Sanibel Captiva Trust Company Inc. Sells 1,832 Shares of CDW Co. (NASDAQ:CDW)

Sanibel Captiva Trust Company Inc. reduced its stake in shares of CDW Co. (NASDAQ:CDW - Free Report) by 29.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,419 shares of the information technology services provider's stock after selling 1,832 shares during the quarter. Sanibel Captiva Trust Company Inc.'s holdings in CDW were worth $769,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. PDS Planning Inc increased its stake in CDW by 4.3% in the 3rd quarter. PDS Planning Inc now owns 1,186 shares of the information technology services provider's stock worth $268,000 after purchasing an additional 49 shares during the period. Profund Advisors LLC grew its holdings in shares of CDW by 0.5% in the second quarter. Profund Advisors LLC now owns 12,469 shares of the information technology services provider's stock worth $2,791,000 after purchasing an additional 58 shares during the last quarter. OneAscent Wealth Management LLC increased its stake in shares of CDW by 2.5% in the third quarter. OneAscent Wealth Management LLC now owns 2,387 shares of the information technology services provider's stock worth $540,000 after buying an additional 58 shares during the period. Fulcrum Equity Management raised its holdings in CDW by 4.3% during the 3rd quarter. Fulcrum Equity Management now owns 1,442 shares of the information technology services provider's stock valued at $326,000 after buying an additional 60 shares during the last quarter. Finally, WCM Investment Management LLC grew its holdings in CDW by 4.6% in the 3rd quarter. WCM Investment Management LLC now owns 1,380 shares of the information technology services provider's stock worth $313,000 after acquiring an additional 61 shares during the last quarter. Hedge funds and other institutional investors own 93.15% of the company's stock.

Analyst Upgrades and Downgrades

CDW has been the subject of several recent analyst reports. JPMorgan Chase & Co. downgraded shares of CDW from an "overweight" rating to a "neutral" rating and lowered their price objective for the company from $260.00 to $235.00 in a research note on Monday, October 28th. Citigroup cut CDW from a "buy" rating to a "neutral" rating and dropped their price objective for the stock from $250.00 to $245.00 in a report on Tuesday, October 1st. UBS Group cut their price objective on CDW from $233.00 to $220.00 and set a "buy" rating on the stock in a research report on Tuesday, January 7th. Redburn Atlantic began coverage on CDW in a report on Friday, November 15th. They set a "buy" rating and a $230.00 target price for the company. Finally, Barclays cut their price target 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. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $239.33.

CDW Stock Up 0.5 %

CDW stock traded up $0.91 on Friday, hitting $188.70. 963,441 shares of the stock traded hands, compared to its average volume of 1,002,276. CDW Co. has a 1 year low of $168.43 and a 1 year high of $263.37. The firm has a market cap of $25.15 billion, a P/E ratio of 23.07, a price-to-earnings-growth ratio of 4.91 and a beta of 1.01. The company has a current ratio of 1.40, a quick ratio of 1.28 and a debt-to-equity ratio of 2.39. The business's fifty day simple moving average is $179.13 and its 200 day simple moving average is $205.27.

CDW (NASDAQ:CDW - Get Free Report) last issued its quarterly earnings results on Wednesday, October 30th. The information technology services provider reported $2.63 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.68 by ($0.05). CDW had a net margin of 5.33% and a return on equity of 58.31%. The business had revenue of $5.52 billion for the quarter, compared to analysts' expectations of $5.72 billion. During the same period last year, the business earned $2.60 earnings per share. The company's revenue was down 2.0% on a year-over-year basis. As a group, sell-side analysts forecast that CDW Co. will post 8.99 earnings per share for the current year.

CDW Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Monday, November 25th were paid a $0.625 dividend. The ex-dividend date was Monday, November 25th. 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. CDW's dividend payout ratio 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.