UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 58,739 Shares of CDW Co. (NASDAQ:CDW)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lessened its stake in CDW Co. (NASDAQ:CDW - Free Report) by 6.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 813,480 shares of the information technology services provider's stock after selling 58,739 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.61% of CDW worth $184,091,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Peak Financial Advisors LLC bought a new position in shares of CDW in the second quarter worth $2,854,000. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund bought a new position in shares of CDW in the third quarter worth $12,761,000. Raymond James & Associates increased its holdings in shares of CDW by 16.6% in the second quarter. Raymond James & Associates now owns 139,711 shares of the information technology services provider's stock worth $31,273,000 after purchasing an additional 19,867 shares during the period. Thrivent Financial for Lutherans increased its holdings in shares of CDW by 12.8% in the third quarter. Thrivent Financial for Lutherans now owns 599,900 shares of the information technology services provider's stock worth $135,758,000 after purchasing an additional 68,023 shares during the period. Finally, Exchange Traded Concepts LLC grew its position in CDW by 50.7% in the third quarter. Exchange Traded Concepts LLC now owns 2,398 shares of the information technology services provider's stock worth $543,000 after acquiring an additional 807 shares in the last quarter. Institutional investors own 93.15% of the company's stock.

Analyst Ratings Changes

Several brokerages recently issued reports on CDW. Citigroup lowered shares of CDW from a "buy" rating to a "neutral" rating and cut their target price for the stock from $250.00 to $245.00 in a research report on Tuesday, October 1st. JPMorgan Chase & Co. lowered shares of CDW from an "overweight" rating to a "neutral" rating and cut their target price for the stock from $260.00 to $235.00 in a research report on Monday, October 28th. Barclays cut their target price on shares of CDW from $229.00 to $201.00 and set an "equal weight" rating for the company in a research report on Thursday, October 31st. Finally, Redburn Atlantic began coverage on shares of CDW in a research report on Friday, November 15th. They issued a "buy" rating and a $230.00 target price for the company. Four 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 has an average rating of "Moderate Buy" and an average price target of $244.63.

CDW Trading Down 0.5 %

NASDAQ CDW traded down $0.82 during trading on Friday, hitting $175.93. 958,009 shares of the company's stock traded hands, compared to its average volume of 1,600,769. The stock has a fifty day moving average of $204.87 and a two-hundred day moving average of $216.89. The company has a debt-to-equity ratio of 2.39, a current ratio of 1.40 and a quick ratio of 1.28. CDW Co. has a 12-month low of $172.95 and a 12-month high of $263.37. The firm has a market cap of $23.44 billion, a P/E ratio of 21.51, a PEG ratio of 4.94 and a beta of 1.05.

CDW (NASDAQ:CDW - Get Free Report) last issued 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). The firm had revenue of $5.52 billion for the quarter, compared to the consensus estimate of $5.72 billion. CDW had a net margin of 5.33% and a return on equity of 58.31%. The business's revenue was down 2.0% on a year-over-year basis. During the same period last year, the company posted $2.60 earnings per share. As a group, sell-side analysts expect that CDW Co. will post 8.99 EPS for the current year.

CDW Increases Dividend

The business also recently declared 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 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 1.42%. The ex-dividend date of this dividend is Monday, November 25th. CDW's dividend payout ratio is presently 30.56%.

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.