CDW Co. (NASDAQ:CDW) Shares Sold by Caprock Group LLC

Caprock Group LLC cut its stake in shares of CDW Co. (NASDAQ:CDW) by 8.0% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 5,199 shares of the information technology services provider’s stock after selling 452 shares during the period. Caprock Group LLC’s holdings in CDW were worth $1,177,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Dimensional Fund Advisors LP increased its holdings in shares of CDW by 11.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,292,674 shares of the information technology services provider’s stock valued at $289,357,000 after acquiring an additional 128,263 shares during the last quarter. Lazard Asset Management LLC lifted its position in shares of CDW by 225.9% during the 1st quarter. Lazard Asset Management LLC now owns 881,586 shares of the information technology services provider’s stock worth $225,491,000 after buying an additional 611,054 shares during the last quarter. Boston Partners boosted its holdings in shares of CDW by 1.9% in the 1st quarter. Boston Partners now owns 807,590 shares of the information technology services provider’s stock valued at $206,519,000 after buying an additional 15,178 shares in the last quarter. Perpetual Ltd purchased a new position in shares of CDW in the 3rd quarter valued at $158,300,000. Finally, Price T Rowe Associates Inc. MD boosted its stake in CDW by 46.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 620,190 shares of the information technology services provider’s stock valued at $158,634,000 after acquiring an additional 195,951 shares in the last quarter. 93.15% of the stock is currently owned by hedge funds and other institutional investors.

CDW Price Performance

Shares of NASDAQ CDW opened at $177.91 on Friday. 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 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 stock has a fifty day moving average price of $211.13 and a 200 day moving average price of $219.03. CDW Co. has a 1-year low of $172.95 and a 1-year high of $263.37.

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). CDW had a return on equity of 58.31% and a net margin of 5.33%. The firm had revenue of $5.52 billion for the quarter, compared to analysts’ expectations of $5.72 billion. During the same period in the prior year, the company earned $2.60 earnings per share. The company’s revenue for the quarter was down 2.0% on a year-over-year basis. Sell-side analysts forecast that CDW Co. will post 9.05 EPS for the current year.

CDW Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Monday, November 25th will be issued a $0.625 dividend. The ex-dividend date of this dividend is Monday, November 25th. This represents a $2.50 dividend on an annualized basis and a yield of 1.41%. This is an increase from CDW’s previous quarterly dividend of $0.62. CDW’s dividend payout ratio (DPR) is 30.32%.

Analyst Upgrades and Downgrades

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

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.