CDW Co. (NASDAQ:CDW) Position Decreased by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC trimmed its stake in shares of CDW Co. (NASDAQ:CDW) by 14.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,287 shares of the information technology services provider’s stock after selling 699 shares during the period. Nisa Investment Advisors LLC’s holdings in CDW were worth $746,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Sei Investments Co. grew its stake in CDW by 10.6% in the second quarter. Sei Investments Co. now owns 29,927 shares of the information technology services provider’s stock valued at $6,699,000 after purchasing an additional 2,867 shares in the last quarter. AQR Capital Management LLC increased its position in CDW by 8.8% in the 2nd quarter. AQR Capital Management LLC now owns 58,585 shares of the information technology services provider’s stock worth $13,114,000 after buying an additional 4,720 shares during the period. Northwestern Mutual Wealth Management Co. raised its stake in CDW by 9.6% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 3,261 shares of the information technology services provider’s stock valued at $730,000 after purchasing an additional 286 shares during the last quarter. Quarry LP bought a new stake in shares of CDW in the second quarter valued at about $81,000. Finally, Kimelman & Baird LLC bought a new position in CDW in the second quarter worth $56,000. Institutional investors and hedge funds own 93.15% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on CDW shares. 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. Citigroup downgraded shares of CDW from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $250.00 to $245.00 in a research report on Tuesday, October 1st. Barclays lowered their price objective on CDW from $229.00 to $201.00 and set an “equal weight” rating for the company in a research report on Thursday, October 31st. UBS Group reduced their price target on CDW from $233.00 to $220.00 and set a “buy” rating on the stock in a research report on Tuesday, January 7th. Finally, JPMorgan Chase & Co. lowered shares of CDW from an “overweight” rating to a “neutral” rating and decreased their price target for the company from $260.00 to $235.00 in a report on Monday, October 28th. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $239.33.

CDW Price Performance

NASDAQ CDW opened at $194.76 on Wednesday. The company has a quick ratio of 1.28, a current ratio of 1.40 and a debt-to-equity ratio of 2.39. CDW Co. has a 12-month low of $168.43 and a 12-month high of $263.37. The firm’s 50 day moving average is $180.53 and its 200-day moving average is $203.91. The company has a market capitalization of $25.95 billion, a PE ratio of 23.81, a price-to-earnings-growth ratio of 5.26 and a beta of 1.01.

CDW (NASDAQ:CDW) last issued 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 net margin of 5.33% and a return on equity of 58.31%. The company had revenue of $5.52 billion for the quarter, compared to analyst estimates of $5.72 billion. During the same period last year, the company posted $2.60 earnings per share. The business’s revenue for the quarter was down 2.0% on a year-over-year basis. Equities research analysts anticipate that CDW Co. will post 8.99 earnings per share for the current fiscal year.

CDW Increases Dividend

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

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.