Crossmark Global Holdings Inc. Cuts Holdings in CDW Co. (NASDAQ:CDW)

Crossmark Global Holdings Inc. decreased its stake in shares of CDW Co. (NASDAQ:CDW) by 2.9% during the 4th quarter, Holdings Channel.com reports. The firm owned 10,302 shares of the information technology services provider’s stock after selling 312 shares during the period. Crossmark Global Holdings Inc.’s holdings in CDW were worth $1,793,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of CDW. Massachusetts Financial Services Co. MA purchased a new stake in CDW during the 3rd quarter worth about $416,111,000. Janus Henderson Group PLC increased its holdings in CDW by 7,029.1% during the 3rd quarter. Janus Henderson Group PLC now owns 1,466,597 shares of the information technology services provider’s stock worth $331,891,000 after purchasing an additional 1,446,025 shares during the period. Holocene Advisors LP purchased a new stake in CDW during the 3rd quarter worth about $172,217,000. Perpetual Ltd purchased a new stake in CDW during the 3rd quarter worth about $158,300,000. Finally, Assenagon Asset Management S.A. increased its holdings in CDW by 7,549.9% during the 4th quarter. Assenagon Asset Management S.A. now owns 256,271 shares of the information technology services provider’s stock worth $44,601,000 after purchasing an additional 252,921 shares during the period. Hedge funds and other institutional investors own 93.15% of the company’s stock.

CDW Stock Up 1.6 %

Shares of NASDAQ CDW opened at $197.49 on Friday. The stock has a market cap of $26.32 billion, a PE ratio of 24.14, a price-to-earnings-growth ratio of 5.18 and a beta of 1.01. The company has a quick ratio of 1.28, a current ratio of 1.40 and a debt-to-equity ratio of 2.39. CDW Co. has a 52-week low of $168.43 and a 52-week high of $263.37. The business has a 50-day moving average price of $179.44 and a 200 day moving average price of $204.68.

CDW (NASDAQ:CDW) last posted its quarterly earnings data 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). CDW had a return on equity of 58.31% and a net margin of 5.33%. The company had revenue of $5.52 billion for the quarter, compared to analyst estimates of $5.72 billion. During the same period in the previous year, the business posted $2.60 earnings per share. The firm’s revenue was down 2.0% compared to the same quarter last year. Equities research analysts forecast that CDW Co. will post 8.99 earnings per share for the current year.

CDW Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Monday, November 25th were given a dividend of $0.625 per share. This represents a $2.50 dividend on an annualized basis and a yield of 1.27%. This is a boost from CDW’s previous quarterly dividend of $0.62. The ex-dividend date of this dividend was Monday, November 25th. CDW’s dividend payout ratio (DPR) is presently 30.56%.

Analyst Ratings Changes

A number of research firms have recently commented on CDW. JPMorgan Chase & Co. downgraded CDW from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $260.00 to $235.00 in a report on Monday, October 28th. UBS Group dropped their price objective on CDW from $233.00 to $220.00 and set a “buy” rating on the stock in a report on Tuesday, January 7th. Barclays dropped their price objective on CDW from $229.00 to $201.00 and set an “equal weight” rating on the stock in a report on Thursday, October 31st. Morgan Stanley increased their price objective on CDW from $190.00 to $193.00 and gave the company an “equal weight” rating in a report on Monday, December 16th. Finally, Redburn Atlantic began coverage on CDW in a report on Friday, November 15th. They issued a “buy” rating and a $230.00 price objective on the stock. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $239.33.

CDW Company 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.