Oppenheimer & Co. Inc. Sells 120 Shares of CDW Co. (NASDAQ:CDW)

Oppenheimer & Co. Inc. lowered its position in shares of CDW Co. (NASDAQ:CDW) by 6.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,688 shares of the information technology services provider’s stock after selling 120 shares during the period. Oppenheimer & Co. Inc.’s holdings in CDW were worth $382,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of CDW. ORG Partners LLC purchased a new stake in shares of CDW during the second quarter valued at about $34,000. Quest Partners LLC purchased a new stake in CDW during the second quarter valued at approximately $35,000. Canoe Financial LP acquired a new stake in CDW in the third quarter valued at approximately $37,000. Fortitude Family Office LLC increased its holdings in shares of CDW by 350.0% during the third quarter. Fortitude Family Office LLC now owns 171 shares of the information technology services provider’s stock valued at $39,000 after acquiring an additional 133 shares in the last quarter. Finally, Summit Securities Group LLC purchased a new position in CDW in the 2nd quarter worth $40,000. Institutional investors own 93.15% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on CDW shares. JPMorgan Chase & Co. downgraded CDW from an “overweight” rating to a “neutral” rating and lowered their target price for the stock from $260.00 to $235.00 in a research note on Monday, October 28th. Redburn Atlantic started coverage on shares of CDW in a report on Friday, November 15th. They issued a “buy” rating and a $230.00 price objective for the company. Citigroup downgraded shares of CDW from a “buy” rating to a “neutral” rating and cut their price target for the stock from $250.00 to $245.00 in a report on Tuesday, October 1st. Finally, Barclays dropped their target price on CDW from $229.00 to $201.00 and set an “equal weight” rating for the company in a research report on Thursday, October 31st. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $244.63.

CDW Trading Up 1.1 %

Shares of NASDAQ:CDW opened at $177.91 on Friday. 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 52 week low of $172.95 and a 52 week high of $263.37. The company has a market cap of $23.71 billion, a PE ratio of 21.75, a P/E/G ratio of 4.86 and a beta of 1.05. The company’s 50 day moving average is $211.13 and its two-hundred day moving average is $219.03.

CDW (NASDAQ:CDW) last announced its quarterly earnings results 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 analysts’ expectations of $5.72 billion. CDW had a net margin of 5.33% and a return on equity of 58.31%. The business’s revenue for the quarter was down 2.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.60 earnings per share. Equities analysts predict that CDW Co. will post 9.05 earnings per share for the current fiscal year.

CDW Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Monday, November 25th will be issued a $0.625 dividend. 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 1.41%. The ex-dividend date is Monday, November 25th. CDW’s payout ratio is presently 30.32%.

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.