Graypoint LLC Sells 243 Shares of CDW Co. (NASDAQ:CDW)

Graypoint LLC trimmed its position in shares of CDW Co. (NASDAQ:CDW) by 14.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,410 shares of the information technology services provider’s stock after selling 243 shares during the quarter. Graypoint LLC’s holdings in CDW were worth $245,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Oddo BHF Asset Management Sas bought a new position in shares of CDW during the 3rd quarter valued at $1,629,000. Franklin Resources Inc. lifted its holdings in shares of CDW by 3.4% during the 3rd quarter. Franklin Resources Inc. now owns 108,009 shares of the information technology services provider’s stock valued at $24,138,000 after buying an additional 3,567 shares during the period. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund bought a new position in shares of CDW during the 3rd quarter valued at $12,761,000. Thrivent Financial for Lutherans increased its stake in shares of CDW by 12.8% in the 3rd quarter. Thrivent Financial for Lutherans now owns 599,900 shares of the information technology services provider’s stock worth $135,758,000 after purchasing an additional 68,023 shares in the last quarter. Finally, Diversified Trust Co purchased a new stake in shares of CDW in the 4th quarter worth $1,529,000. 93.15% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Morgan Stanley upped their price objective on 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 reduced their price objective on CDW from $233.00 to $220.00 and set a “buy” rating for the company in a research note on Tuesday, January 7th. Redburn Atlantic assumed 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. JPMorgan Chase & Co. lowered 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 note on Monday, October 28th. Finally, Citigroup lowered 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 research note on Tuesday, October 1st. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $239.33.

CDW Trading Up 1.0 %

Shares of CDW stock opened at $183.14 on Monday. The firm has a market capitalization of $24.41 billion, a PE ratio of 22.39, a PEG ratio of 5.01 and a beta of 1.01. The stock has a fifty day simple moving average of $180.30 and a two-hundred day simple moving average of $206.40. The company has a debt-to-equity ratio of 2.39, a quick ratio of 1.28 and a current ratio of 1.40. CDW Co. has a 52-week low of $168.43 and a 52-week high of $263.37.

CDW (NASDAQ:CDW) last issued its quarterly earnings data on Wednesday, October 30th. The information technology services provider reported $2.63 earnings per share for the quarter, missing analysts’ consensus estimates of $2.68 by ($0.05). The firm had revenue of $5.52 billion for 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 company’s revenue for the quarter was down 2.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.60 EPS. On average, analysts predict that CDW Co. will post 8.99 EPS for the current fiscal year.

CDW Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Monday, November 25th were given a dividend of $0.625 per share. This is a positive change from CDW’s previous quarterly dividend of $0.62. The ex-dividend date of this dividend was Monday, November 25th. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.37%. CDW’s dividend payout ratio (DPR) is presently 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.