Pathstone Holdings LLC Has $2.41 Million Stock Position in CDW Co. (NASDAQ:CDW)

Pathstone Holdings LLC lessened its holdings in shares of CDW Co. (NASDAQ:CDW) by 8.3% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 10,626 shares of the information technology services provider’s stock after selling 957 shares during the quarter. Pathstone Holdings LLC’s holdings in CDW were worth $2,405,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Peak Financial Advisors LLC bought a new position in shares of CDW during the 2nd quarter valued at about $2,854,000. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund acquired a new position in shares of CDW in the third quarter valued at approximately $12,761,000. Virtu Financial LLC increased its position in shares of CDW by 175.9% during the first quarter. Virtu Financial LLC now owns 7,115 shares of the information technology services provider’s stock worth $1,820,000 after acquiring an additional 4,536 shares in the last quarter. Raymond James & Associates raised its holdings in shares of CDW by 16.6% during the second quarter. Raymond James & Associates now owns 139,711 shares of the information technology services provider’s stock worth $31,273,000 after acquiring an additional 19,867 shares during the period. Finally, Thrivent Financial for Lutherans lifted its position in CDW by 12.8% in the 3rd quarter. Thrivent Financial for Lutherans now owns 599,900 shares of the information technology services provider’s stock valued at $135,758,000 after acquiring an additional 68,023 shares in the last quarter. 93.15% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Citigroup cut CDW from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $250.00 to $245.00 in a report on Tuesday, October 1st. Barclays decreased their price objective on CDW from $229.00 to $201.00 and set an “equal weight” rating for the company in a report on Thursday, October 31st. JPMorgan Chase & Co. cut CDW from an “overweight” rating to a “neutral” rating and cut their target price for the company from $260.00 to $235.00 in a research note on Monday, October 28th. Finally, Redburn Atlantic started coverage on shares of CDW in a research note on Friday, November 15th. They set a “buy” rating and a $230.00 price target for the company. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $244.63.

CDW Stock Up 1.7 %

NASDAQ:CDW opened at $181.34 on Tuesday. The company has a quick ratio of 1.28, a current ratio of 1.40 and a debt-to-equity ratio of 2.39. The stock’s 50 day moving average price is $209.49 and its two-hundred day moving average price is $218.42. CDW Co. has a twelve month low of $172.95 and a twelve month high of $263.37. The firm has a market capitalization of $24.17 billion, a price-to-earnings ratio of 22.17, a price-to-earnings-growth ratio of 5.03 and a beta of 1.05.

CDW (NASDAQ:CDW) last released its quarterly earnings data on Wednesday, October 30th. The information technology services provider reported $2.63 earnings per share (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 business had revenue of $5.52 billion during the quarter, compared to the consensus estimate of $5.72 billion. During the same quarter in the prior year, the company earned $2.60 EPS. CDW’s quarterly revenue was down 2.0% on a year-over-year basis. Equities research analysts expect that CDW Co. will post 8.99 earnings per share for the current fiscal year.

CDW Increases Dividend

The business 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 of this dividend is Monday, November 25th. This represents a $2.50 annualized dividend and a dividend yield of 1.38%. CDW’s payout ratio 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.