KBC Group NV Sells 29,413 Shares of CDW Co. (NASDAQ:CDW)

KBC Group NV lessened its holdings in shares of CDW Co. (NASDAQ:CDW) by 49.7% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 29,759 shares of the information technology services provider’s stock after selling 29,413 shares during the quarter. KBC Group NV’s holdings in CDW were worth $6,734,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of CDW. RDA Financial Network boosted its holdings in CDW by 3.0% during the 2nd quarter. RDA Financial Network now owns 1,587 shares of the information technology services provider’s stock valued at $355,000 after acquiring an additional 46 shares during the period. PDS Planning Inc boosted its stake in shares of CDW by 4.3% during the third quarter. PDS Planning Inc now owns 1,186 shares of the information technology services provider’s stock valued at $268,000 after purchasing an additional 49 shares during the period. Oregon Public Employees Retirement Fund boosted its stake in shares of CDW by 0.5% during the second quarter. Oregon Public Employees Retirement Fund now owns 11,541 shares of the information technology services provider’s stock valued at $2,583,000 after purchasing an additional 54 shares during the period. Profund Advisors LLC grew its holdings in shares of CDW by 0.5% in the second quarter. Profund Advisors LLC now owns 12,469 shares of the information technology services provider’s stock worth $2,791,000 after purchasing an additional 58 shares during the last quarter. Finally, Elo Mutual Pension Insurance Co increased its stake in CDW by 0.5% in the 2nd quarter. Elo Mutual Pension Insurance Co now owns 12,301 shares of the information technology services provider’s stock worth $2,753,000 after buying an additional 61 shares during the period. Institutional investors own 93.15% of the company’s stock.

CDW Price Performance

Shares of CDW stock opened at $177.63 on Friday. The company has a market cap of $23.67 billion, a P/E ratio of 21.72, a PEG ratio of 5.19 and a beta of 1.05. The company has a debt-to-equity ratio of 2.39, a current ratio of 1.40 and a quick ratio of 1.28. The stock’s 50-day moving average is $213.49 and its 200 day moving average is $219.90. CDW Co. has a 1-year low of $175.94 and a 1-year high of $263.37.

CDW (NASDAQ:CDW) last released its quarterly earnings results on Wednesday, October 30th. The information technology services provider reported $2.63 earnings per share for the quarter, missing analysts’ consensus estimates of $2.68 by ($0.05). The firm had revenue of $5.52 billion during the quarter, compared to the consensus estimate 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 quarter in the prior year, the business posted $2.60 earnings per share. Research analysts predict that CDW Co. will post 9.05 earnings per share for the current fiscal year.

CDW Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Monday, November 25th will be issued a $0.625 dividend. This is a positive change from CDW’s previous quarterly dividend of $0.62. This represents a $2.50 annualized dividend and a yield of 1.41%. The ex-dividend date of this dividend is Monday, November 25th. CDW’s payout ratio is currently 30.56%.

Analyst Ratings Changes

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

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.