Signature Estate & Investment Advisors LLC Decreases Stake in CDW Co. (NASDAQ:CDW)

Signature Estate & Investment Advisors LLC lowered its stake in shares of CDW Co. (NASDAQ:CDW - Free Report) by 35.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,391 shares of the information technology services provider's stock after selling 4,639 shares during the quarter. Signature Estate & Investment Advisors LLC's holdings in CDW were worth $1,899,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. CIBC Asset Management Inc increased its position in shares of CDW by 1.2% in the 3rd quarter. CIBC Asset Management Inc now owns 41,674 shares of the information technology services provider's stock valued at $9,431,000 after acquiring an additional 504 shares during the period. Impax Asset Management Group plc lifted its position in CDW by 6.0% during the 3rd quarter. Impax Asset Management Group plc now owns 33,653 shares of the information technology services provider's stock worth $7,616,000 after acquiring an additional 1,902 shares during the period. Tokio Marine Asset Management Co. Ltd. grew its stake in CDW by 2.5% during the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 3,827 shares of the information technology services provider's stock valued at $866,000 after purchasing an additional 92 shares during the last quarter. Metis Global Partners LLC increased its holdings in shares of CDW by 1.8% in the third quarter. Metis Global Partners LLC now owns 4,295 shares of the information technology services provider's stock valued at $972,000 after purchasing an additional 74 shares during the period. Finally, Zions Bancorporation N.A. raised its stake in shares of CDW by 21.8% in the third quarter. Zions Bancorporation N.A. now owns 4,113 shares of the information technology services provider's stock worth $931,000 after purchasing an additional 735 shares during the last quarter. 93.15% of the stock is owned by hedge funds and other institutional investors.

CDW Stock Performance

NASDAQ CDW traded down $3.14 during mid-day trading on Friday, reaching $177.63. 2,703,465 shares of the stock were exchanged, compared to its average volume of 881,102. The company has a market capitalization of $23.67 billion, a P/E ratio of 21.72, a P/E/G ratio of 5.19 and a beta of 1.05. The company has a debt-to-equity ratio of 2.39, a quick ratio of 1.28 and a current ratio of 1.40. The business's 50 day moving average is $213.49 and its 200-day moving average is $219.90. CDW Co. has a 1 year low of $175.94 and a 1 year 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 for the quarter, missing analysts' consensus estimates of $2.68 by ($0.05). CDW had a return on equity of 58.31% and a net margin of 5.33%. The firm had revenue of $5.52 billion during the quarter, compared to analyst estimates of $5.72 billion. During the same quarter last year, the company posted $2.60 EPS. The company's revenue was down 2.0% on a year-over-year basis. On average, equities research analysts forecast that CDW Co. will post 9.05 EPS for the current fiscal year.

CDW Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Monday, November 25th will be paid a dividend of $0.625 per share. This represents a $2.50 annualized dividend and a dividend yield of 1.41%. This is an increase from CDW's previous quarterly dividend of $0.62. The ex-dividend date is Monday, November 25th. CDW's dividend payout ratio is presently 30.32%.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on CDW. Barclays dropped their target price on CDW from $229.00 to $201.00 and set an "equal weight" rating on the stock in a research report on Thursday, October 31st. JPMorgan Chase & Co. downgraded shares of CDW from an "overweight" rating to a "neutral" rating and dropped their price objective for the company from $260.00 to $235.00 in a report on Monday, October 28th. Citigroup lowered shares of 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 research note on Tuesday, October 1st. Finally, Redburn Atlantic assumed coverage on shares of CDW in a research report on Friday. They set a "buy" rating and a $230.00 target price for the company. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $244.63.

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.