Main Street Financial Solutions LLC Reduces Stock Position in CDW Co. (NASDAQ:CDW)

Main Street Financial Solutions LLC trimmed its position in shares of CDW Co. (NASDAQ:CDW) by 0.9% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 6,809 shares of the information technology services provider’s stock after selling 65 shares during the quarter. Main Street Financial Solutions LLC’s holdings in CDW were worth $1,541,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the business. ORG Partners LLC purchased a new position in shares of CDW in the second quarter worth $34,000. Quest Partners LLC purchased a new position in CDW in the 2nd quarter worth about $35,000. Canoe Financial LP bought a new position in CDW during the 3rd quarter valued at about $37,000. Fortitude Family Office LLC boosted its holdings in shares of CDW by 350.0% during the 3rd quarter. Fortitude Family Office LLC now owns 171 shares of the information technology services provider’s stock valued at $39,000 after acquiring an additional 133 shares during the last quarter. Finally, Summit Securities Group LLC bought a new stake in CDW in the 2nd quarter worth approximately $40,000. Institutional investors own 93.15% of the company’s stock.

CDW Stock Performance

Shares of CDW stock opened at $186.01 on Thursday. The stock’s fifty day moving average price is $214.86 and its 200-day moving average price is $220.81. CDW Co. has a 12 month low of $185.70 and a 12 month high of $263.37. The firm has a market cap of $24.79 billion, a P/E ratio of 22.74, a P/E/G ratio of 5.35 and a beta of 1.05. The company has a current ratio of 1.40, a quick ratio of 1.28 and a debt-to-equity ratio of 2.39.

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). 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 period in the previous year, the company 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 expect that CDW Co. will post 9.05 earnings per share for the current fiscal year.

CDW Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Monday, November 25th will be issued a $0.625 dividend. This is an increase from CDW’s previous quarterly dividend of $0.62. This represents a $2.50 annualized dividend and a dividend yield of 1.34%. The ex-dividend date is Monday, November 25th. CDW’s dividend payout ratio is 30.32%.

Analyst Ratings Changes

A number of equities analysts 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 on the stock in a report on Thursday, October 31st. Stifel Nicolaus lifted their target price on CDW from $250.00 to $260.00 and gave the stock a “buy” rating in a report on Wednesday, July 17th. Citigroup cut shares of CDW from a “buy” rating to a “neutral” rating and decreased their target price for the company from $250.00 to $245.00 in a research report on Tuesday, October 1st. Finally, JPMorgan Chase & Co. lowered 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 report on Monday, October 28th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $246.71.

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.