Bank of Montreal Can decreased its holdings in shares of CDW Co. (NASDAQ:CDW - Free Report) by 14.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 163,883 shares of the information technology services provider's stock after selling 26,624 shares during the quarter. Bank of Montreal Can owned about 0.12% of CDW worth $37,128,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Private Trust Co. NA grew its stake in shares of CDW by 10.9% in the third quarter. Private Trust Co. NA now owns 2,029 shares of the information technology services provider's stock valued at $459,000 after buying an additional 200 shares in the last quarter. Brown Brothers Harriman & Co. grew its stake in shares of CDW by 13.4% in the third quarter. Brown Brothers Harriman & Co. now owns 1,373 shares of the information technology services provider's stock valued at $311,000 after buying an additional 162 shares in the last quarter. Harvest Fund Management Co. Ltd grew its stake in shares of CDW by 48.2% in the third quarter. Harvest Fund Management Co. Ltd now owns 6,153 shares of the information technology services provider's stock valued at $1,392,000 after buying an additional 2,002 shares in the last quarter. Daiwa Securities Group Inc. grew its stake in shares of CDW by 20.6% in the third quarter. Daiwa Securities Group Inc. now owns 26,999 shares of the information technology services provider's stock valued at $6,110,000 after buying an additional 4,620 shares in the last quarter. Finally, Summit Trail Advisors LLC grew its stake in shares of CDW by 5.3% in the third quarter. Summit Trail Advisors LLC now owns 3,984 shares of the information technology services provider's stock valued at $902,000 after buying an additional 199 shares in the last quarter. Institutional investors and hedge funds own 93.15% of the company's stock.
Analyst Upgrades and Downgrades
A number of research analysts recently issued reports on CDW shares. JPMorgan Chase & Co. lowered CDW from an "overweight" rating to a "neutral" rating and decreased their target price for the company from $260.00 to $235.00 in a report on Monday, October 28th. Redburn Atlantic started coverage on CDW in a report on Friday, November 15th. They issued a "buy" rating and a $230.00 target price for the company. Barclays decreased their target price on CDW from $229.00 to $201.00 and set an "equal weight" rating for the company in a report on Thursday, October 31st. Finally, Citigroup lowered CDW from a "buy" rating to a "neutral" rating and decreased their target price for the company from $250.00 to $245.00 in a report on Tuesday, October 1st. Four analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $244.63.
Read Our Latest Stock Report on CDW
CDW Stock Down 0.5 %
NASDAQ CDW traded down $0.82 during trading on Friday, reaching $175.93. 957,986 shares of the company's stock were exchanged, compared to its average volume of 908,531. The stock has a market cap of $23.44 billion, a P/E ratio of 21.61, a price-to-earnings-growth ratio of 4.97 and a beta of 1.05. The company has a debt-to-equity ratio of 2.39, a quick ratio of 1.28 and a current ratio of 1.40. The company has a 50 day moving average price of $205.86 and a two-hundred day moving average price of $217.24. CDW Co. has a 1 year low of $172.95 and a 1 year high of $263.37.
CDW (NASDAQ:CDW - Get Free Report) last posted its earnings results on Wednesday, October 30th. The information technology services provider reported $2.63 earnings per share for the quarter, missing the consensus estimate of $2.68 by ($0.05). CDW had a net margin of 5.33% and a return on equity of 58.31%. The firm had revenue of $5.52 billion during the quarter, compared to analysts' expectations of $5.72 billion. During the same period in the previous year, the firm posted $2.60 earnings per share. The firm's revenue for the quarter was down 2.0% on a year-over-year basis. On average, equities research analysts anticipate that CDW Co. will post 8.99 EPS 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 1.42%. The ex-dividend date of this dividend is Monday, November 25th. CDW's payout ratio is presently 30.56%.
About CDW
(
Free Report)
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.
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