Moran Wealth Management LLC Decreases Stock Position in CDW Co. (NASDAQ:CDW)

Moran Wealth Management LLC decreased its stake in shares of CDW Co. (NASDAQ:CDW - Free Report) by 63.3% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 28,342 shares of the information technology services provider's stock after selling 48,801 shares during the quarter. Moran Wealth Management LLC's holdings in CDW were worth $6,414,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. ORG Partners LLC acquired a new position in shares of CDW during the 2nd quarter worth about $34,000. Quest Partners LLC purchased a new stake in CDW during the 2nd quarter valued at approximately $35,000. Canoe Financial LP acquired a new position in CDW during the 3rd quarter worth approximately $37,000. Fortitude Family Office LLC increased its position in CDW by 350.0% during the 3rd quarter. Fortitude Family Office LLC now owns 171 shares of the information technology services provider's stock worth $39,000 after purchasing an additional 133 shares during the period. Finally, Summit Securities Group LLC acquired a new stake in shares of CDW in the 2nd quarter worth approximately $40,000. Hedge funds and other institutional investors own 93.15% of the company's stock.

CDW Trading Up 1.1 %

Shares of CDW opened at $175.99 on Thursday. The company has a current ratio of 1.40, a quick ratio of 1.28 and a debt-to-equity ratio of 2.39. The firm has a market capitalization of $23.45 billion, a P/E ratio of 21.51, a price-to-earnings-growth ratio of 4.96 and a beta of 1.05. The stock's fifty day simple moving average is $211.13 and its 200 day simple moving average is $219.03. CDW Co. has a twelve month low of $172.95 and a twelve month 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 earnings per share 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 analysts' expectations of $5.72 billion. CDW had a return on equity of 58.31% and a net margin of 5.33%. The company's quarterly revenue was down 2.0% compared to the same quarter last year. During the same period last year, the business posted $2.60 earnings per share. On average, equities research analysts forecast that CDW Co. will post 9.05 earnings per share for the current year.

CDW Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Monday, November 25th will be given a $0.625 dividend. This is a positive change from CDW's previous quarterly dividend of $0.62. This represents a $2.50 annualized dividend and a dividend yield of 1.42%. The ex-dividend date of this dividend is Monday, November 25th. CDW's dividend payout ratio (DPR) is 30.56%.

Analyst Upgrades and Downgrades

CDW has been the topic of a number of analyst reports. JPMorgan Chase & Co. cut CDW from an "overweight" rating to a "neutral" rating and lowered their target price for the company from $260.00 to $235.00 in a report on Monday, October 28th. Barclays lowered their target price on CDW from $229.00 to $201.00 and set an "equal weight" rating on the stock in a report on Thursday, October 31st. Citigroup cut CDW from a "buy" rating to a "neutral" rating and lowered their target price for the company from $250.00 to $245.00 in a report on Tuesday, October 1st. Finally, Redburn Atlantic started coverage on CDW in a research note on Friday, November 15th. They set a "buy" rating and a $230.00 price target on the stock. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, CDW presently 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.

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