Gateway Investment Advisers LLC Lowers Stock Holdings in CDW Co. (NASDAQ:CDW)

Gateway Investment Advisers LLC trimmed its stake in CDW Co. (NASDAQ:CDW - Free Report) by 2.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 120,688 shares of the information technology services provider's stock after selling 3,105 shares during the period. Gateway Investment Advisers LLC owned approximately 0.09% of CDW worth $21,005,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Oddo BHF Asset Management Sas purchased a new position in shares of CDW in the 3rd quarter worth about $1,629,000. Franklin Resources Inc. lifted its stake in CDW by 3.4% in the third quarter. Franklin Resources Inc. now owns 108,009 shares of the information technology services provider's stock worth $24,138,000 after purchasing an additional 3,567 shares during the last quarter. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund purchased a new stake in CDW during the third quarter valued at about $12,761,000. Czech National Bank grew its stake in shares of CDW by 6.2% during the fourth quarter. Czech National Bank now owns 28,895 shares of the information technology services provider's stock valued at $5,029,000 after buying an additional 1,685 shares during the last quarter. Finally, Diversified Trust Co purchased a new position in shares of CDW in the fourth quarter worth about $1,529,000. 93.15% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on CDW shares. Citigroup cut CDW from a "buy" rating to a "neutral" rating and dropped their target price for the company from $250.00 to $245.00 in a report on Tuesday, October 1st. Redburn Atlantic started coverage on CDW in a research note on Friday, November 15th. They set a "buy" rating and a $230.00 price objective for the company. Barclays decreased their target price on shares of CDW from $229.00 to $201.00 and set an "equal weight" rating on the stock in a research note on Thursday, October 31st. Morgan Stanley increased their price target on shares of CDW from $190.00 to $193.00 and gave the company an "equal weight" rating in a research report on Monday, December 16th. Finally, JPMorgan Chase & Co. lowered shares of 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. Four analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat, CDW has an average rating of "Moderate Buy" and a consensus target price of $239.33.

CDW Trading Up 0.5 %

Shares of NASDAQ:CDW traded up $0.91 on Friday, hitting $188.70. The company had a trading volume of 963,440 shares, compared to its average volume of 1,416,967. The firm's 50-day simple moving average is $179.35 and its two-hundred day simple moving average is $205.58. The firm has a market capitalization of $25.15 billion, a price-to-earnings ratio of 23.07, a P/E/G ratio of 4.91 and a beta of 1.01. The company has a quick ratio of 1.28, a current ratio of 1.40 and a debt-to-equity ratio of 2.39. CDW Co. has a 1 year low of $168.43 and a 1 year high of $263.37.

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 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 for the quarter, compared to the consensus estimate of $5.72 billion. During the same period in the previous year, the firm posted $2.60 earnings per share. The business's revenue was down 2.0% compared to the same quarter last year. Equities analysts anticipate that CDW Co. will post 8.99 earnings per share for the current fiscal year.

CDW Increases Dividend

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

CDW Company 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.