Natixis Advisors LLC Sells 609 Shares of CDW Co. (NASDAQ:CDW)

by · The Cerbat Gem

Natixis Advisors LLC lessened its holdings in CDW Co. (NASDAQ:CDW – Free Report) by 0.2% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 259,875 shares of the information technology services provider’s stock after selling 609 shares during the period. Natixis Advisors LLC owned approximately 0.20% of CDW worth $58,810,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. Quest Partners LLC bought a new stake in CDW in the second quarter worth about $35,000. ORG Partners LLC purchased a new position in CDW in the second quarter valued at approximately $34,000. Canoe Financial LP purchased a new position in CDW in the third quarter valued at approximately $37,000. Fortitude Family Office LLC grew its holdings 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 period. Finally, Summit Securities Group LLC bought a new stake in shares of CDW in the second quarter valued at $40,000. 93.15% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. Redburn Atlantic started coverage on CDW in a research note on Friday. They set a “buy” rating and a $230.00 price target for the company. Barclays reduced their target price on shares of CDW from $229.00 to $201.00 and set an “equal weight” rating for the company in a research note on Thursday, October 31st. JPMorgan Chase & Co. cut shares of CDW from an “overweight” rating to a “neutral” rating and dropped their price target for the company from $260.00 to $235.00 in a research note on Monday, October 28th. Finally, Citigroup lowered shares of CDW from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $250.00 to $245.00 in a research note on Tuesday, October 1st. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, CDW has an average rating of “Moderate Buy” and an average price target of $244.63.

Get Our Latest Stock Analysis on CDW

CDW Stock Down 1.7 %

CDW opened at $177.63 on Friday. The firm has a market capitalization of $23.67 billion, a P/E ratio of 21.72, a price-to-earnings-growth ratio of 5.19 and a beta of 1.05. CDW Co. has a one year low of $175.94 and a one year high of $263.37. The company has a fifty day moving average price of $213.49 and a 200-day moving average price of $219.90. The company has a debt-to-equity ratio of 2.39, a current ratio of 1.40 and a quick ratio of 1.28.

CDW (NASDAQ:CDW – Get Free Report) last announced its 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 business had revenue of $5.52 billion during the quarter, compared to the consensus estimate of $5.72 billion. CDW had a return on equity of 58.31% and a net margin of 5.33%. CDW’s revenue was down 2.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.60 earnings per share. Equities research analysts expect that CDW Co. will post 9.05 earnings per share for the current fiscal year.

CDW Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Monday, November 25th will be given a dividend of $0.625 per share. The ex-dividend date of this dividend is Monday, November 25th. 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%. CDW’s payout ratio is presently 30.56%.

About CDW

(Free Report)

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.

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