Clio Asset Management LLC Trims Holdings in CDW Co. (NASDAQ:CDW)

Clio Asset Management LLC decreased its stake in shares of CDW Co. (NASDAQ:CDW) by 2.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 73,017 shares of the information technology services provider’s stock after selling 1,763 shares during the quarter. CDW comprises about 9.4% of Clio Asset Management LLC’s portfolio, making the stock its 5th largest holding. Clio Asset Management LLC owned approximately 0.05% of CDW worth $12,708,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Canoe Financial LP bought a new position in shares of CDW during the 3rd quarter valued at approximately $37,000. Fortitude Family Office LLC lifted its position in CDW by 350.0% during 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 during the last quarter. Ashton Thomas Securities LLC bought a new position in CDW during the third quarter valued at $43,000. Covestor Ltd grew its stake in shares of CDW by 80.1% in the 3rd quarter. Covestor Ltd now owns 245 shares of the information technology services provider’s stock worth $55,000 after buying an additional 109 shares in the last quarter. Finally, Kimelman & Baird LLC bought a new stake in shares of CDW in the 2nd quarter worth about $56,000. 93.15% of the stock is owned by hedge funds and other institutional investors.

CDW Trading Down 1.2 %

NASDAQ CDW opened at $195.13 on Monday. CDW Co. has a 12 month low of $168.43 and a 12 month high of $263.37. The company’s 50-day moving average price is $179.79 and its 200-day moving average price is $204.35. The stock has a market cap of $26.00 billion, a PE ratio of 23.85, a PEG ratio of 5.26 and a beta of 1.01. The company has a current ratio of 1.40, a quick ratio of 1.28 and a debt-to-equity ratio of 2.39.

CDW (NASDAQ:CDW) last issued its 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 company had revenue of $5.52 billion for the quarter, compared to analysts’ expectations of $5.72 billion. CDW had a return on equity of 58.31% and a net margin of 5.33%. The business’s revenue was down 2.0% compared to the same quarter last year. During the same period last year, the business posted $2.60 earnings per share. Equities research analysts forecast that CDW Co. will post 8.99 earnings per share for the current year.

CDW Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Monday, November 25th were issued a $0.625 dividend. This represents a $2.50 annualized dividend and a dividend yield of 1.28%. This is a boost from CDW’s previous quarterly dividend of $0.62. The ex-dividend date of this dividend was Monday, November 25th. CDW’s dividend payout ratio is currently 30.56%.

Analysts Set New Price Targets

CDW has been the subject of a number of analyst reports. Citigroup downgraded shares of 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. JPMorgan Chase & Co. lowered CDW from an “overweight” rating to a “neutral” rating and lowered their price objective for the company from $260.00 to $235.00 in a research note on Monday, October 28th. Redburn Atlantic began coverage on CDW in a report on Friday, November 15th. They issued a “buy” rating and a $230.00 target price for the company. Barclays decreased their price target on CDW from $229.00 to $201.00 and set an “equal weight” rating on the stock in a report on Thursday, October 31st. Finally, UBS Group cut their price objective on shares of CDW from $233.00 to $220.00 and set a “buy” rating on the stock in a research report on Tuesday, January 7th. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $239.33.

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.