Gateway Investment Advisers LLC Reduces Stake in CDW Co. (NASDAQ:CDW)

Gateway Investment Advisers LLC lessened its stake in shares of CDW Co. (NASDAQ:CDW) by 2.5% during the 4th quarter, Holdings Channel reports. The fund owned 120,688 shares of the information technology services provider’s stock after selling 3,105 shares during the quarter. Gateway Investment Advisers LLC’s holdings in CDW were worth $21,005,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of CDW. Quest Partners LLC acquired a new position in CDW in the second quarter valued at approximately $35,000. Canoe Financial LP purchased a new stake in CDW in the third quarter valued at $37,000. Fortitude Family Office LLC grew its holdings in shares of CDW by 350.0% during the 3rd quarter. Fortitude Family Office LLC now owns 171 shares of the information technology services provider’s stock worth $39,000 after purchasing an additional 133 shares during the period. Ashton Thomas Securities LLC purchased a new position in shares of CDW during the 3rd quarter worth $43,000. Finally, Covestor Ltd increased its position in shares of CDW by 80.1% during the 3rd quarter. Covestor Ltd now owns 245 shares of the information technology services provider’s stock worth $55,000 after purchasing an additional 109 shares during the last quarter. Institutional investors and hedge funds own 93.15% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Morgan Stanley increased their target price on shares of CDW from $190.00 to $193.00 and gave the stock an “equal weight” rating in a research note on Monday, December 16th. UBS Group lowered their price objective on shares of CDW from $233.00 to $220.00 and set a “buy” rating for the company in a research report on Tuesday, January 7th. Barclays cut their target price on CDW from $229.00 to $201.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 31st. JPMorgan Chase & Co. lowered CDW from an “overweight” rating to a “neutral” rating and lowered their price target for the stock from $260.00 to $235.00 in a research report on Monday, October 28th. Finally, Redburn Atlantic started coverage on CDW in a research note on Friday, November 15th. They issued a “buy” rating and a $230.00 price objective for the company. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $239.33.

CDW Stock Up 0.2 %

CDW stock opened at $187.79 on Friday. The firm has a market capitalization of $25.02 billion, a P/E ratio of 22.96, a P/E/G ratio of 4.91 and a beta of 1.01. The company has a current ratio of 1.40, a quick ratio of 1.28 and a debt-to-equity ratio of 2.39. CDW Co. has a twelve month low of $168.43 and a twelve month high of $263.37. The stock’s fifty day simple moving average is $179.35 and its 200-day simple moving average is $205.58.

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

CDW Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Monday, November 25th were paid a $0.625 dividend. The ex-dividend date of this dividend was Monday, November 25th. This represents a $2.50 dividend on an annualized basis and a yield of 1.33%. This is an increase from CDW’s previous quarterly dividend of $0.62. CDW’s payout ratio is currently 30.56%.

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.