Farther Finance Advisors LLC Trims Position in CDW Co. (NASDAQ:CDW)

Farther Finance Advisors LLC trimmed its holdings in shares of CDW Co. (NASDAQ:CDW) by 62.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 587 shares of the information technology services provider’s stock after selling 976 shares during the quarter. Farther Finance Advisors LLC’s holdings in CDW were worth $133,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. RDA Financial Network increased its position in shares of CDW by 3.0% during the 2nd quarter. RDA Financial Network now owns 1,587 shares of the information technology services provider’s stock worth $355,000 after purchasing an additional 46 shares during the last quarter. Oregon Public Employees Retirement Fund increased its position in shares of CDW by 0.5% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 11,541 shares of the information technology services provider’s stock worth $2,583,000 after purchasing an additional 54 shares during the last quarter. Profund Advisors LLC increased its position in shares of CDW by 0.5% during the 2nd quarter. Profund Advisors LLC now owns 12,469 shares of the information technology services provider’s stock worth $2,791,000 after purchasing an additional 58 shares during the last quarter. Elo Mutual Pension Insurance Co increased its position in shares of CDW by 0.5% during the 2nd quarter. Elo Mutual Pension Insurance Co now owns 12,301 shares of the information technology services provider’s stock worth $2,753,000 after purchasing an additional 61 shares during the last quarter. Finally, Harbour Trust & Investment Management Co increased its position in shares of CDW by 0.3% during the 3rd quarter. Harbour Trust & Investment Management Co now owns 20,869 shares of the information technology services provider’s stock worth $4,723,000 after purchasing an additional 62 shares during the last quarter. 93.15% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

CDW has been the subject of a number of recent analyst reports. Citigroup downgraded CDW from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $250.00 to $245.00 in a research report on Tuesday, October 1st. Stifel Nicolaus lifted their target price on CDW from $250.00 to $260.00 and gave the company a “buy” rating in a research report on Wednesday, July 17th. JPMorgan Chase & Co. downgraded CDW from an “overweight” rating to a “neutral” rating and dropped their target price for the company from $260.00 to $235.00 in a research report on Monday, October 28th. Finally, Barclays dropped 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. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $246.71.

CDW Stock Performance

Shares of CDW stock opened at $197.81 on Tuesday. CDW Co. has a one year low of $187.73 and a one year high of $263.37. The company has a market cap of $26.36 billion, a PE ratio of 24.18, a P/E/G ratio of 5.58 and a beta of 1.05. The company has a debt-to-equity ratio of 2.39, a quick ratio of 1.28 and a current ratio of 1.40. The business has a 50-day simple moving average of $215.94 and a 200-day simple moving average of $221.41.

CDW (NASDAQ:CDW) last announced its quarterly earnings data on Wednesday, October 30th. The information technology services provider reported $2.63 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 company had revenue of $5.52 billion for the quarter, compared to analyst estimates of $5.72 billion. During the same period in the prior year, the firm posted $2.60 earnings per share. The business’s quarterly revenue was down 2.0% compared to the same quarter last year. On average, equities research analysts forecast that CDW Co. will post 9.05 EPS for the current fiscal year.

CDW Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Monday, November 25th will be paid a dividend of $0.625 per share. This is a boost 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 yield of 1.26%. CDW’s payout ratio is presently 30.32%.

CDW Company 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.