CDW Co. (NASDAQ:CDW) Holdings Decreased by Mader & Shannon Wealth Management Inc.

Mader & Shannon Wealth Management Inc. reduced its position in CDW Co. (NASDAQ:CDW) by 5.3% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 32,469 shares of the information technology services provider’s stock after selling 1,808 shares during the period. CDW accounts for about 4.3% of Mader & Shannon Wealth Management Inc.’s holdings, making the stock its 10th largest holding. Mader & Shannon Wealth Management Inc.’s holdings in CDW were worth $7,348,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Cerity Partners LLC increased its holdings in CDW by 18.9% in the 3rd quarter. Cerity Partners LLC now owns 39,301 shares of the information technology services provider’s stock valued at $8,894,000 after purchasing an additional 6,235 shares in the last quarter. Nicolet Advisory Services LLC increased its holdings in CDW by 4.8% in the 3rd quarter. Nicolet Advisory Services LLC now owns 3,328 shares of the information technology services provider’s stock valued at $726,000 after purchasing an additional 153 shares in the last quarter. Studio Investment Management LLC increased its holdings in CDW by 4.3% in the 3rd quarter. Studio Investment Management LLC now owns 1,951 shares of the information technology services provider’s stock valued at $442,000 after purchasing an additional 81 shares in the last quarter. Raymond James Trust N.A. increased its holdings in CDW by 4.0% in the 3rd quarter. Raymond James Trust N.A. now owns 2,197 shares of the information technology services provider’s stock valued at $497,000 after purchasing an additional 85 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in CDW by 1.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 775,240 shares of the information technology services provider’s stock valued at $175,437,000 after purchasing an additional 7,764 shares in the last quarter. 93.15% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on CDW shares. Citigroup downgraded CDW from a “buy” rating to a “neutral” rating and lowered their price target for the company from $250.00 to $245.00 in a report on Tuesday, October 1st. Barclays lowered their price target on CDW from $229.00 to $201.00 and set an “equal weight” rating for the company in a report on Thursday, October 31st. Redburn Atlantic started coverage on CDW in a report on Friday, November 15th. They issued a “buy” rating and a $230.00 price target for the company. Finally, JPMorgan Chase & Co. downgraded CDW from an “overweight” rating to a “neutral” rating and lowered their target price for the company 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 four have issued 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 $244.63.

CDW Stock Up 0.4 %

Shares of CDW stock opened at $178.96 on Friday. The business has a 50-day moving average of $209.49 and a 200-day moving average of $218.45. The company has a debt-to-equity ratio of 2.39, a current ratio of 1.40 and a quick ratio of 1.28. The company has a market capitalization of $23.85 billion, a PE ratio of 21.88, a P/E/G ratio of 4.97 and a beta of 1.05. CDW Co. has a 1-year low of $172.95 and a 1-year high of $263.37.

CDW (NASDAQ:CDW) last posted its quarterly earnings results 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 return on equity of 58.31% and a net margin of 5.33%. The firm’s revenue for the quarter was down 2.0% on a year-over-year basis. During the same quarter last year, the business posted $2.60 earnings per share. As a group, equities analysts forecast that CDW Co. will post 9.05 EPS for the current fiscal year.

CDW Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Monday, November 25th will be paid a $0.625 dividend. This represents a $2.50 dividend on an annualized basis and a yield of 1.40%. This is an increase from CDW’s previous quarterly dividend of $0.62. The ex-dividend date is Monday, November 25th. CDW’s dividend payout ratio (DPR) is 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.