CDW Co. (NASDAQ:CDW) Shares Sold by BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp trimmed its position in shares of CDW Co. (NASDAQ:CDW - Free Report) by 12.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 22,421 shares of the information technology services provider's stock after selling 3,283 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp's holdings in CDW were worth $5,074,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the company. Quest Partners LLC purchased a new stake in CDW in the 2nd quarter valued at about $35,000. ORG Partners LLC purchased a new stake in shares of CDW in the 2nd quarter worth approximately $34,000. Canoe Financial LP purchased a new stake in shares of CDW in the 3rd quarter worth approximately $37,000. Fortitude Family Office LLC lifted its position in shares of CDW by 350.0% in the 3rd quarter. Fortitude Family Office LLC now owns 171 shares of the information technology services provider's stock worth $39,000 after purchasing an additional 133 shares during the period. Finally, Summit Securities Group LLC purchased a new stake in shares of CDW in the 2nd quarter worth approximately $40,000. 93.15% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on CDW shares. Redburn Atlantic started coverage on shares of CDW in a research report on Friday, November 15th. They issued a "buy" rating and a $230.00 price target for the company. Citigroup lowered shares of CDW from a "buy" rating to a "neutral" rating and reduced their price objective for the stock from $250.00 to $245.00 in a research note on Tuesday, October 1st. Barclays reduced their price objective on shares of CDW from $229.00 to $201.00 and set an "equal weight" rating for the company in a research note on Thursday, October 31st. Finally, JPMorgan Chase & Co. lowered shares of 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. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $244.63.

CDW Stock Performance

NASDAQ CDW traded down $0.99 during mid-day trading on Tuesday, reaching $179.63. 1,264,011 shares of the stock were exchanged, compared to its average volume of 1,595,174. The business's 50 day moving average is $203.11 and its 200-day moving average is $216.22. CDW Co. has a 1 year low of $172.95 and a 1 year high of $263.37. The company has a market capitalization of $23.94 billion, a P/E ratio of 21.96, a P/E/G ratio of 5.08 and a beta of 1.02. 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 - Get Free Report) last posted its quarterly earnings data 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). The company 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 business's revenue for the quarter was down 2.0% on a year-over-year basis. During the same period in the previous year, the business earned $2.60 earnings per share. On average, equities research analysts forecast 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 will be paid on Tuesday, December 10th. Investors of record on Monday, November 25th will be given a dividend of $0.625 per share. This is a boost from CDW's previous quarterly dividend of $0.62. This represents a $2.50 annualized dividend and a yield of 1.39%. The ex-dividend date of this dividend is Monday, November 25th. CDW's dividend payout ratio (DPR) is presently 30.56%.

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.