CDW Co. (NASDAQ:CDW) Shares Sold by Aaron Wealth Advisors LLC

Aaron Wealth Advisors LLC reduced its stake in CDW Co. (NASDAQ:CDW) by 31.6% during the 4th quarter, HoldingsChannel.com reports. The fund owned 1,199 shares of the information technology services provider’s stock after selling 553 shares during the quarter. Aaron Wealth Advisors LLC’s holdings in CDW were worth $209,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Canoe Financial LP lifted its stake in CDW by 68.3% during the fourth quarter. Canoe Financial LP now owns 276 shares of the information technology services provider’s stock worth $48,000 after purchasing an additional 112 shares in the last quarter. Merit Financial Group LLC lifted its stake in CDW by 35.6% during the 4th quarter. Merit Financial Group LLC now owns 4,093 shares of the information technology services provider’s stock worth $712,000 after acquiring an additional 1,075 shares in the last quarter. Avanza Fonder AB purchased a new position in CDW during the 4th quarter valued at about $1,722,000. RDA Financial Network lifted its position in shares of CDW by 37.8% during the fourth quarter. RDA Financial Network now owns 2,256 shares of the information technology services provider’s stock worth $393,000 after purchasing an additional 619 shares in the last quarter. Finally, Assenagon Asset Management S.A. boosted its stake in shares of 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 valued at $44,601,000 after purchasing an additional 252,921 shares during the period. Hedge funds and other institutional investors own 93.15% of the company’s stock.

CDW Trading Up 1.5 %

CDW opened at $191.59 on Wednesday. The business’s 50-day simple moving average is $178.94 and its 200-day simple moving average is $204.80. The company has a market cap of $25.53 billion, a P/E ratio of 23.42, a PEG ratio of 5.11 and a beta of 1.01. CDW Co. has a one year low of $168.43 and a one year high of $263.37. 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 (NASDAQ:CDW) last released 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). CDW had a return on equity of 58.31% and a net margin of 5.33%. The company had revenue of $5.52 billion for the quarter, compared to analyst estimates of $5.72 billion. During the same period in the previous year, the business posted $2.60 EPS. The firm’s revenue for the quarter was down 2.0% compared to the same quarter last year. As a group, equities research analysts expect that CDW Co. will post 8.99 EPS for the current fiscal year.

CDW Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Monday, November 25th were paid a $0.625 dividend. This represents a $2.50 annualized dividend and a yield of 1.30%. The ex-dividend date of this dividend was Monday, November 25th. This is an increase from CDW’s previous quarterly dividend of $0.62. CDW’s dividend payout ratio is currently 30.56%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on CDW shares. Barclays reduced their target price on shares of CDW from $229.00 to $201.00 and set an “equal weight” rating on the stock in a report on Thursday, October 31st. Morgan Stanley increased their price objective on CDW from $190.00 to $193.00 and gave the company an “equal weight” rating in a research note on Monday, December 16th. JPMorgan Chase & Co. downgraded CDW from an “overweight” rating to a “neutral” rating and cut their price target for the stock from $260.00 to $235.00 in a report on Monday, October 28th. Redburn Atlantic assumed coverage on CDW in a research report on Friday, November 15th. They issued a “buy” rating and a $230.00 price target on the stock. Finally, Citigroup downgraded CDW from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $250.00 to $245.00 in a research report on Tuesday, October 1st. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, CDW currently has an average rating of “Moderate Buy” and an average 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.