Atria Investments Inc Lowers Stock Holdings in CDW Co. (NASDAQ:CDW)

Atria Investments Inc reduced its position in CDW Co. (NASDAQ:CDW) by 5.9% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 20,731 shares of the information technology services provider’s stock after selling 1,294 shares during the quarter. Atria Investments Inc’s holdings in CDW were worth $4,691,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in CDW. ORG Partners LLC acquired a new position in CDW in the second quarter valued at $34,000. Quest Partners LLC acquired a new position in CDW in the second quarter valued at $35,000. Canoe Financial LP acquired a new stake in CDW during the third quarter worth about $37,000. Fortitude Family Office LLC lifted its stake in shares of CDW by 350.0% in the 3rd quarter. Fortitude Family Office LLC now owns 171 shares of the information technology services provider’s stock valued at $39,000 after purchasing an additional 133 shares in the last quarter. Finally, Summit Securities Group LLC purchased a new stake in shares of CDW during the 2nd quarter worth about $40,000. Institutional investors and hedge funds own 93.15% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Barclays dropped their price objective on shares of 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 CDW from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $250.00 to $245.00 in a research report on Tuesday, October 1st. JPMorgan Chase & Co. cut 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 report on Monday, October 28th. Finally, Stifel Nicolaus raised their price target on shares of CDW from $250.00 to $260.00 and gave the company a “buy” rating in a report on Wednesday, July 17th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, CDW currently has a consensus rating of “Hold” and an average target price of $246.71.

CDW Stock Performance

Shares of NASDAQ CDW opened at $191.91 on Wednesday. The stock has a 50 day simple moving average of $215.43 and a 200-day simple moving average of $221.05. The company has a current ratio of 1.40, a quick ratio of 1.28 and a debt-to-equity ratio of 2.39. The company has a market cap of $25.57 billion, a PE ratio of 23.46, a P/E/G ratio of 5.58 and a beta of 1.05. CDW Co. has a 12-month low of $187.73 and a 12-month high of $263.37.

CDW (NASDAQ:CDW) last posted its quarterly earnings data on Wednesday, October 30th. The information technology services provider reported $2.63 earnings per share for the quarter, missing the consensus estimate of $2.68 by ($0.05). The business had revenue of $5.52 billion for the quarter, compared to the consensus estimate of $5.72 billion. CDW had a net margin of 5.33% and a return on equity of 58.31%. The business’s revenue for the quarter was down 2.0% on a year-over-year basis. During the same quarter last year, the business posted $2.60 EPS. On average, equities research analysts forecast that CDW Co. will post 9.05 EPS for the current year.

CDW Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Monday, November 25th will be given a $0.625 dividend. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.30%. This is a positive change from CDW’s previous quarterly dividend of $0.62. The ex-dividend date is Monday, November 25th. CDW’s dividend 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.