MCF Advisors LLC Cuts Position in CDW Co. (NASDAQ:CDW)

MCF Advisors LLC trimmed its holdings in shares of CDW Co. (NASDAQ:CDW) by 28.8% in the fourth quarter, HoldingsChannel.com reports. The fund owned 718 shares of the information technology services provider’s stock after selling 291 shares during the period. MCF Advisors LLC’s holdings in CDW were worth $125,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Canoe Financial LP bought a new stake in shares of CDW during the 3rd quarter worth $37,000. Fortitude Family Office LLC raised 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 acquiring an additional 133 shares during the period. Ashton Thomas Securities LLC purchased a new position in CDW in the third quarter valued at about $43,000. Covestor Ltd boosted its stake in CDW by 80.1% in the third quarter. Covestor Ltd now owns 245 shares of the information technology services provider’s stock valued at $55,000 after acquiring an additional 109 shares during the last quarter. Finally, Kimelman & Baird LLC bought a new position in shares of CDW during the 2nd quarter valued at approximately $56,000. Hedge funds and other institutional investors own 93.15% of the company’s stock.

Wall Street Analyst Weigh In

CDW has been the topic of several research analyst reports. UBS Group dropped their price objective on CDW from $233.00 to $220.00 and set a “buy” rating on the stock in a research note on Tuesday, January 7th. Morgan Stanley increased their price target on CDW from $190.00 to $193.00 and gave the stock an “equal weight” rating in a research note on Monday, December 16th. Barclays lowered their price objective on CDW from $229.00 to $201.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 31st. JPMorgan Chase & Co. lowered shares of CDW from an “overweight” rating to a “neutral” rating and cut their target price for the stock from $260.00 to $235.00 in a research report on Monday, October 28th. Finally, Citigroup lowered shares of CDW from a “buy” rating to a “neutral” rating and lowered their price target for the company from $250.00 to $245.00 in a research report on Tuesday, October 1st. Four analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $239.33.

CDW Price Performance

CDW stock opened at $194.30 on Thursday. The firm has a 50 day moving average of $179.11 and a 200-day moving average of $204.73. 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 firm has a market capitalization of $25.89 billion, a P/E ratio of 23.75, a price-to-earnings-growth ratio of 5.11 and a beta of 1.01. CDW Co. has a 12 month low of $168.43 and a 12 month high of $263.37.

CDW (NASDAQ:CDW) last released its quarterly earnings results 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 net margin of 5.33% and a return on equity of 58.31%. The firm had revenue of $5.52 billion for the quarter, compared to analysts’ expectations of $5.72 billion. During the same quarter last year, the firm earned $2.60 earnings per share. The firm’s revenue for the quarter was down 2.0% on a year-over-year basis. As a group, sell-side analysts predict that CDW Co. will post 8.99 earnings per share for the current fiscal year.

CDW Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Monday, November 25th were given a dividend of $0.625 per share. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.29%. The ex-dividend date of this dividend was Monday, November 25th. This is an increase from CDW’s previous quarterly dividend of $0.62. CDW’s dividend payout ratio (DPR) is 30.56%.

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.