CDW Co. (NASDAQ:CDW) Shares Sold by Hixon Zuercher LLC

Hixon Zuercher LLC reduced its stake in shares of CDW Co. (NASDAQ:CDW) by 12.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 5,479 shares of the information technology services provider’s stock after selling 757 shares during the quarter. Hixon Zuercher LLC’s holdings in CDW were worth $954,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Mediolanum International Funds Ltd raised its stake in shares of CDW by 53.4% during the 4th quarter. Mediolanum International Funds Ltd now owns 31,336 shares of the information technology services provider’s stock worth $5,419,000 after buying an additional 10,902 shares during the last quarter. Milestone Asset Management LLC lifted its holdings in shares of CDW by 77.0% in the fourth quarter. Milestone Asset Management LLC now owns 9,555 shares of the information technology services provider’s stock valued at $1,663,000 after purchasing an additional 4,156 shares in the last quarter. Robeco Institutional Asset Management B.V. grew its position in shares of CDW by 9.7% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 18,471 shares of the information technology services provider’s stock valued at $3,215,000 after purchasing an additional 1,629 shares during the last quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO increased its stake in shares of CDW by 57.3% during the 4th quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO now owns 12,714 shares of the information technology services provider’s stock worth $2,213,000 after purchasing an additional 4,630 shares in the last quarter. Finally, KBC Group NV increased its stake in shares of CDW by 3.3% during the 4th quarter. KBC Group NV now owns 30,753 shares of the information technology services provider’s stock worth $5,352,000 after purchasing an additional 994 shares in the last quarter. 93.15% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on CDW shares. UBS Group lowered their target price on CDW from $233.00 to $220.00 and set a “buy” rating on the stock in a report on Tuesday, January 7th. JPMorgan Chase & Co. cut CDW from an “overweight” rating to a “neutral” rating and dropped their price objective for the stock from $260.00 to $235.00 in a research report on Monday, October 28th. Redburn Atlantic started coverage on shares of CDW in a report on Friday, November 15th. They issued a “buy” rating and a $230.00 target price on the stock. Morgan Stanley lifted their price target on shares of CDW from $190.00 to $193.00 and gave the stock an “equal weight” rating in a report on Monday, December 16th. Finally, Barclays reduced their price objective 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. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $239.33.

CDW Price Performance

CDW stock opened at $197.76 on Friday. CDW Co. has a 1 year low of $168.43 and a 1 year high of $263.37. The company has a debt-to-equity ratio of 2.39, a quick ratio of 1.28 and a current ratio of 1.40. The firm has a 50 day moving average price of $181.31 and a 200 day moving average price of $203.80. The company has a market cap of $26.35 billion, a price-to-earnings ratio of 24.18, a PEG ratio of 5.26 and a beta of 1.01.

CDW (NASDAQ:CDW) last announced its quarterly earnings data on Wednesday, October 30th. The information technology services provider reported $2.63 earnings per share (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 analysts’ expectations of $5.72 billion. CDW had a net margin of 5.33% and a return on equity of 58.31%. The firm’s quarterly revenue was down 2.0% on a year-over-year basis. During the same period in the prior year, the firm earned $2.60 earnings per share. Sell-side analysts predict that CDW Co. will post 8.99 earnings per share for the current year.

CDW Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders 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 1.26%. The ex-dividend date was Monday, November 25th. This is an increase from CDW’s previous quarterly dividend of $0.62. CDW’s payout ratio is 30.56%.

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.