Horizon Bancorp Inc. IN Sells 78 Shares of CDW Co. (NASDAQ:CDW)

Horizon Bancorp Inc. IN reduced its stake in shares of CDW Co. (NASDAQ:CDW) by 10.0% in the fourth quarter, Holdings Channel reports. The fund owned 703 shares of the information technology services provider’s stock after selling 78 shares during the quarter. Horizon Bancorp Inc. IN’s holdings in CDW were worth $122,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. Trust Co. of Toledo NA OH increased its stake in shares of CDW by 9.1% in the fourth quarter. Trust Co. of Toledo NA OH now owns 1,787 shares of the information technology services provider’s stock worth $311,000 after purchasing an additional 149 shares in the last quarter. Czech National Bank grew its stake in CDW by 6.2% in the 4th quarter. Czech National Bank now owns 28,895 shares of the information technology services provider’s stock valued at $5,029,000 after buying an additional 1,685 shares in the last quarter. ORG Wealth Partners LLC bought a new stake in CDW during the 4th quarter valued at $69,000. Ridgewood Investments LLC bought a new position in shares of CDW in the fourth quarter worth $104,000. Finally, Diversified Trust Co purchased a new position in shares of CDW in the fourth quarter valued at $1,529,000. Hedge funds and other institutional investors own 93.15% of the company’s stock.

CDW Trading Down 1.2 %

CDW stock opened at $180.92 on Tuesday. The company has a debt-to-equity ratio of 2.39, a quick ratio of 1.28 and a current ratio of 1.40. CDW Co. has a one year low of $168.43 and a one year high of $263.37. The company’s 50 day moving average price is $180.30 and its two-hundred day moving average price is $206.40. The company has a market capitalization of $24.11 billion, a PE ratio of 22.12, a price-to-earnings-growth ratio of 5.01 and a beta of 1.01.

CDW (NASDAQ:CDW) last posted its quarterly earnings results on Wednesday, October 30th. The information technology services provider reported $2.63 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.68 by ($0.05). The company had revenue of $5.52 billion for the quarter, compared to the consensus estimate of $5.72 billion. CDW had a return on equity of 58.31% and a net margin of 5.33%. CDW’s revenue was down 2.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.60 earnings per share. As a group, analysts predict that CDW Co. will post 8.99 earnings per share for the current fiscal year.

CDW Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Monday, November 25th were issued a $0.625 dividend. The ex-dividend date of this dividend was Monday, November 25th. This represents a $2.50 annualized dividend and a yield of 1.38%. This is a boost from CDW’s previous quarterly dividend of $0.62. CDW’s dividend payout ratio (DPR) is 30.56%.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. JPMorgan Chase & Co. downgraded CDW from an “overweight” rating to a “neutral” rating and cut their target price for the stock from $260.00 to $235.00 in a research note on Monday, October 28th. Barclays decreased their target price on shares of CDW from $229.00 to $201.00 and set an “equal weight” rating on the stock in a report on Thursday, October 31st. Citigroup downgraded shares of CDW from a “buy” rating to a “neutral” rating and cut their price target for the company from $250.00 to $245.00 in a report on Tuesday, October 1st. Redburn Atlantic initiated coverage on CDW in a research report on Friday, November 15th. They issued a “buy” rating and a $230.00 price objective on the stock. Finally, UBS Group reduced their target price on CDW from $233.00 to $220.00 and set a “buy” rating for the company in a research report on Tuesday, January 7th. Four equities research 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, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $239.33.

CDW 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.