Angeles Investment Advisors LLC Sells 94 Shares of CDW Co. (NASDAQ:CDW)

Angeles Investment Advisors LLC trimmed its stake in shares of CDW Co. (NASDAQ:CDW) by 9.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 911 shares of the information technology services provider’s stock after selling 94 shares during the quarter. Angeles Investment Advisors LLC’s holdings in CDW were worth $206,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Acadian Asset Management LLC grew its position in shares of CDW by 211.5% in the first quarter. Acadian Asset Management LLC now owns 44,205 shares of the information technology services provider’s stock valued at $11,302,000 after purchasing an additional 30,012 shares during the last quarter. Peak Financial Advisors LLC bought a new position in CDW during the 2nd quarter worth $2,854,000. M&G Plc acquired a new stake in shares of CDW during the first quarter worth $8,528,000. Virtu Financial LLC boosted its position in shares of CDW by 175.9% in the first quarter. Virtu Financial LLC now owns 7,115 shares of the information technology services provider’s stock valued at $1,820,000 after acquiring an additional 4,536 shares during the period. Finally, Ontario Teachers Pension Plan Board boosted its position in shares of CDW by 71.4% in the first quarter. Ontario Teachers Pension Plan Board now owns 8,075 shares of the information technology services provider’s stock valued at $2,065,000 after acquiring an additional 3,365 shares during the period. 93.15% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

CDW has been the subject of a number of analyst reports. JPMorgan Chase & Co. downgraded 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 report on Monday, October 28th. Citigroup cut CDW from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $250.00 to $245.00 in a report on Tuesday, October 1st. Barclays reduced their target price on CDW from $229.00 to $201.00 and set an “equal weight” rating on the stock in a report on Thursday, October 31st. Finally, Stifel Nicolaus boosted their price target on CDW from $250.00 to $260.00 and gave the company a “buy” rating in a research note on Wednesday, July 17th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $246.71.

CDW Stock Performance

Shares of CDW stock opened at $186.01 on Thursday. The stock has a market cap of $24.79 billion, a price-to-earnings ratio of 22.74, a P/E/G ratio of 5.35 and a beta of 1.05. CDW Co. has a twelve month low of $185.70 and a twelve month high of $263.37. The company’s fifty day moving average is $214.86 and its 200 day moving average is $220.81. 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 (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 net margin of 5.33% and a return on equity of 58.31%. The company had revenue of $5.52 billion during the quarter, compared to the consensus estimate of $5.72 billion. During the same quarter in the previous year, the company earned $2.60 earnings per share. The business’s revenue was down 2.0% on a year-over-year basis. Sell-side analysts forecast that CDW Co. will post 9.05 EPS for the current year.

CDW Increases Dividend

The firm also recently announced 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 an increase from CDW’s previous quarterly dividend of $0.62. This represents a $2.50 dividend on an annualized basis and a yield of 1.34%. The ex-dividend date is Monday, November 25th. CDW’s payout ratio is presently 30.32%.

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.