Oppenheimer & Co. Inc. Trims Stake in CDW Co. (NASDAQ:CDW)

Oppenheimer & Co. Inc. cut its stake in CDW Co. (NASDAQ:CDW) by 6.6% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,688 shares of the information technology services provider’s stock after selling 120 shares during the period. Oppenheimer & Co. Inc.’s holdings in CDW were worth $382,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of CDW. Quest Partners LLC purchased a new position in CDW during the second quarter valued at $35,000. ORG Partners LLC bought a new stake in CDW in the 2nd quarter worth about $34,000. Canoe Financial LP bought a new stake in shares of CDW in the third quarter worth approximately $37,000. Fortitude Family Office LLC raised its holdings in shares of CDW by 350.0% during the third quarter. Fortitude Family Office LLC now owns 171 shares of the information technology services provider’s stock valued at $39,000 after purchasing an additional 133 shares during the last quarter. Finally, Summit Securities Group LLC purchased a new stake in CDW in the second quarter worth approximately $40,000. 93.15% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Citigroup cut CDW from a “buy” rating to a “neutral” rating and lowered their price target for the company from $250.00 to $245.00 in a report on Tuesday, October 1st. JPMorgan Chase & Co. cut shares of CDW from an “overweight” rating to a “neutral” rating and reduced their target price for the company from $260.00 to $235.00 in a report on Monday, October 28th. Barclays cut their price objective 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 assumed coverage on CDW in a report on Friday, November 15th. They issued a “buy” rating and a $230.00 target price on the stock. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, CDW has a consensus rating of “Moderate Buy” and an average price target of $244.63.

CDW Stock Up 1.1 %

Shares of CDW opened at $177.91 on Friday. The business’s 50 day moving average is $211.13 and its 200 day moving average is $219.03. 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 Co. has a 12-month low of $172.95 and a 12-month high of $263.37. The company has a market capitalization of $23.71 billion, a PE ratio of 21.75, a price-to-earnings-growth ratio of 4.86 and a beta of 1.05.

CDW (NASDAQ:CDW) last announced its quarterly earnings results 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). CDW had a return on equity of 58.31% and a net margin of 5.33%. The company 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 firm earned $2.60 EPS. The firm’s revenue for the quarter was down 2.0% compared to the same quarter last year. Research analysts expect that CDW Co. will post 9.05 earnings per share 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 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 dividend on an annualized basis and a dividend yield of 1.41%. CDW’s payout ratio is 30.32%.

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.