Argent Capital Management LLC Trims Stake in CDW Co. (NASDAQ:CDW)

Argent Capital Management LLC lowered its holdings in CDW Co. (NASDAQ:CDW - Free Report) by 88.8% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 3,683 shares of the information technology services provider's stock after selling 29,336 shares during the quarter. Argent Capital Management LLC's holdings in CDW were worth $641,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in CDW. Quest Partners LLC bought a new stake in shares of CDW during the 2nd quarter valued at about $35,000. Federated Hermes Inc. boosted its position in CDW by 88.2% during the 2nd quarter. Federated Hermes Inc. now owns 1,137 shares of the information technology services provider's stock valued at $255,000 after acquiring an additional 533 shares in the last quarter. Brown Brothers Harriman & Co. grew its holdings in shares of CDW by 51.0% during the 2nd quarter. Brown Brothers Harriman & Co. now owns 1,211 shares of the information technology services provider's stock worth $271,000 after acquiring an additional 409 shares during the period. E Fund Management Co. Ltd. raised its position in shares of CDW by 20.2% in the 2nd quarter. E Fund Management Co. Ltd. now owns 2,703 shares of the information technology services provider's stock worth $605,000 after acquiring an additional 454 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV lifted its stake in shares of CDW by 5.5% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 51,993 shares of the information technology services provider's stock valued at $11,626,000 after purchasing an additional 2,706 shares during the period. 93.15% of the stock is currently owned by institutional investors.

CDW Stock Performance

Shares of CDW stock traded up $0.91 during trading on Friday, hitting $188.70. 963,036 shares of the company's stock traded hands, compared to its average volume of 1,385,499. CDW Co. has a 1 year low of $168.43 and a 1 year high of $263.37. The business has a 50-day simple moving average of $179.35 and a 200-day simple moving average of $205.58. The stock has a market capitalization of $25.15 billion, a P/E ratio of 23.07, a PEG ratio of 4.91 and a beta of 1.01. The company has a debt-to-equity ratio of 2.39, a current ratio of 1.40 and a quick ratio of 1.28.

CDW (NASDAQ:CDW - Get Free Report) last announced its earnings results 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). 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%. CDW's quarterly revenue was down 2.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.60 earnings per share. As a group, analysts forecast that CDW Co. will post 8.99 EPS for the current year.

CDW Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Monday, November 25th were paid a dividend of $0.625 per share. This is an increase from CDW's previous quarterly dividend of $0.62. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.32%. The ex-dividend date of this dividend was Monday, November 25th. CDW's payout ratio is currently 30.56%.

Analysts Set New Price Targets

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