Prospera Financial Services Inc Sells 289 Shares of CDW Co. (NASDAQ:CDW)

Prospera Financial Services Inc lowered its holdings in shares of CDW Co. (NASDAQ:CDW) by 22.8% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 981 shares of the information technology services provider’s stock after selling 289 shares during the period. Prospera Financial Services Inc’s holdings in CDW were worth $222,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. OneAscent Wealth Management LLC boosted its stake in shares of CDW by 2.5% during the 3rd quarter. OneAscent Wealth Management LLC now owns 2,387 shares of the information technology services provider’s stock worth $540,000 after acquiring an additional 58 shares during the period. LMR Partners LLP bought a new position in CDW during the third quarter worth $381,000. Swiss National Bank increased its holdings in shares of CDW by 0.4% in the third quarter. Swiss National Bank now owns 398,900 shares of the information technology services provider’s stock valued at $90,271,000 after purchasing an additional 1,500 shares during the last quarter. Thrivent Financial for Lutherans raised its position in shares of CDW by 12.8% in the third quarter. Thrivent Financial for Lutherans now owns 599,900 shares of the information technology services provider’s stock valued at $135,758,000 after purchasing an additional 68,023 shares during the period. Finally, RiverPark Advisors LLC lifted its stake in shares of CDW by 5.8% during the 3rd quarter. RiverPark Advisors LLC now owns 5,549 shares of the information technology services provider’s stock worth $1,256,000 after buying an additional 305 shares during the last quarter. Institutional investors and hedge funds own 93.15% of the company’s stock.

Wall Street Analyst Weigh In

CDW has been the topic of several research analyst reports. Barclays lowered their price target on shares of CDW from $229.00 to $201.00 and set an “equal weight” rating on the stock in a report on Thursday, October 31st. JPMorgan Chase & Co. cut CDW from an “overweight” rating to a “neutral” rating and dropped their price target for the stock from $260.00 to $235.00 in a report on Monday, October 28th. Redburn Atlantic initiated coverage on CDW in a report on Friday, November 15th. They issued a “buy” rating and a $230.00 price objective on the stock. Finally, Citigroup downgraded CDW from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $250.00 to $245.00 in a report on Tuesday, October 1st. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, CDW has an average rating of “Moderate Buy” and a consensus target price of $244.63.

CDW Stock Performance

CDW opened at $181.34 on Tuesday. 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 Co. has a 52-week low of $172.95 and a 52-week high of $263.37. The firm has a market cap of $24.17 billion, a P/E ratio of 22.17, a price-to-earnings-growth ratio of 5.03 and a beta of 1.05. The business’s fifty day moving average is $209.49 and its 200-day moving average is $218.42.

CDW (NASDAQ:CDW) last announced its quarterly earnings data on Wednesday, October 30th. The information technology services provider reported $2.63 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.68 by ($0.05). The firm had revenue of $5.52 billion for the quarter, compared to analyst estimates of $5.72 billion. CDW had a return on equity of 58.31% and a net margin of 5.33%. The company’s quarterly revenue was down 2.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.60 earnings per share. Sell-side analysts expect that CDW Co. will post 8.99 EPS for the current fiscal year.

CDW Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Monday, November 25th will be given a dividend of $0.625 per share. This is an increase from CDW’s previous quarterly dividend of $0.62. This represents a $2.50 annualized dividend and a yield of 1.38%. The ex-dividend date is Monday, November 25th. CDW’s payout ratio is currently 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.