CDW Co. (NASDAQ:CDW) Shares Sold by Curi RMB Capital LLC

Curi RMB Capital LLC lessened its stake in CDW Co. (NASDAQ:CDW) by 0.8% during the 3rd quarter, HoldingsChannel reports. The firm owned 96,143 shares of the information technology services provider’s stock after selling 766 shares during the quarter. Curi RMB Capital LLC’s holdings in CDW were worth $21,757,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in CDW. Quest Partners LLC purchased a new position in CDW during the second quarter worth approximately $35,000. ORG Partners LLC purchased a new position in shares of CDW during the 2nd quarter valued at approximately $34,000. Canoe Financial LP acquired a new stake in CDW in the 3rd quarter valued at $37,000. Fortitude Family Office LLC increased its holdings in CDW by 350.0% in the 3rd 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 in the last quarter. Finally, Summit Securities Group LLC acquired a new position in CDW during the second quarter worth $40,000. Institutional investors and hedge funds own 93.15% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on CDW. Citigroup downgraded shares of CDW from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $250.00 to $245.00 in a research report on Tuesday, October 1st. Barclays lowered their target price on shares of CDW from $229.00 to $201.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 31st. Stifel Nicolaus increased their price target on CDW from $250.00 to $260.00 and gave the company a “buy” rating in a report on Wednesday, July 17th. Finally, JPMorgan Chase & Co. lowered CDW from an “overweight” rating to a “neutral” rating and lowered their price objective for the stock from $260.00 to $235.00 in a research note on Monday, October 28th. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $246.71.

CDW Price Performance

CDW stock opened at $186.01 on Thursday. CDW Co. has a 52-week low of $185.70 and a 52-week high of $263.37. The company has a quick ratio of 1.28, a current ratio of 1.40 and a debt-to-equity ratio of 2.39. The stock has a market cap of $24.79 billion, a price-to-earnings ratio of 22.74, a price-to-earnings-growth ratio of 5.35 and a beta of 1.05. The business has a fifty day moving average of $214.86 and a two-hundred day moving average of $220.81.

CDW (NASDAQ:CDW) last posted its earnings results 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). CDW had a net margin of 5.33% and a return on equity of 58.31%. The company had revenue of $5.52 billion during the quarter, compared to analyst estimates of $5.72 billion. During the same quarter last year, the business posted $2.60 EPS. The firm’s revenue for the quarter was down 2.0% on a year-over-year basis. As a group, research analysts anticipate that CDW Co. will post 9.05 earnings per share for the current year.

CDW Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Monday, November 25th will be paid a dividend of $0.625 per share. This is a positive change from CDW’s previous quarterly dividend of $0.62. The ex-dividend date of this dividend is Monday, November 25th. This represents a $2.50 annualized dividend and a yield of 1.34%. CDW’s dividend payout ratio is presently 30.32%.

About CDW

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.