Bartlett & CO. Wealth Management LLC Lowers Stock Holdings in CDW Co. (NASDAQ:CDW)

Bartlett & CO. Wealth Management LLC reduced its holdings in CDW Co. (NASDAQ:CDW) by 3.1% during the 4th quarter, Holdings Channel reports. The firm owned 198,678 shares of the information technology services provider’s stock after selling 6,440 shares during the quarter. Bartlett & CO. Wealth Management LLC’s holdings in CDW were worth $34,578,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Canoe Financial LP acquired a new stake in CDW in the 3rd quarter valued at $37,000. Fortitude Family Office LLC lifted its holdings in CDW by 350.0% during the third 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. Ashton Thomas Securities LLC acquired a new stake in shares of CDW in the third quarter valued at about $43,000. Covestor Ltd increased its stake in shares of CDW by 80.1% during the third quarter. Covestor Ltd now owns 245 shares of the information technology services provider’s stock worth $55,000 after purchasing an additional 109 shares in the last quarter. Finally, Kimelman & Baird LLC acquired a new position in shares of CDW during the 2nd quarter worth about $56,000. 93.15% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on CDW shares. Morgan Stanley lifted their price objective on CDW from $190.00 to $193.00 and gave the stock an “equal weight” rating in a report on Monday, December 16th. Barclays dropped their price target 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. JPMorgan Chase & Co. cut shares of CDW from an “overweight” rating to a “neutral” rating and lowered their target price for the stock from $260.00 to $235.00 in a research note on Monday, October 28th. Redburn Atlantic began coverage on shares of CDW in a research report on Friday, November 15th. They issued a “buy” rating and a $230.00 target price for the company. Finally, Citigroup lowered shares of CDW from a “buy” rating to a “neutral” rating and lowered their price target for the stock 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 assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $239.33.

CDW Price Performance

Shares of CDW stock opened at $194.30 on Thursday. 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 capitalization of $25.89 billion, a PE ratio of 23.75, a price-to-earnings-growth ratio of 5.11 and a beta of 1.01. The firm’s 50-day moving average is $179.11 and its two-hundred day moving average is $204.73. 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 the consensus estimate of $2.68 by ($0.05). The firm had revenue of $5.52 billion for the quarter, compared to analysts’ expectations of $5.72 billion. CDW had a net margin of 5.33% and a return on equity of 58.31%. The firm’s quarterly revenue was down 2.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.60 EPS. Analysts predict that CDW Co. will post 8.99 earnings per share for the current year.

CDW Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Investors 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%. This is an increase from CDW’s previous quarterly dividend of $0.62. The ex-dividend date was Monday, November 25th. CDW’s dividend payout ratio (DPR) is presently 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.