CDW Co. (NASDAQ:CDW) Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. decreased its stake in CDW Co. (NASDAQ:CDW - Free Report) by 44.4% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 866,309 shares of the information technology services provider's stock after selling 692,460 shares during the period. JPMorgan Chase & Co. owned 0.65% of CDW worth $196,046,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Rothschild Investment LLC acquired a new stake in shares of CDW during the second quarter worth about $148,000. Commonwealth Equity Services LLC increased its position in CDW by 4.9% during the second quarter. Commonwealth Equity Services LLC now owns 8,118 shares of the information technology services provider's stock worth $1,817,000 after buying an additional 377 shares during the period. Banque Cantonale Vaudoise purchased a new stake in CDW in the second quarter valued at approximately $251,000. Van ECK Associates Corp purchased a new position in shares of CDW during the second quarter worth approximately $4,964,000. Finally, Graypoint LLC increased its holdings in shares of CDW by 6.1% in the 2nd quarter. Graypoint LLC now owns 1,758 shares of the information technology services provider's stock valued at $394,000 after acquiring an additional 101 shares during the period. 93.15% of the stock is owned by hedge funds and other institutional investors.

CDW Price Performance

Shares of CDW traded up $0.69 during mid-day trading on Tuesday, hitting $174.04. The company's stock had a trading volume of 711,708 shares, compared to its average volume of 932,286. The firm has a 50-day simple moving average of $185.09 and a 200 day simple moving average of $209.29. CDW Co. has a 1-year low of $170.68 and a 1-year high of $263.37. The firm has a market capitalization of $23.19 billion, a P/E ratio of 21.28, a P/E/G ratio of 5.01 and a beta of 1.02. 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 (NASDAQ:CDW - Get Free Report) last issued 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). CDW had a return on equity of 58.31% and a net margin of 5.33%. The company had revenue of $5.52 billion for the quarter, compared to analysts' expectations of $5.72 billion. During the same quarter in the previous year, the firm posted $2.60 earnings per share. CDW's revenue for the quarter was down 2.0% on a year-over-year basis. 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 was paid on Tuesday, December 10th. Investors of record on Monday, November 25th were paid a $0.625 dividend. This is an increase from CDW's previous quarterly dividend of $0.62. This represents a $2.50 annualized dividend and a yield of 1.44%. The ex-dividend date was Monday, November 25th. CDW's dividend payout ratio (DPR) is presently 30.56%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on CDW shares. Citigroup cut 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 note on Tuesday, October 1st. JPMorgan Chase & Co. lowered CDW from an "overweight" rating to a "neutral" rating and lowered their price target for the stock from $260.00 to $235.00 in a report on Monday, October 28th. Barclays reduced their price objective on CDW from $229.00 to $201.00 and set an "equal weight" rating for the company in a research note on Thursday, October 31st. Morgan Stanley lifted their target price on CDW from $190.00 to $193.00 and gave the company an "equal weight" rating in a research note on Monday, December 16th. Finally, Redburn Atlantic began coverage on CDW in a report on Friday, November 15th. They set a "buy" rating and a $230.00 price target for the company. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $241.75.

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.