River Global Investors LLP Sells 2,520 Shares of CDW Co. (NASDAQ:CDW)

River Global Investors LLP cut its stake in shares of CDW Co. (NASDAQ:CDW - Free Report) by 19.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 10,455 shares of the information technology services provider's stock after selling 2,520 shares during the quarter. River Global Investors LLP's holdings in CDW were worth $2,366,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of CDW. Vanguard Group Inc. raised its stake in shares of CDW by 4.6% during the first quarter. Vanguard Group Inc. now owns 16,407,542 shares of the information technology services provider's stock worth $4,196,721,000 after acquiring an additional 714,393 shares in the last quarter. Perpetual Ltd purchased a new position in shares of CDW during the third quarter worth approximately $158,300,000. Lazard Asset Management LLC raised its stake in shares of CDW by 225.9% during the first quarter. Lazard Asset Management LLC now owns 881,586 shares of the information technology services provider's stock worth $225,491,000 after acquiring an additional 611,054 shares in the last quarter. Ceredex Value Advisors LLC purchased a new position in shares of CDW during the second quarter worth approximately $79,549,000. Finally, Canada Pension Plan Investment Board raised its stake in shares of CDW by 2,045.4% during the second quarter. Canada Pension Plan Investment Board now owns 294,302 shares of the information technology services provider's stock worth $65,877,000 after acquiring an additional 280,584 shares in the last quarter. 93.15% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have commented on CDW shares. JPMorgan Chase & Co. downgraded shares of CDW from an "overweight" rating to a "neutral" rating and decreased their price target for the stock from $260.00 to $235.00 in a research note on Monday, October 28th. Barclays decreased 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 note on Thursday, October 31st. Stifel Nicolaus lifted their target price on shares of CDW from $250.00 to $260.00 and gave the stock a "buy" rating in a research note on Wednesday, July 17th. Finally, Citigroup downgraded shares of CDW from a "buy" rating to a "neutral" rating and decreased their target price for the stock from $250.00 to $245.00 in a research note on Tuesday, October 1st. Four 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 an average rating of "Hold" and a consensus price target of $246.71.

CDW Trading Down 1.5 %

CDW stock traded down $3.03 during mid-day trading on Friday, reaching $199.87. 936,038 shares of the company traded hands, compared to its average volume of 1,199,236. The company has a debt-to-equity ratio of 2.39, a current ratio of 1.40 and a quick ratio of 1.28. The firm's 50 day moving average price is $216.50 and its 200 day moving average price is $221.73. The firm has a market capitalization of $26.63 billion, a price-to-earnings ratio of 24.43, a P/E/G ratio of 5.66 and a beta of 1.05. CDW Co. has a 52-week low of $187.73 and a 52-week high of $263.37.

CDW (NASDAQ:CDW - Get Free Report) last issued 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 company had revenue of $5.52 billion for the quarter, compared to analysts' expectations 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 previous year, the firm posted $2.60 earnings per share. On average, analysts anticipate that CDW Co. will post 9.05 earnings per share for the current fiscal year.

CDW Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Monday, November 25th will be given a dividend of $0.625 per share. This is an increase from CDW's previous quarterly dividend of $0.62. This represents a $2.50 dividend on an annualized basis and a yield of 1.25%. The ex-dividend date is Monday, November 25th. CDW's payout ratio is presently 30.32%.

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.