.1 %

Shares of NASDAQ:CDW traded down $4.19 during trading on Wednesday, reaching $192.95. 30,387 shares of the company traded hands, compared to its average volume of 723,374. The firm has a market capitalization of $26.12 billion, a price-to-earnings ratio of 25.91, a P/E/G ratio of 1.53 and a beta of 1.14. CDW Co. has a 52-week low of $147.91 and a 52-week high of $201.78. The company has a current ratio of 1.29, a quick ratio of 1.12 and a debt-to-equity ratio of 4.60. The business’s fifty day moving average is $186.38 and its 200-day moving average is $176.21.

CDW (NASDAQ:CDWGet Rating) last issued its quarterly earnings data on Wednesday, November 2nd. The information technology services provider reported $2.47 EPS for the quarter, beating the consensus estimate of $2.42 by $0.05. The firm had revenue of $6.22 billion during the quarter, compared to the consensus estimate of $6.21 billion. CDW had a net margin of 4.37% and a return on equity of 121.34%. As a group, analysts forecast that CDW Co. will post 9.27 EPS for the current year.

CDW Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 9th. Stockholders of record on Friday, November 25th were given a $0.59 dividend. This is a positive change from CDW’s previous quarterly dividend of $0.50. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.22%. The ex-dividend date was Wednesday, November 23rd. CDW’s dividend payout ratio (DPR) is currently 31.01%.

CDW Company Profile

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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, hybrid, and cloud capabilities across data center and networking, digital workspace, and security.

Further Reading

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Institutional Ownership by Quarter for CDW (NASDAQ:CDW)

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