Gulf International Bank UK Ltd Sells 462 Shares of CDW Co. (NASDAQ:CDW)

Gulf International Bank UK Ltd lowered its position in CDW Co. (NASDAQ:CDW) by 4.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,651 shares of the information technology services provider’s stock after selling 462 shares during the quarter. Gulf International Bank UK Ltd’s holdings in CDW were worth $2,410,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. RDA Financial Network increased its stake in shares of CDW by 3.0% during the second quarter. RDA Financial Network now owns 1,587 shares of the information technology services provider’s stock valued at $355,000 after buying an additional 46 shares during the period. PDS Planning Inc increased its position in CDW by 4.3% during the 3rd 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 period. Oregon Public Employees Retirement Fund lifted its position in shares of CDW by 0.5% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 11,541 shares of the information technology services provider’s stock worth $2,583,000 after purchasing an additional 54 shares during the period. Smithfield Trust Co lifted its position in shares of CDW by 4.1% in the 1st quarter. Smithfield Trust Co now owns 1,434 shares of the information technology services provider’s stock worth $367,000 after purchasing an additional 57 shares during the period. Finally, Profund Advisors LLC boosted its stake in shares of CDW by 0.5% during the second quarter. Profund Advisors LLC now owns 12,469 shares of the information technology services provider’s stock valued at $2,791,000 after purchasing an additional 58 shares in the last quarter. 93.15% of the stock is currently owned by hedge funds and other institutional investors.

CDW Trading Up 5.1 %

Shares of NASDAQ:CDW opened at $202.79 on Thursday. 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 has a market capitalization of $27.02 billion, a P/E ratio of 24.79, a P/E/G ratio of 5.07 and a beta of 1.05. The business’s 50-day moving average is $217.42 and its 200 day moving average is $222.39. CDW Co. has a 1 year low of $187.73 and a 1 year high of $263.37.

CDW (NASDAQ:CDW) last posted its quarterly earnings data 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 analyst estimates of $5.72 billion. CDW had a net margin of 5.33% and a return on equity of 58.31%. The business’s revenue was down 2.0% compared to the same quarter last year. During the same quarter last year, the company earned $2.60 EPS. On average, research analysts predict that CDW Co. will post 9.38 earnings per share for the current fiscal year.

CDW Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Monday, November 25th will be paid a dividend of $0.625 per share. This is an increase from CDW’s previous quarterly dividend of $0.62. This represents a $2.50 annualized dividend and a dividend yield of 1.23%. The ex-dividend date of this dividend is Monday, November 25th. CDW’s payout ratio is presently 30.32%.

Analyst Upgrades and Downgrades

CDW has been the subject of a number of analyst reports. Barclays lowered their target price on CDW from $229.00 to $201.00 and set an “equal weight” rating for the company in a report on Thursday, October 31st. Stifel Nicolaus upped their price objective on CDW from $250.00 to $260.00 and gave the stock a “buy” rating in a research note on Wednesday, July 17th. Citigroup lowered CDW from a “buy” rating to a “neutral” rating and cut their target price for the company from $250.00 to $245.00 in a research note on Tuesday, October 1st. Finally, JPMorgan Chase & Co. lowered shares of CDW from an “overweight” rating to a “neutral” rating and decreased their price target for the company from $260.00 to $235.00 in a research report on Monday, October 28th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $246.71.

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.