Stock Yards Bank & Trust Co. Sells 285 Shares of CDW Co. (NASDAQ:CDW)

Stock Yards Bank & Trust Co. reduced its position in CDW Co. (NASDAQ:CDW) by 5.2% in the fourth quarter, Holdings Channel.com reports. The fund owned 5,164 shares of the information technology services provider’s stock after selling 285 shares during the quarter. Stock Yards Bank & Trust Co.’s holdings in CDW were worth $899,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of CDW. Massachusetts Financial Services Co. MA purchased a new position in shares of CDW during the third quarter worth about $416,111,000. Janus Henderson Group PLC increased its holdings in shares of CDW by 7,029.1% in the 3rd quarter. Janus Henderson Group PLC now owns 1,466,597 shares of the information technology services provider’s stock worth $331,891,000 after buying an additional 1,446,025 shares during the last quarter. Holocene Advisors LP purchased a new stake in shares of CDW during the 3rd quarter valued at $172,217,000. Perpetual Ltd bought a new stake in shares of CDW during the 3rd quarter worth $158,300,000. Finally, Assenagon Asset Management S.A. grew its position in CDW by 7,549.9% in the fourth quarter. Assenagon Asset Management S.A. now owns 256,271 shares of the information technology services provider’s stock worth $44,601,000 after acquiring an additional 252,921 shares in the last quarter. Hedge funds and other institutional investors own 93.15% of the company’s stock.

CDW Price Performance

Shares of CDW stock opened at $198.44 on Tuesday. The company’s fifty day simple moving average is $182.06 and its two-hundred day simple moving average is $202.83. CDW Co. has a 12-month low of $168.43 and a 12-month high of $263.37. The firm has a market cap of $26.44 billion, a PE ratio of 24.26, a price-to-earnings-growth ratio of 5.39 and a beta of 1.01. The company has a quick ratio of 1.28, a current ratio of 1.40 and a debt-to-equity ratio of 2.39.

CDW Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Monday, November 25th were issued a dividend of $0.625 per share. This represents a $2.50 dividend on an annualized basis and a yield of 1.26%. 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%.

Analysts Set New Price Targets

A number of research firms have weighed in on CDW. JPMorgan Chase & Co. downgraded CDW from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $260.00 to $235.00 in a research report on Monday, October 28th. 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. Redburn Atlantic assumed coverage on shares of CDW in a research note on Friday, November 15th. They set a “buy” rating and a $230.00 price target on the stock. Morgan Stanley upped their price objective on shares of CDW from $190.00 to $193.00 and gave the company an “equal weight” rating in a research note on Monday, December 16th. Finally, UBS Group decreased their target price on shares of CDW from $233.00 to $220.00 and set a “buy” rating on the stock in a research report on Tuesday, January 7th. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $239.33.

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.