HighTower Advisors LLC Has $6.61 Million Stock Position in CDW Co. (NASDAQ:CDW)

HighTower Advisors LLC lowered its stake in shares of CDW Co. (NASDAQ:CDW) by 67.3% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 29,264 shares of the information technology services provider’s stock after selling 60,151 shares during the period. HighTower Advisors LLC’s holdings in CDW were worth $6,609,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the stock. Cetera Investment Advisers grew its position in shares of CDW by 165.3% in the 1st quarter. Cetera Investment Advisers now owns 9,665 shares of the information technology services provider’s stock valued at $2,472,000 after acquiring an additional 6,022 shares during the period. Cetera Advisors LLC lifted its stake in CDW by 27.7% in the 1st quarter. Cetera Advisors LLC now owns 2,016 shares of the information technology services provider’s stock valued at $516,000 after purchasing an additional 437 shares during the last quarter. ORG Partners LLC bought a new position in CDW during the second quarter worth about $34,000. Envestnet Portfolio Solutions Inc. increased its position in CDW by 7.0% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 9,712 shares of the information technology services provider’s stock worth $2,174,000 after buying an additional 632 shares during the last quarter. Finally, 180 Wealth Advisors LLC bought a new stake in CDW in the second quarter valued at approximately $443,000. Institutional investors and hedge funds own 93.15% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on CDW. Barclays decreased their target price on CDW from $229.00 to $201.00 and set an “equal weight” rating on the stock in a report on Thursday, October 31st. Citigroup downgraded shares of CDW from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $250.00 to $245.00 in a report on Tuesday, October 1st. Redburn Atlantic began coverage on shares of CDW in a research note on Friday, November 15th. They set a “buy” rating and a $230.00 target price for the company. 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 research note on Monday, October 28th. Four analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, CDW currently has a consensus rating of “Moderate Buy” and a consensus price target of $244.63.

CDW Stock Performance

NASDAQ CDW opened at $182.46 on Tuesday. The firm has a 50-day moving average price of $199.44 and a two-hundred day moving average price of $214.76. CDW Co. has a 12-month low of $172.95 and a 12-month high of $263.37. The company has a market capitalization of $24.31 billion, a P/E ratio of 22.31, a P/E/G ratio of 5.06 and a beta of 1.02. 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 (NASDAQ:CDW) last issued its quarterly earnings results 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 company 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% compared to the same quarter last year. During the same period in the prior year, the company earned $2.60 EPS. Analysts anticipate that CDW Co. will post 8.99 earnings per share for the current year.

CDW Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Monday, November 25th will be paid a $0.625 dividend. This represents a $2.50 dividend on an annualized basis and a yield of 1.37%. The ex-dividend date of this dividend is Monday, November 25th. This is an increase from CDW’s previous quarterly dividend of $0.62. CDW’s payout ratio is 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.