Strategic Blueprint LLC Cuts Stake in CDW Co. (NASDAQ:CDW)

Strategic Blueprint LLC lowered its position in shares of CDW Co. (NASDAQ:CDW) by 10.6% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 2,099 shares of the information technology services provider’s stock after selling 250 shares during the period. Strategic Blueprint LLC’s holdings in CDW were worth $475,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. ORG Partners LLC bought a new stake in CDW during the second quarter valued at about $34,000. Quest Partners LLC bought a new stake in CDW during the second quarter valued at about $35,000. Canoe Financial LP bought a new stake in CDW during the third quarter valued at about $37,000. Fortitude Family Office LLC boosted its position in 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 in the last quarter. Finally, Summit Securities Group LLC bought a new stake in CDW during the second quarter valued at about $40,000. Hedge funds and other institutional investors own 93.15% of the company’s stock.

CDW Trading Down 3.5 %

CDW stock opened at $188.23 on Friday. The company has a quick ratio of 1.02, a current ratio of 1.13 and a debt-to-equity ratio of 2.03. CDW Co. has a 52 week low of $185.04 and a 52 week high of $263.37. The company has a market capitalization of $25.14 billion, a price-to-earnings ratio of 23.01, a price-to-earnings-growth ratio of 3.42 and a beta of 1.03. The stock has a 50-day moving average price of $220.86 and a 200 day moving average price of $223.97.

CDW (NASDAQ:CDW) last released its earnings results on Wednesday, July 31st. The information technology services provider reported $2.34 EPS for the quarter, missing analysts’ consensus estimates of $2.39 by ($0.05). CDW had a return on equity of 62.22% and a net margin of 5.29%. The firm had revenue of $5.42 billion for the quarter, compared to analyst estimates of $5.43 billion. During the same period last year, the firm earned $2.43 EPS. The company’s revenue for the quarter was down 3.6% compared to the same quarter last year. Sell-side analysts anticipate that CDW Co. will post 9.4 EPS for the current year.

CDW Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Monday, November 25th will be issued a dividend of $0.625 per share. This is an increase from CDW’s previous quarterly dividend of $0.62. The ex-dividend date is Monday, November 25th. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.33%. CDW’s payout ratio is 30.56%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on CDW. JPMorgan Chase & Co. downgraded CDW from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $260.00 to $235.00 in a research report on Monday. Citigroup downgraded CDW from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $250.00 to $245.00 in a report on Tuesday, October 1st. Barclays lowered their price target on CDW from $229.00 to $201.00 and set an “equal weight” rating for the company in a report on Thursday. Finally, Stifel Nicolaus raised their price target on CDW from $250.00 to $260.00 and gave the stock a “buy” rating in a report on Wednesday, July 17th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $246.71.

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.