Carnegie Investment Counsel Sells 600 Shares of CDW Co. (NASDAQ:CDW)

Carnegie Investment Counsel lessened its stake in shares of CDW Co. (NASDAQ:CDW) by 12.8% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,074 shares of the information technology services provider’s stock after selling 600 shares during the period. Carnegie Investment Counsel’s holdings in CDW were worth $709,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in the company. Canoe Financial LP bought a new position in CDW during the third quarter valued at approximately $37,000. Fortitude Family Office LLC increased its position in CDW by 350.0% in the third quarter. Fortitude Family Office LLC now owns 171 shares of the information technology services provider’s stock worth $39,000 after purchasing an additional 133 shares during the last quarter. Ashton Thomas Securities LLC purchased a new stake in CDW during the third quarter valued at $43,000. Covestor Ltd lifted its position in CDW by 80.1% during the third quarter. Covestor Ltd now owns 245 shares of the information technology services provider’s stock valued at $55,000 after purchasing an additional 109 shares during the last quarter. Finally, Kimelman & Baird LLC purchased a new position in shares of CDW in the 2nd quarter worth $56,000. Hedge funds and other institutional investors own 93.15% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on CDW shares. UBS Group lowered their price target on shares of CDW from $233.00 to $220.00 and set a “buy” rating for the company in a report on Tuesday, January 7th. JPMorgan Chase & Co. lowered CDW from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $260.00 to $235.00 in a research note on Monday, October 28th. Barclays decreased their target price 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. Citigroup downgraded shares of 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 research note on Tuesday, October 1st. Finally, Morgan Stanley lifted their price objective on CDW from $190.00 to $193.00 and gave the company an “equal weight” rating in a report on Monday, December 16th. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $239.33.

CDW Price Performance

Shares of CDW stock opened at $188.70 on Friday. The stock’s 50-day moving average is $179.13 and its 200 day moving average is $205.27. CDW Co. has a 1-year low of $168.43 and a 1-year high of $263.37. The company has a debt-to-equity ratio of 2.39, a current ratio of 1.40 and a quick ratio of 1.28. The company has a market cap of $25.15 billion, a P/E ratio of 23.07, a PEG ratio of 4.91 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 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.68 by ($0.05). CDW had a return on equity of 58.31% and a net margin of 5.33%. The business had revenue of $5.52 billion for the quarter, compared to analyst estimates of $5.72 billion. During the same period in the previous 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. Research analysts predict 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 was paid on Tuesday, December 10th. Shareholders of record on Monday, November 25th were given a dividend of $0.625 per share. This represents a $2.50 annualized dividend and a yield of 1.32%. The ex-dividend date was Monday, November 25th. This is an increase from CDW’s previous quarterly dividend of $0.62. 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.