Wellington Management Group LLP Sells 1,857,218 Shares of CDW Co. (NASDAQ:CDW)

Wellington Management Group LLP cut its holdings in shares of CDW Co. (NASDAQ:CDW - Free Report) by 48.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,964,331 shares of the information technology services provider's stock after selling 1,857,218 shares during the quarter. Wellington Management Group LLP owned 1.47% of CDW worth $444,528,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. PDS Planning Inc increased its holdings in CDW by 4.3% in the 3rd quarter. PDS Planning Inc now owns 1,186 shares of the information technology services provider's stock valued at $268,000 after buying an additional 49 shares during the period. Oregon Public Employees Retirement Fund increased its stake in CDW by 0.5% in the second quarter. Oregon Public Employees Retirement Fund now owns 11,541 shares of the information technology services provider's stock valued at $2,583,000 after acquiring an additional 54 shares during the last quarter. Profund Advisors LLC raised its position in CDW by 0.5% during the second quarter. Profund Advisors LLC now owns 12,469 shares of the information technology services provider's stock valued at $2,791,000 after purchasing an additional 58 shares in the last quarter. OneAscent Wealth Management LLC lifted its stake in CDW by 2.5% during the third quarter. OneAscent Wealth Management LLC now owns 2,387 shares of the information technology services provider's stock worth $540,000 after purchasing an additional 58 shares during the last quarter. Finally, Elo Mutual Pension Insurance Co lifted its stake in CDW by 0.5% during the second quarter. Elo Mutual Pension Insurance Co now owns 12,301 shares of the information technology services provider's stock worth $2,753,000 after purchasing an additional 61 shares during the last quarter. 93.15% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CDW has been the subject of a number of research analyst reports. Redburn Atlantic assumed coverage on CDW in a report on Friday, November 15th. They set a "buy" rating and a $230.00 price target for the company. JPMorgan Chase & Co. downgraded shares of CDW from an "overweight" rating to a "neutral" rating and reduced their price target for the company from $260.00 to $235.00 in a research note on Monday, October 28th. Citigroup cut 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. Finally, Barclays cut their price objective on CDW from $229.00 to $201.00 and set an "equal weight" rating on the stock in a report on Thursday, October 31st. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $244.63.

CDW Trading Up 1.0 %

Shares of CDW stock traded up $1.76 during trading on Friday, hitting $180.06. The company's stock had a trading volume of 970,594 shares, compared to its average volume of 1,553,574. The stock has a market cap of $24.00 billion, a price-to-earnings ratio of 22.01, a price-to-earnings-growth ratio of 5.01 and a beta of 1.02. 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 52 week low of $172.95 and a 52 week high of $263.37. The stock has a 50-day moving average price of $200.31 and a two-hundred day moving average price of $215.26.

CDW (NASDAQ:CDW - Get Free Report) last released 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 company had revenue of $5.52 billion during the quarter, compared to the consensus estimate of $5.72 billion. During the same quarter last year, the firm posted $2.60 EPS. The company's quarterly revenue was down 2.0% on a year-over-year basis. Equities research analysts anticipate that CDW Co. will post 8.99 EPS for the current fiscal year.

CDW Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Monday, November 25th will be issued a dividend of $0.625 per share. This is a positive change from CDW's previous quarterly dividend of $0.62. The ex-dividend date of this dividend is Monday, November 25th. This represents a $2.50 annualized dividend and a yield of 1.39%. CDW's dividend payout ratio (DPR) is presently 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.