Proficio Capital Partners LLC Has $847,000 Holdings in CDW Co. (NASDAQ:CDW)

Proficio Capital Partners LLC cut its position in CDW Co. (NASDAQ:CDW) by 6.4% during the third quarter, Holdings Channel.com reports. The institutional investor owned 3,743 shares of the information technology services provider’s stock after selling 257 shares during the quarter. Proficio Capital Partners LLC’s holdings in CDW were worth $847,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CDW. RDA Financial Network raised its stake in shares of CDW by 3.0% in the second quarter. RDA Financial Network now owns 1,587 shares of the information technology services provider’s stock worth $355,000 after acquiring an additional 46 shares during the last quarter. PDS Planning Inc raised 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 worth $268,000 after buying an additional 49 shares during the last quarter. Oregon Public Employees Retirement Fund raised 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 worth $2,583,000 after buying an additional 54 shares during the last quarter. Profund Advisors LLC raised its stake in shares of CDW by 0.5% during the second quarter. Profund Advisors LLC now owns 12,469 shares of the information technology services provider’s stock worth $2,791,000 after buying an additional 58 shares during the last quarter. Finally, Elo Mutual Pension Insurance Co raised its stake in shares of CDW by 0.5% during the second 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 last quarter. 93.15% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on CDW. Barclays dropped their price target 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. Citigroup downgraded shares of CDW from a “buy” rating to a “neutral” rating and lowered their target price for the company from $250.00 to $245.00 in a research note on Tuesday, October 1st. Stifel Nicolaus upped their target price on shares of CDW from $250.00 to $260.00 and gave the company a “buy” rating in a research note on Wednesday, July 17th. Finally, JPMorgan Chase & Co. downgraded shares of CDW from an “overweight” rating to a “neutral” rating and lowered their target price for the company from $260.00 to $235.00 in a research note on Monday, October 28th. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, CDW presently has a consensus rating of “Hold” and an average target price of $246.71.

CDW Stock Performance

Shares of CDW opened at $199.87 on Friday. CDW Co. has a 12 month low of $187.73 and a 12 month high of $263.37. The firm has a fifty day simple moving average of $216.50 and a 200 day simple moving average of $221.86. The stock has a market capitalization of $26.63 billion, a price-to-earnings ratio of 24.43, a PEG ratio of 5.66 and a beta of 1.05. The company has a current ratio of 1.40, a quick ratio of 1.28 and a debt-to-equity ratio of 2.39.

CDW (NASDAQ:CDW) last announced its 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 return on equity of 58.31% and a net margin of 5.33%. The business had revenue of $5.52 billion for the quarter, compared to analyst estimates of $5.72 billion. During the same quarter in the previous year, the company posted $2.60 EPS. The business’s revenue for the quarter was down 2.0% compared to the same quarter last year. Research analysts forecast that CDW Co. will post 9.05 EPS 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 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 1.25%. This is a boost from CDW’s previous quarterly dividend of $0.62. CDW’s dividend payout ratio (DPR) is currently 30.32%.

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.