City Holding Co. Has $868,000 Stock Holdings in CDW Co. (NASDAQ:CDW)

City Holding Co. decreased its holdings in CDW Co. (NASDAQ:CDW - Free Report) by 24.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,989 shares of the information technology services provider's stock after selling 1,580 shares during the period. City Holding Co.'s holdings in CDW were worth $868,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. Romano Brothers AND Company raised its stake in shares of CDW by 192.6% during the 4th quarter. Romano Brothers AND Company now owns 6,502 shares of the information technology services provider's stock worth $1,132,000 after purchasing an additional 4,280 shares in the last quarter. Canoe Financial LP raised its position in CDW by 68.3% during the fourth quarter. Canoe Financial LP now owns 276 shares of the information technology services provider's stock valued at $48,000 after acquiring an additional 112 shares in the last quarter. Merit Financial Group LLC lifted its stake in CDW by 35.6% in the fourth quarter. Merit Financial Group LLC now owns 4,093 shares of the information technology services provider's stock valued at $712,000 after acquiring an additional 1,075 shares during the last quarter. Avanza Fonder AB bought a new stake in CDW in the fourth quarter worth approximately $1,722,000. Finally, RDA Financial Network increased its stake in shares of CDW by 37.8% during the 4th quarter. RDA Financial Network now owns 2,256 shares of the information technology services provider's stock worth $393,000 after purchasing an additional 619 shares during the last quarter. 93.15% of the stock is owned by hedge funds and other institutional investors.

CDW Stock Performance

Shares of NASDAQ:CDW traded up $2.86 on Tuesday, hitting $191.59. 910,248 shares of the company were exchanged, compared to its average volume of 1,374,736. The company has a debt-to-equity ratio of 2.39, a quick ratio of 1.28 and a current ratio of 1.40. The company's 50 day moving average price is $178.94 and its two-hundred day moving average price is $204.80. CDW Co. has a one year low of $168.43 and a one year high of $263.37. The firm has a market capitalization of $25.53 billion, a price-to-earnings ratio of 23.42, a PEG ratio of 5.11 and a beta of 1.01.

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

CDW Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Monday, November 25th were paid a $0.625 dividend. This is a boost from CDW's previous quarterly dividend of $0.62. The ex-dividend date was Monday, November 25th. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.30%. CDW's dividend payout ratio is currently 30.56%.

Analyst Upgrades and Downgrades

CDW has been the subject of a number of recent research reports. Morgan Stanley upped their price objective on shares of CDW from $190.00 to $193.00 and gave the stock an "equal weight" rating in a report on Monday, December 16th. JPMorgan Chase & Co. downgraded CDW from an "overweight" rating to a "neutral" rating and cut their price objective for the company from $260.00 to $235.00 in a research note on Monday, October 28th. UBS Group lowered their price target on CDW from $233.00 to $220.00 and set a "buy" rating on the stock in a report on Tuesday, January 7th. Citigroup cut 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. Finally, Redburn Atlantic initiated coverage on shares of CDW in a report on Friday, November 15th. They issued a "buy" rating and a $230.00 target price on the stock. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $239.33.

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.