Stifel Financial Corp Reduces Position in CDW Co. (NASDAQ:CDW)

Stifel Financial Corp reduced its position in CDW Co. (NASDAQ:CDW - Free Report) by 4.0% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 74,429 shares of the information technology services provider's stock after selling 3,137 shares during the period. Stifel Financial Corp owned about 0.06% of CDW worth $16,844,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Cetera Investment Advisers increased its stake in shares of CDW by 165.3% in the 1st quarter. Cetera Investment Advisers now owns 9,665 shares of the information technology services provider's stock worth $2,472,000 after purchasing an additional 6,022 shares in the last quarter. Cetera Advisors LLC increased its holdings in shares of CDW by 27.7% in the 1st quarter. Cetera Advisors LLC now owns 2,016 shares of the information technology services provider's stock worth $516,000 after buying an additional 437 shares during the last quarter. ORG Partners LLC purchased a new stake in CDW during the second quarter valued at approximately $34,000. Envestnet Portfolio Solutions Inc. lifted its position in CDW by 7.0% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 9,712 shares of the information technology services provider's stock worth $2,174,000 after buying an additional 632 shares during the last quarter. Finally, 180 Wealth Advisors LLC purchased a new position in shares of CDW during the 2nd quarter worth about $443,000. 93.15% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. Citigroup cut CDW from a "buy" rating to a "neutral" rating and dropped their price objective for the stock from $250.00 to $245.00 in a research note on Tuesday, October 1st. JPMorgan Chase & Co. cut CDW from an "overweight" rating to a "neutral" rating and lowered their target price for the stock from $260.00 to $235.00 in a report on Monday, October 28th. Barclays cut their price target on CDW from $229.00 to $201.00 and set an "equal weight" rating on the stock in a research note on Thursday, October 31st. Finally, Redburn Atlantic started coverage on shares of CDW in a research note on Friday, November 15th. They issued a "buy" rating and a $230.00 price objective for the company. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, CDW currently has an average rating of "Moderate Buy" and a consensus price target of $244.63.

CDW Stock Performance

Shares of NASDAQ:CDW traded down $3.45 on Tuesday, hitting $179.01. 1,423,444 shares of the company were exchanged, compared to its average volume of 919,562. 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 stock's 50 day moving average price is $199.44 and its 200 day moving average price is $214.76. CDW Co. has a 1-year low of $172.95 and a 1-year high of $263.37. The firm has a market capitalization of $23.85 billion, a P/E ratio of 21.78, a price-to-earnings-growth ratio of 5.06 and a beta of 1.02.

CDW (NASDAQ:CDW - Get Free Report) last announced its quarterly earnings data on Wednesday, October 30th. The information technology services provider reported $2.63 earnings per share (EPS) for the quarter, missing the consensus estimate 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 analysts' expectations of $5.72 billion. During the same quarter in the previous year, the business earned $2.60 earnings per share. The company's revenue for the quarter was down 2.0% compared to the same quarter last year. Sell-side analysts predict that CDW Co. will post 8.99 EPS for the current year.

CDW Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Monday, November 25th will be issued a dividend of $0.625 per share. The ex-dividend date of this dividend is Monday, November 25th. 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 1.40%. CDW's dividend payout ratio is 30.56%.

CDW 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.