Park Avenue Securities LLC Sells 1,288 Shares of CDW Co. (NASDAQ:CDW)

Park Avenue Securities LLC cut its stake in CDW Co. (NASDAQ:CDW) by 45.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,577 shares of the information technology services provider’s stock after selling 1,288 shares during the period. Park Avenue Securities LLC’s holdings in CDW were worth $274,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. PDS Planning Inc boosted its stake in shares of CDW by 4.3% during the third quarter. PDS Planning Inc now owns 1,186 shares of the information technology services provider’s stock valued at $268,000 after purchasing an additional 49 shares in the last quarter. OneAscent Wealth Management LLC grew its position in CDW by 2.5% in the 3rd quarter. OneAscent Wealth Management LLC now owns 2,387 shares of the information technology services provider’s stock valued at $540,000 after purchasing an additional 58 shares during the period. Fulcrum Equity Management increased its holdings in CDW by 4.3% during the 3rd quarter. Fulcrum Equity Management now owns 1,442 shares of the information technology services provider’s stock worth $326,000 after purchasing an additional 60 shares in the last quarter. WCM Investment Management LLC grew its stake in shares of 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 worth $313,000 after acquiring an additional 61 shares in the last quarter. Finally, Harbour Trust & Investment Management Co boosted its position in CDW by 0.3% in the third quarter. Harbour Trust & Investment Management Co now owns 20,869 shares of the information technology services provider’s stock worth $4,723,000 after purchasing an additional 62 shares during the last quarter. 93.15% of the stock is owned by institutional investors.

CDW Trading Down 1.2 %

Shares of CDW stock opened at $195.13 on Friday. The company has a market capitalization of $26.00 billion, a PE ratio of 23.85, a price-to-earnings-growth ratio of 5.26 and a beta of 1.01. CDW Co. has a 52-week low of $168.43 and a 52-week high of $263.37. The business’s fifty day moving average is $179.79 and its 200 day moving average is $204.45. The company has a debt-to-equity ratio of 2.39, a quick ratio of 1.28 and a current ratio of 1.40.

CDW (NASDAQ:CDW) last released its quarterly earnings results on Wednesday, October 30th. The information technology services provider reported $2.63 earnings per share for the quarter, missing the consensus estimate of $2.68 by ($0.05). CDW had a net margin of 5.33% and a return on equity of 58.31%. The business had revenue of $5.52 billion during the quarter, compared to analysts’ expectations of $5.72 billion. During the same period in the previous year, the business earned $2.60 EPS. The business’s revenue was down 2.0% on a year-over-year basis. On average, equities research analysts anticipate that CDW Co. will post 8.99 EPS for the current fiscal year.

CDW Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Monday, November 25th were given a dividend of $0.625 per share. The ex-dividend date was Monday, November 25th. This represents a $2.50 annualized dividend and a dividend yield of 1.28%. This is a boost from CDW’s previous quarterly dividend of $0.62. CDW’s dividend payout ratio (DPR) is 30.56%.

Analyst Upgrades and Downgrades

CDW has been the subject of several research reports. UBS Group reduced their price objective on CDW from $233.00 to $220.00 and set a “buy” rating for the company in a report on Tuesday, January 7th. 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 note on Thursday, October 31st. 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 lowered their price target for the company from $260.00 to $235.00 in a research report on Monday, October 28th. Finally, Morgan Stanley raised their price objective on shares of CDW from $190.00 to $193.00 and gave the stock an “equal weight” rating in a report on Monday, December 16th. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, CDW has an average rating of “Moderate Buy” and a consensus target price of $239.33.

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.