Wealthcare Advisory Partners LLC Cuts Position in CDW Co. (NASDAQ:CDW)

Wealthcare Advisory Partners LLC decreased its stake in CDW Co. (NASDAQ:CDW) by 6.8% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 4,992 shares of the information technology services provider’s stock after selling 362 shares during the period. Wealthcare Advisory Partners LLC’s holdings in CDW were worth $869,000 as of its most recent filing with the SEC.

Several other institutional investors have also bought and sold shares of CDW. Oddo BHF Asset Management Sas purchased a new stake in CDW during the third quarter valued at about $1,629,000. Assenagon Asset Management S.A. grew its position in CDW by 7,549.9% in the fourth quarter. Assenagon Asset Management S.A. now owns 256,271 shares of the information technology services provider’s stock worth $44,601,000 after acquiring an additional 252,921 shares in the last quarter. Franklin Resources Inc. increased its position 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 purchasing an additional 3,567 shares during the last quarter. Czech National Bank raised its stake in shares of CDW by 6.2% during the fourth quarter. Czech National Bank now owns 28,895 shares of the information technology services provider’s stock worth $5,029,000 after acquiring an additional 1,685 shares in the last quarter. Finally, United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund bought a new stake in CDW in the third quarter worth $12,761,000. Hedge funds and other institutional investors own 93.15% of the company’s stock.

CDW Price Performance

Shares of NASDAQ:CDW opened at $188.70 on Monday. The company has a quick ratio of 1.28, a current ratio of 1.40 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 has a market capitalization of $25.15 billion, a PE ratio of 23.07, a price-to-earnings-growth ratio of 4.91 and a beta of 1.01. The firm’s 50 day moving average price is $179.13 and its 200-day moving average price is $205.18.

CDW (NASDAQ:CDW) last posted 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 firm’s quarterly revenue was down 2.0% compared to the same quarter last year. During the same period last year, the business earned $2.60 EPS. Equities research analysts expect that CDW Co. will post 8.99 EPS for the current year.

CDW Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Monday, November 25th were given a $0.625 dividend. This represents a $2.50 annualized dividend and a dividend yield of 1.32%. This is an increase from CDW’s previous quarterly dividend of $0.62. The ex-dividend date of this dividend was Monday, November 25th. CDW’s payout ratio is presently 30.56%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on CDW. Barclays dropped their price objective on CDW from $229.00 to $201.00 and set an “equal weight” rating for the company in a research note on Thursday, October 31st. JPMorgan Chase & Co. downgraded CDW from an “overweight” rating to a “neutral” rating and reduced their target price for the stock from $260.00 to $235.00 in a report on Monday, October 28th. Morgan Stanley increased their price target 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. Redburn Atlantic began coverage on CDW in a research note on Friday, November 15th. They set a “buy” rating and a $230.00 price objective for the company. Finally, Citigroup downgraded shares of CDW from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $250.00 to $245.00 in a research note on Tuesday, October 1st. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $239.33.

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.