Victory Capital Management Inc. Sells 28,699 Shares of CDW Co. (NASDAQ:CDW)

Victory Capital Management Inc. lowered its stake in CDW Co. (NASDAQ:CDW - Free Report) by 16.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 149,610 shares of the information technology services provider's stock after selling 28,699 shares during the period. Victory Capital Management Inc. owned 0.11% of CDW worth $33,857,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of CDW. Aigen Investment Management LP bought a new stake in shares of CDW during the third quarter worth $803,000. Sumitomo Mitsui Trust Group Inc. raised its stake in shares of CDW by 1.9% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 331,969 shares of the information technology services provider's stock valued at $75,125,000 after purchasing an additional 6,161 shares during the period. Entropy Technologies LP boosted its position in shares of CDW by 42.0% during the third quarter. Entropy Technologies LP now owns 3,786 shares of the information technology services provider's stock worth $857,000 after buying an additional 1,120 shares during the period. Apollon Wealth Management LLC grew its holdings in shares of CDW by 36.1% during the third quarter. Apollon Wealth Management LLC now owns 2,938 shares of the information technology services provider's stock worth $665,000 after buying an additional 779 shares in the last quarter. Finally, WCM Investment Management LLC raised its position in CDW by 4.6% in the 3rd quarter. WCM Investment Management LLC now owns 1,380 shares of the information technology services provider's stock valued at $313,000 after buying an additional 61 shares during the last quarter. Institutional investors own 93.15% of the company's stock.

CDW Stock Performance

Shares of NASDAQ:CDW traded down $3.14 during mid-day trading on Friday, reaching $177.63. The company had a trading volume of 2,703,465 shares, compared to its average volume of 1,437,995. The company's 50-day moving average price is $213.49 and its 200-day moving average price is $219.90. CDW Co. has a one year low of $175.94 and a one year high of $263.37. The firm has a market cap of $23.67 billion, a price-to-earnings ratio of 21.72, a PEG ratio of 4.96 and a beta of 1.05. The company has a current ratio of 1.40, a quick ratio of 1.28 and a debt-to-equity ratio of 2.39.

CDW (NASDAQ:CDW - Get Free Report) last issued its quarterly earnings results on Wednesday, October 30th. The information technology services provider reported $2.63 EPS for the quarter, missing analysts' consensus estimates of $2.68 by ($0.05). CDW had a net margin of 5.33% and a return on equity of 58.31%. The firm had revenue of $5.52 billion for the quarter, compared to analysts' expectations of $5.72 billion. During the same period in the prior year, the company earned $2.60 EPS. The firm's quarterly revenue was down 2.0% on a year-over-year basis. As a group, equities research analysts anticipate that CDW Co. will post 9.05 EPS for the current fiscal year.

CDW Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Monday, November 25th will be issued a $0.625 dividend. 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 annualized dividend and a yield of 1.41%. CDW's dividend payout ratio (DPR) is 30.32%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on CDW. JPMorgan Chase & Co. downgraded CDW from an "overweight" rating to a "neutral" rating and reduced their price target for the stock from $260.00 to $235.00 in a research report on Monday, October 28th. Redburn Atlantic initiated coverage on CDW in a research report on Friday. They issued a "buy" rating and a $230.00 target price on the stock. Citigroup downgraded CDW from a "buy" rating to a "neutral" rating and reduced their price target for the company from $250.00 to $245.00 in a research note on Tuesday, October 1st. Finally, Barclays lowered their price objective 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. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat.com, CDW presently has a consensus rating of "Moderate Buy" and a consensus price target of $244.63.

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.