Angeles Investment Advisors LLC Sells 94 Shares of CDW Co. (NASDAQ:CDW)

Angeles Investment Advisors LLC lessened its position in CDW Co. (NASDAQ:CDW) by 9.4% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 911 shares of the information technology services provider’s stock after selling 94 shares during the period. Angeles Investment Advisors LLC’s holdings in CDW were worth $206,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Aigen Investment Management LP bought a new stake in shares of CDW during the third quarter worth about $803,000. Sumitomo Mitsui Trust Group Inc. boosted its stake in CDW by 1.9% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 331,969 shares of the information technology services provider’s stock valued at $75,125,000 after purchasing an additional 6,161 shares during the last quarter. Entropy Technologies LP increased its holdings in CDW by 42.0% during the 3rd quarter. Entropy Technologies LP now owns 3,786 shares of the information technology services provider’s stock worth $857,000 after purchasing an additional 1,120 shares in the last quarter. Apollon Wealth Management LLC raised its stake in shares of CDW by 36.1% in the third quarter. Apollon Wealth Management LLC now owns 2,938 shares of the information technology services provider’s stock worth $665,000 after purchasing an additional 779 shares during the last quarter. Finally, WCM Investment Management LLC lifted its holdings in shares of CDW by 4.6% in 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 purchasing an additional 61 shares in the last quarter. Institutional investors own 93.15% of the company’s stock.

CDW Trading Down 3.1 %

Shares of CDW stock opened at $186.01 on Thursday. The stock has a fifty day moving average price of $214.86 and a 200-day moving average price of $220.81. 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 cap of $24.79 billion, a PE ratio of 22.74, a P/E/G ratio of 5.35 and a beta of 1.05. CDW Co. has a 1 year low of $185.70 and a 1 year high of $263.37.

CDW (NASDAQ:CDW) last announced its quarterly earnings data on Wednesday, October 30th. The information technology services provider reported $2.63 EPS for the quarter, missing the consensus estimate of $2.68 by ($0.05). The company had revenue of $5.52 billion during 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%. The business’s revenue was down 2.0% on a year-over-year basis. During the same period in the prior year, the firm posted $2.60 EPS. Equities research analysts anticipate that CDW Co. will post 9.05 EPS for the current year.

CDW Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Monday, November 25th will be paid a $0.625 dividend. This is an increase from CDW’s previous quarterly dividend of $0.62. The ex-dividend date of this dividend is Monday, November 25th. This represents a $2.50 annualized dividend and a yield of 1.34%. CDW’s dividend payout ratio is presently 30.32%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on CDW. Stifel Nicolaus upped their price target on CDW from $250.00 to $260.00 and gave the stock a “buy” rating in a report on Wednesday, July 17th. Citigroup lowered shares of CDW from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $250.00 to $245.00 in a research note on Tuesday, October 1st. Barclays lowered their target price on shares of CDW from $229.00 to $201.00 and set an “equal weight” rating for the company in a report on Thursday, October 31st. Finally, JPMorgan Chase & Co. downgraded shares of CDW from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $260.00 to $235.00 in a research report on Monday, October 28th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $246.71.

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.