Logan Capital Management Inc. Sells 80 Shares of CDW Co. (NASDAQ:CDW)

Logan Capital Management Inc. lessened its holdings in CDW Co. (NASDAQ:CDW) by 0.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 29,233 shares of the information technology services provider’s stock after selling 80 shares during the quarter. Logan Capital Management Inc.’s holdings in CDW were worth $6,615,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in CDW. ORG Partners LLC bought a new stake in CDW in the second quarter valued at about $34,000. Quest Partners LLC bought a new position in CDW during the second quarter worth about $35,000. Canoe Financial LP acquired a new stake in CDW during the third quarter valued at approximately $37,000. Fortitude Family Office LLC grew its stake in shares of CDW by 350.0% in the 3rd 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 period. Finally, Summit Securities Group LLC acquired a new position in shares of CDW in the 2nd quarter worth approximately $40,000. Institutional investors and hedge funds own 93.15% of the company’s stock.

Analyst Upgrades and Downgrades

CDW has been the topic of several recent analyst reports. Barclays decreased their price target on CDW from $229.00 to $201.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 31st. Redburn Atlantic started coverage on shares of CDW in a research note on Friday, November 15th. They issued a “buy” rating and a $230.00 target price on the stock. Citigroup cut shares of CDW from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $250.00 to $245.00 in a research report on Tuesday, October 1st. Finally, JPMorgan Chase & Co. downgraded shares of CDW from an “overweight” rating to a “neutral” rating and cut their price target for the company from $260.00 to $235.00 in a report on Monday, October 28th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $248.71.

CDW Price Performance

NASDAQ CDW traded down $1.01 on Friday, hitting $177.04. 59,188 shares of the company were exchanged, compared to its average volume of 919,077. The company has a current ratio of 1.40, a quick ratio of 1.28 and a debt-to-equity ratio of 2.39. The company has a market cap of $23.59 billion, a P/E ratio of 21.77, a P/E/G ratio of 5.01 and a beta of 1.02. CDW Co. has a 1-year low of $172.95 and a 1-year high of $263.37. The firm has a 50 day moving average of $197.04 and a two-hundred day moving average of $213.89.

CDW (NASDAQ:CDW) last released its quarterly earnings results 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). CDW had a net margin of 5.33% and a return on equity of 58.31%. The company had revenue of $5.52 billion for the quarter, compared to the consensus estimate of $5.72 billion. During the same period last year, the company earned $2.60 earnings per share. CDW’s revenue for the quarter was down 2.0% compared to the same quarter last year. On average, equities analysts predict that CDW Co. will post 8.99 EPS for the current year.

CDW Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Monday, November 25th were issued a $0.625 dividend. This is a boost from CDW’s previous quarterly dividend of $0.62. The ex-dividend date of this dividend was Monday, November 25th. This represents a $2.50 annualized dividend and a yield of 1.41%. CDW’s dividend payout ratio (DPR) is currently 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.