Navellier & Associates Inc. Sells 527 Shares of CDW Co. (NASDAQ:CDW)

Navellier & Associates Inc. reduced its holdings in shares of CDW Co. (NASDAQ:CDW) by 4.3% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 11,714 shares of the information technology services provider’s stock after selling 527 shares during the quarter. Navellier & Associates Inc.’s holdings in CDW were worth $2,651,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of the business. Peak Financial Advisors LLC bought a new position in shares of CDW during the 2nd quarter valued at $2,854,000. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund bought a new position in CDW in the third quarter valued at about $12,761,000. Virtu Financial LLC boosted its position in CDW by 175.9% in the first quarter. Virtu Financial LLC now owns 7,115 shares of the information technology services provider’s stock worth $1,820,000 after purchasing an additional 4,536 shares during the last quarter. Raymond James & Associates grew its stake in shares of CDW by 16.6% during the 2nd quarter. Raymond James & Associates now owns 139,711 shares of the information technology services provider’s stock valued at $31,273,000 after purchasing an additional 19,867 shares during the period. Finally, Thrivent Financial for Lutherans increased its position in shares of CDW by 12.8% during the 3rd quarter. Thrivent Financial for Lutherans now owns 599,900 shares of the information technology services provider’s stock valued at $135,758,000 after purchasing an additional 68,023 shares during the last quarter. 93.15% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts recently issued reports on CDW shares. Citigroup lowered shares of CDW from a “buy” rating to a “neutral” rating and cut their target price for the company from $250.00 to $245.00 in a research report on Tuesday, October 1st. Barclays reduced their price objective on CDW from $229.00 to $201.00 and set an “equal weight” rating for the company in a research note on Thursday, October 31st. Redburn Atlantic began coverage on CDW in a research report on Friday, November 15th. They set a “buy” rating and a $230.00 target price on the stock. Finally, JPMorgan Chase & Co. cut CDW from an “overweight” rating to a “neutral” rating and reduced their price target for the stock from $260.00 to $235.00 in a research report on Monday, October 28th. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $244.63.

CDW Price Performance

Shares of CDW stock opened at $176.96 on Thursday. The stock’s 50-day simple moving average is $211.13 and its 200-day simple moving average is $219.03. 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 Co. has a 52 week low of $172.95 and a 52 week high of $263.37. The company has a market capitalization of $23.58 billion, a price-to-earnings ratio of 21.51, a PEG ratio of 4.86 and a beta of 1.05.

CDW (NASDAQ:CDW) last released its quarterly earnings data 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 company had revenue of $5.52 billion for the quarter, compared to the consensus estimate of $5.72 billion. CDW had a net margin of 5.33% and a return on equity of 58.31%. The firm’s revenue for the quarter was down 2.0% on a year-over-year basis. During the same period last year, the company earned $2.60 EPS. As a group, analysts expect that CDW Co. will post 9.05 earnings per share for the current fiscal year.

CDW Increases Dividend

The firm also recently announced 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. The ex-dividend date of this dividend is Monday, November 25th. This is an increase from CDW’s previous quarterly dividend of $0.62. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.41%. CDW’s payout ratio is 30.32%.

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.