ING Groep NV Sells 34,283 Shares of CDW Co. (NASDAQ:CDW)

ING Groep NV cut its holdings in shares of CDW Co. (NASDAQ:CDW - Free Report) by 55.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,190 shares of the information technology services provider's stock after selling 34,283 shares during the quarter. ING Groep NV's holdings in CDW were worth $6,153,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the company. RDA Financial Network boosted its holdings in shares of CDW by 3.0% during the 2nd quarter. RDA Financial Network now owns 1,587 shares of the information technology services provider's stock worth $355,000 after buying an additional 46 shares during the period. PDS Planning Inc boosted its holdings in shares of CDW by 4.3% during the 3rd quarter. PDS Planning Inc now owns 1,186 shares of the information technology services provider's stock worth $268,000 after buying an additional 49 shares during the period. Oregon Public Employees Retirement Fund boosted its holdings in shares of CDW by 0.5% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 11,541 shares of the information technology services provider's stock worth $2,583,000 after buying an additional 54 shares during the period. Profund Advisors LLC boosted its holdings in shares of CDW by 0.5% during the 2nd quarter. Profund Advisors LLC now owns 12,469 shares of the information technology services provider's stock worth $2,791,000 after buying an additional 58 shares during the period. Finally, Elo Mutual Pension Insurance Co boosted its holdings in shares of CDW by 0.5% during the 2nd quarter. Elo Mutual Pension Insurance Co now owns 12,301 shares of the information technology services provider's stock worth $2,753,000 after buying an additional 61 shares during the period. 93.15% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. Redburn Atlantic assumed coverage on shares of CDW in a research note on Friday. They issued a "buy" rating and a $230.00 price objective for the company. JPMorgan Chase & Co. cut shares of CDW from an "overweight" rating to a "neutral" rating and dropped their price objective for the stock from $260.00 to $235.00 in a research note on Monday, October 28th. Citigroup cut shares of CDW from a "buy" rating to a "neutral" rating and dropped their price objective for the stock from $250.00 to $245.00 in a research note on Tuesday, October 1st. Finally, Barclays dropped their price objective on shares of CDW from $229.00 to $201.00 and set an "equal weight" rating for the company in a research note on Thursday, October 31st. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $244.63.

CDW Trading Down 1.7 %

Shares of NASDAQ CDW traded down $3.14 during trading on Friday, reaching $177.63. The company had a trading volume of 2,703,465 shares, compared to its average volume of 881,102. The company's fifty day moving average price is $213.49 and its 200-day moving average price is $220.05. CDW Co. has a 12 month low of $175.94 and a 12 month high of $263.37. The stock has a market cap of $23.67 billion, a P/E ratio of 21.72, a PEG ratio of 5.19 and a beta of 1.05. 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 (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 analysts' consensus estimates of $2.68 by ($0.05). The business 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 firm's revenue for the quarter was down 2.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.60 earnings per share. As a group, research analysts expect that CDW Co. will post 9.05 earnings per share 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 given a dividend of $0.625 per share. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.41%. The ex-dividend date is Monday, November 25th. This is a boost from CDW's previous quarterly dividend of $0.62. CDW's dividend payout ratio is 30.32%.

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.