Chesley Taft & Associates LLC Sells 975 Shares of CDW Co. (NASDAQ:CDW)

Chesley Taft & Associates LLC decreased its position in CDW Co. (NASDAQ:CDW) by 17.8% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 4,517 shares of the information technology services provider’s stock after selling 975 shares during the period. Chesley Taft & Associates LLC’s holdings in CDW were worth $786,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of CDW. Canoe Financial LP acquired a new stake in shares of CDW in the third quarter valued at about $37,000. Fortitude Family Office LLC grew its stake in CDW by 350.0% in 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 position in shares of CDW during the 3rd quarter worth approximately $43,000. Covestor Ltd raised its stake in shares of CDW by 80.1% during the 3rd 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 stake in shares of CDW in the 2nd quarter valued at approximately $56,000. Institutional investors and hedge funds own 93.15% of the company’s stock.

CDW Trading Up 1.5 %

Shares of NASDAQ:CDW opened at $191.59 on Wednesday. CDW Co. has a 12-month low of $168.43 and a 12-month high of $263.37. The business has a 50 day moving average of $178.94 and a 200-day moving average of $204.80. 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 $25.53 billion, a PE ratio of 23.42, a P/E/G ratio of 5.11 and a beta of 1.01.

CDW (NASDAQ:CDW) last issued its quarterly earnings data on Wednesday, October 30th. The information technology services provider reported $2.63 EPS for the quarter, missing analysts’ consensus estimates of $2.68 by ($0.05). The firm had revenue of $5.52 billion during the quarter, compared to analyst estimates of $5.72 billion. CDW had a net margin of 5.33% and a return on equity of 58.31%. The business’s quarterly revenue was down 2.0% compared to the same quarter last year. During the same period in the prior year, the company earned $2.60 earnings per share. As a group, equities research analysts forecast that CDW Co. will post 8.99 earnings per share for the current year.

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 given a dividend of $0.625 per share. This represents a $2.50 dividend on an annualized basis and a yield of 1.30%. This is a positive change from CDW’s previous quarterly dividend of $0.62. The ex-dividend date was Monday, November 25th. CDW’s dividend payout ratio (DPR) is currently 30.56%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on CDW. JPMorgan Chase & Co. downgraded 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. Morgan Stanley boosted their price objective on shares of CDW from $190.00 to $193.00 and gave the stock an “equal weight” rating in a research note on Monday, December 16th. Barclays cut their target price on shares of 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 started coverage on CDW in a research report on Friday, November 15th. They set a “buy” rating and a $230.00 price target on the stock. Finally, UBS Group cut their price objective on CDW from $233.00 to $220.00 and set a “buy” rating for the company in a research report on Tuesday, January 7th. 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 company has a consensus rating of “Moderate Buy” and an average price target of $239.33.

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.