Eastern Bank Sells 9,303 Shares of CDW Co. (NASDAQ:CDW)

Eastern Bank reduced its stake in shares of CDW Co. (NASDAQ:CDW - Free Report) by 93.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 621 shares of the information technology services provider's stock after selling 9,303 shares during the quarter. Eastern Bank's holdings in CDW were worth $108,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Quest Partners LLC purchased a new stake in shares of CDW during the 2nd quarter worth about $35,000. Federated Hermes Inc. increased its holdings in CDW by 88.2% in the second quarter. Federated Hermes Inc. now owns 1,137 shares of the information technology services provider's stock worth $255,000 after buying an additional 533 shares during the last quarter. Brown Brothers Harriman & Co. raised its position in CDW by 51.0% during the second quarter. Brown Brothers Harriman & Co. now owns 1,211 shares of the information technology services provider's stock valued at $271,000 after acquiring an additional 409 shares in the last quarter. Angeles Investment Advisors LLC acquired a new stake in CDW in the second quarter valued at approximately $225,000. Finally, Dimensional Fund Advisors LP grew its position in CDW by 11.0% in the second quarter. Dimensional Fund Advisors LP now owns 1,292,674 shares of the information technology services provider's stock worth $289,357,000 after acquiring an additional 128,263 shares in the last quarter. 93.15% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the stock. UBS Group cut their price target on shares of CDW from $233.00 to $220.00 and set a "buy" rating on the stock in a report on Tuesday, January 7th. Barclays reduced their price target on CDW from $229.00 to $201.00 and set an "equal weight" rating for the company in a research report on Thursday, October 31st. Citigroup lowered CDW from a "buy" rating to a "neutral" rating and lowered their price objective for the company from $250.00 to $245.00 in a report on Tuesday, October 1st. Morgan Stanley boosted their target price on CDW from $190.00 to $193.00 and gave the stock an "equal weight" rating in a report on Monday, December 16th. Finally, JPMorgan Chase & Co. downgraded 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 report on Monday, October 28th. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $239.33.

CDW Stock Performance

NASDAQ:CDW traded up $0.90 during mid-day trading on Wednesday, hitting $187.46. 2,214,142 shares of the company's stock traded hands, compared to its average volume of 1,519,038. The firm has a market capitalization of $24.98 billion, a price-to-earnings ratio of 22.92, a price-to-earnings-growth ratio of 5.01 and a beta of 1.01. The firm has a 50 day moving average of $179.96 and a two-hundred day moving average of $205.83. The company has a current ratio of 1.40, a quick ratio of 1.28 and a debt-to-equity ratio of 2.39. CDW Co. has a 12 month low of $168.43 and a 12 month high of $263.37.

CDW (NASDAQ:CDW - Get Free Report) last announced its quarterly earnings data 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 return on equity of 58.31% and a net margin of 5.33%. The company had revenue of $5.52 billion during the quarter, compared to analyst estimates of $5.72 billion. During the same quarter in the previous year, the business posted $2.60 EPS. The company's revenue was down 2.0% on a year-over-year basis. On average, equities analysts forecast that CDW Co. will post 8.99 earnings per share for the current fiscal year.

CDW Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Monday, November 25th were given a $0.625 dividend. This represents a $2.50 annualized dividend and a yield of 1.33%. This is a positive change from CDW's previous quarterly dividend of $0.62. The ex-dividend date was Monday, November 25th. CDW's dividend payout ratio (DPR) is currently 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.