Navellier & Associates Inc. Sells 527 Shares of CDW Co. (NASDAQ:CDW)

Navellier & Associates Inc. reduced its position in shares of CDW Co. (NASDAQ:CDW) by 4.3% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 11,714 shares of the information technology services provider’s stock after selling 527 shares during the quarter. Navellier & Associates Inc.’s holdings in CDW were worth $2,651,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Lake Street Advisors Group LLC grew its stake in CDW by 12.9% in the first quarter. Lake Street Advisors Group LLC now owns 1,109 shares of the information technology services provider’s stock valued at $284,000 after purchasing an additional 127 shares during the last quarter. CANADA LIFE ASSURANCE Co boosted its stake in CDW by 47.4% in the first quarter. CANADA LIFE ASSURANCE Co now owns 110,782 shares of the information technology services provider’s stock valued at $28,365,000 after acquiring an additional 35,613 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of CDW during the first quarter worth $344,000. Pitcairn Co. acquired a new stake in shares of CDW in the 1st quarter worth $223,000. Finally, CreativeOne Wealth LLC increased its position in CDW by 24.2% during the 1st quarter. CreativeOne Wealth LLC now owns 1,420 shares of the information technology services provider’s stock valued at $363,000 after buying an additional 277 shares in the last quarter. Hedge funds and other institutional investors own 93.15% of the company’s stock.

CDW Price Performance

Shares of CDW opened at $176.96 on Thursday. The business’s 50-day moving average is $211.13 and its two-hundred day moving average is $219.03. The company has a market capitalization of $23.58 billion, a P/E ratio of 21.51, a P/E/G ratio of 4.86 and a beta of 1.05. CDW Co. has a fifty-two week low of $172.95 and a fifty-two week 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.

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). The firm had revenue of $5.52 billion for 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 firm’s quarterly revenue was down 2.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.60 EPS. Research analysts predict that CDW Co. will post 9.05 earnings per share for the current year.

CDW Increases Dividend

The business 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. The ex-dividend date is Monday, November 25th. This represents a $2.50 dividend on an annualized basis and a yield of 1.41%. This is a boost from CDW’s previous quarterly dividend of $0.62. CDW’s dividend payout ratio (DPR) is currently 30.32%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Citigroup lowered CDW from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $250.00 to $245.00 in a research note on Tuesday, October 1st. JPMorgan Chase & Co. lowered 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 research note on Monday, October 28th. Barclays dropped their price objective on shares of CDW from $229.00 to $201.00 and set an “equal weight” rating on the stock in a report on Thursday, October 31st. Finally, Redburn Atlantic began coverage on CDW in a research note on Friday, November 15th. They issued a “buy” rating and a $230.00 target price for the company. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, CDW presently has a consensus rating of “Moderate Buy” and an average target price of $244.63.

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.