CDW Co. (NASDAQ:CDW) Shares Sold by US Bancorp DE

US Bancorp DE lowered its position in CDW Co. (NASDAQ:CDW - Free Report) by 32.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 31,096 shares of the information technology services provider's stock after selling 15,076 shares during the quarter. US Bancorp DE's holdings in CDW were worth $7,037,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. ORG Partners LLC bought a new stake in CDW during the 2nd quarter valued at about $34,000. Quest Partners LLC bought a new stake in CDW during the 2nd quarter valued at about $35,000. Canoe Financial LP bought a new stake in CDW during the 3rd quarter valued at about $37,000. Fortitude Family Office LLC lifted its holdings 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 valued at $39,000 after buying an additional 133 shares in the last quarter. Finally, Summit Securities Group LLC bought a new stake in CDW during the 2nd quarter valued at about $40,000. Institutional investors own 93.15% of the company's stock.

CDW Stock Performance

NASDAQ:CDW traded up $2.72 during trading hours on Monday, hitting $191.10. 1,185,475 shares of the company were exchanged, compared to its average volume of 843,128. The stock has a market capitalization of $25.47 billion, a price-to-earnings ratio of 23.36, a PEG ratio of 2.86 and a beta of 1.06. CDW Co. has a 52-week low of $187.73 and a 52-week high of $263.37. The company has a debt-to-equity ratio of 2.39, a current ratio of 1.40 and a quick ratio of 1.02. The company's 50 day moving average price is $219.30 and its 200-day moving average price is $223.14.

CDW (NASDAQ:CDW - Get Free Report) last announced its quarterly earnings data 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 net margin of 5.33% and a return on equity of 58.31%. The business had revenue of $5.52 billion for the quarter, compared to analyst estimates of $5.72 billion. During the same quarter in the previous year, the firm posted $2.60 earnings per share. The business's revenue was down 2.0% on a year-over-year basis. As a group, research analysts forecast that CDW Co. will post 9.38 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 paid a $0.625 dividend. This is a boost from CDW's previous quarterly dividend of $0.62. This represents a $2.50 annualized dividend and a dividend yield of 1.31%. The ex-dividend date of this dividend is Monday, November 25th. CDW's payout ratio is currently 30.56%.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. Barclays cut their target price on shares of CDW from $229.00 to $201.00 and set an "equal weight" rating on the stock in a research report on Thursday. Stifel Nicolaus raised their target price on shares of CDW from $250.00 to $260.00 and gave the company a "buy" rating in a research report on Wednesday, July 17th. JPMorgan Chase & Co. downgraded shares of CDW from an "overweight" rating to a "neutral" rating and cut their target price for the company from $260.00 to $235.00 in a research report on Monday, October 28th. Finally, Citigroup downgraded shares of CDW from a "buy" rating to a "neutral" rating and cut their target price for the company from $250.00 to $245.00 in a research report on Tuesday, October 1st. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, CDW has a consensus rating of "Hold" and a consensus price target of $246.71.

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.