Fiera Capital Corp Sells 16,206 Shares of CDW Co. (NASDAQ:CDW)

Fiera Capital Corp reduced its position in CDW Co. (NASDAQ:CDW - Free Report) by 80.2% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,002 shares of the information technology services provider's stock after selling 16,206 shares during the quarter. Fiera Capital Corp's holdings in CDW were worth $906,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of CDW. RDA Financial Network lifted its holdings in CDW by 3.0% in the second quarter. RDA Financial Network now owns 1,587 shares of the information technology services provider's stock valued at $355,000 after acquiring an additional 46 shares during the period. PDS Planning Inc increased its stake in CDW by 4.3% in the third quarter. PDS Planning Inc now owns 1,186 shares of the information technology services provider's stock valued at $268,000 after purchasing an additional 49 shares during the last quarter. Oregon Public Employees Retirement Fund increased its stake in CDW by 0.5% in the second quarter. Oregon Public Employees Retirement Fund now owns 11,541 shares of the information technology services provider's stock valued at $2,583,000 after purchasing an additional 54 shares during the last quarter. Profund Advisors LLC increased its stake in CDW by 0.5% in the second quarter. Profund Advisors LLC now owns 12,469 shares of the information technology services provider's stock valued at $2,791,000 after purchasing an additional 58 shares during the last quarter. Finally, Elo Mutual Pension Insurance Co increased its stake in CDW by 0.5% during the second quarter. Elo Mutual Pension Insurance Co now owns 12,301 shares of the information technology services provider's stock worth $2,753,000 after acquiring an additional 61 shares during the last quarter. 93.15% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on CDW shares. JPMorgan Chase & Co. downgraded CDW from an "overweight" rating to a "neutral" rating and decreased their target price for the stock from $260.00 to $235.00 in a research report on Monday, October 28th. Stifel Nicolaus upped their target price on CDW from $250.00 to $260.00 and gave the stock a "buy" rating in a research report on Wednesday, July 17th. Citigroup downgraded CDW from a "buy" rating to a "neutral" rating and decreased their target price for the stock from $250.00 to $245.00 in a research report on Tuesday, October 1st. Finally, Barclays reduced their price target on CDW from $229.00 to $201.00 and set an "equal weight" rating for the company in a report on Thursday, October 31st. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, CDW presently has a consensus rating of "Hold" and an average price target of $246.71.

CDW Stock Performance

CDW traded down $1.93 during trading hours on Monday, hitting $197.94. The company's stock had a trading volume of 1,084,839 shares, compared to its average volume of 852,512. CDW Co. has a fifty-two week low of $187.73 and a fifty-two week high of $263.37. 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 firm has a market capitalization of $26.38 billion, a PE ratio of 24.19, a PEG ratio of 5.58 and a beta of 1.05. The company has a 50-day simple moving average of $216.50 and a 200 day simple moving average of $221.73.

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 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 analyst estimates of $5.72 billion. During the same quarter last year, the business posted $2.60 earnings per share. The firm's revenue for the quarter was down 2.0% compared to the same quarter last year. As a group, sell-side analysts expect that CDW Co. will post 9.05 EPS for the current year.

CDW Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Monday, November 25th will be paid a dividend of $0.625 per share. The ex-dividend date is Monday, November 25th. This is a positive change from CDW's previous quarterly dividend of $0.62. This represents a $2.50 annualized dividend and a dividend yield of 1.26%. CDW's dividend payout ratio (DPR) is currently 30.32%.

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.