CDW Co. (NASDAQ:CDW) Stock Holdings Trimmed by MML Investors Services LLC

MML Investors Services LLC reduced its stake in CDW Co. (NASDAQ:CDW - Free Report) by 40.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,542 shares of the information technology services provider's stock after selling 5,088 shares during the quarter. MML Investors Services LLC's holdings in CDW were worth $1,707,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Quest Partners LLC acquired a new position in CDW in the second quarter valued at $35,000. Canoe Financial LP acquired a new position in CDW in the third quarter valued at $37,000. Fortitude Family Office LLC increased its stake in CDW by 350.0% in the third quarter. Fortitude Family Office LLC now owns 171 shares of the information technology services provider's stock valued at $39,000 after purchasing an additional 133 shares during the last quarter. Summit Securities Group LLC acquired a new position in CDW in the second quarter valued at $40,000. Finally, Ashton Thomas Securities LLC acquired a new position in CDW in the third quarter valued at $43,000. 93.15% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on CDW shares. JPMorgan Chase & Co. lowered CDW from an "overweight" rating to a "neutral" rating and dropped their target price for the company from $260.00 to $235.00 in a research note on Monday, October 28th. Citigroup downgraded CDW from a "buy" rating to a "neutral" rating and cut their price objective for the stock from $250.00 to $245.00 in a report on Tuesday, October 1st. Morgan Stanley raised their price objective on CDW from $190.00 to $193.00 and gave the stock an "equal weight" rating in a report on Monday. Barclays cut their price objective on CDW from $229.00 to $201.00 and set an "equal weight" rating on the stock in a report on Thursday, October 31st. Finally, Redburn Atlantic assumed coverage on CDW in a report on Friday, November 15th. They issued a "buy" rating and a $230.00 price objective on the stock. Four 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, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $241.75.

CDW Stock Performance

Shares of CDW traded down $5.17 during mid-day trading on Wednesday, hitting $171.49. The stock had a trading volume of 1,282,539 shares, compared to its average volume of 929,385. The company has a market cap of $22.85 billion, a PE ratio of 20.96, a PEG ratio of 5.01 and a beta of 1.02. The company's fifty day simple moving average is $194.33 and its two-hundred day simple moving average is $212.73. 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 fifty-two week low of $170.68 and a fifty-two week high of $263.37.

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). The firm had revenue of $5.52 billion during the quarter, compared to analyst estimates of $5.72 billion. CDW had a return on equity of 58.31% and a net margin of 5.33%. CDW's revenue was down 2.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.60 EPS. On average, equities analysts expect that CDW Co. will post 8.99 earnings per share for the current year.

CDW Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Monday, November 25th were issued a $0.625 dividend. This is an increase from CDW's previous quarterly dividend of $0.62. The ex-dividend date was Monday, November 25th. This represents a $2.50 annualized dividend and a dividend yield of 1.46%. CDW's dividend payout ratio (DPR) is 30.56%.

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.