CDW Co. (NASDAQ:CDW) Shares Sold by Gulf International Bank UK Ltd

Gulf International Bank UK Ltd lessened its holdings in CDW Co. (NASDAQ:CDW) by 4.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 10,651 shares of the information technology services provider’s stock after selling 462 shares during the quarter. Gulf International Bank UK Ltd’s holdings in CDW were worth $2,410,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of CDW. Catalyst Capital Advisors LLC raised its holdings in shares of CDW by 229.3% during the third quarter. Catalyst Capital Advisors LLC now owns 438 shares of the information technology services provider’s stock worth $99,000 after purchasing an additional 305 shares during the last quarter. Impax Asset Management Group plc grew its position in CDW by 6.0% during the 3rd quarter. Impax Asset Management Group plc now owns 33,653 shares of the information technology services provider’s stock worth $7,616,000 after purchasing an additional 1,902 shares during the period. PDS Planning Inc raised its stake in shares of CDW by 4.3% during the 3rd quarter. PDS Planning Inc now owns 1,186 shares of the information technology services provider’s stock valued at $268,000 after buying an additional 49 shares during the last quarter. National Pension Service lifted its holdings in shares of CDW by 0.9% in the 3rd quarter. National Pension Service now owns 207,541 shares of the information technology services provider’s stock valued at $46,967,000 after buying an additional 1,796 shares during the period. Finally, Intact Investment Management Inc. purchased a new stake in shares of CDW in the third quarter worth about $543,000. 93.15% of the stock is owned by hedge funds and other institutional investors.

CDW Stock Performance

NASDAQ:CDW opened at $202.79 on Thursday. 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 stock has a market capitalization of $27.02 billion, a PE ratio of 24.79, a P/E/G ratio of 5.07 and a beta of 1.05. CDW Co. has a fifty-two week low of $187.73 and a fifty-two week high of $263.37. The company has a fifty day moving average of $217.42 and a two-hundred day moving average of $222.39.

CDW (NASDAQ:CDW) last released 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 firm’s revenue for the quarter was down 2.0% on a year-over-year basis. During the same period in the prior year, the firm earned $2.60 EPS. As a group, research analysts forecast that CDW Co. will post 9.38 earnings per share for the current fiscal year.

CDW Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Monday, November 25th will be given a $0.625 dividend. This represents a $2.50 annualized dividend and a dividend yield of 1.23%. The ex-dividend date of this dividend is Monday, November 25th. This is an increase from CDW’s previous quarterly dividend of $0.62. CDW’s dividend payout ratio (DPR) is 30.32%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on CDW shares. Barclays decreased 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. JPMorgan Chase & Co. cut shares of CDW from an “overweight” rating to a “neutral” rating and decreased their target price for the company from $260.00 to $235.00 in a research note on Monday, October 28th. Citigroup lowered shares of CDW from a “buy” rating to a “neutral” rating and dropped their price target for the company from $250.00 to $245.00 in a research report on Tuesday, October 1st. Finally, Stifel Nicolaus increased their target price on shares of CDW from $250.00 to $260.00 and gave the stock a “buy” rating in a research note on Wednesday, July 17th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $246.71.

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.