HighTower Advisors LLC Decreases Holdings in CDW Co. (NASDAQ:CDW)

HighTower Advisors LLC trimmed its stake in CDW Co. (NASDAQ:CDW - Free Report) by 67.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 29,264 shares of the information technology services provider's stock after selling 60,151 shares during the quarter. HighTower Advisors LLC's holdings in CDW were worth $6,609,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund purchased a new position in shares of CDW during the third quarter valued at approximately $12,761,000. Raymond James & Associates increased its position in CDW by 16.6% during the second quarter. Raymond James & Associates now owns 139,711 shares of the information technology services provider's stock valued at $31,273,000 after acquiring an additional 19,867 shares during the last quarter. Thrivent Financial for Lutherans lifted its holdings in CDW by 12.8% in the third quarter. Thrivent Financial for Lutherans now owns 599,900 shares of the information technology services provider's stock valued at $135,758,000 after acquiring an additional 68,023 shares during the period. Exchange Traded Concepts LLC boosted its position in CDW by 50.7% in the third quarter. Exchange Traded Concepts LLC now owns 2,398 shares of the information technology services provider's stock worth $543,000 after purchasing an additional 807 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of CDW by 10.1% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 27,728 shares of the information technology services provider's stock worth $6,207,000 after purchasing an additional 2,533 shares during the period. 93.15% of the stock is currently owned by institutional investors.

CDW Price Performance

NASDAQ CDW traded down $3.45 during trading hours on Tuesday, reaching $179.01. The company's stock had a trading volume of 1,448,499 shares, compared to its average volume of 920,525. 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 $172.95 and a 1 year high of $263.37. The firm's 50-day moving average price is $198.66 and its 200-day moving average price is $214.40. The company has a market capitalization of $23.85 billion, a price-to-earnings ratio of 21.88, a PEG ratio of 5.06 and a beta of 1.02.

CDW (NASDAQ:CDW - Get Free Report) last released its 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 company had revenue of $5.52 billion during the quarter, compared to analysts' expectations of $5.72 billion. CDW had a return on equity of 58.31% and a net margin of 5.33%. CDW's quarterly revenue was down 2.0% compared to the same quarter last year. During the same period last year, the firm posted $2.60 EPS. On average, equities research analysts predict that CDW Co. will post 8.99 EPS for the current fiscal year.

CDW Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Monday, November 25th will be given a dividend of $0.625 per share. This is a positive change from CDW's previous quarterly dividend of $0.62. The ex-dividend date is Monday, November 25th. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.40%. CDW's dividend payout ratio (DPR) is presently 30.56%.

Analysts Set New Price Targets

Several research firms have weighed in on CDW. Citigroup downgraded shares of CDW from a "buy" rating to a "neutral" rating and decreased their price target for the stock from $250.00 to $245.00 in a research report on Tuesday, October 1st. Redburn Atlantic started coverage on CDW in a research report on Friday, November 15th. They set a "buy" rating and a $230.00 target price on the stock. Barclays lowered their price objective on CDW from $229.00 to $201.00 and set an "equal weight" rating on the stock in a research report on Thursday, October 31st. Finally, JPMorgan Chase & Co. lowered shares of CDW from an "overweight" rating to a "neutral" rating and reduced their target price for the stock from $260.00 to $235.00 in a report on Monday, October 28th. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $244.63.

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.