Horizon Bancorp Inc. IN Has $122,000 Holdings in CDW Co. (NASDAQ:CDW)

Horizon Bancorp Inc. IN lowered its position in shares of CDW Co. (NASDAQ:CDW) by 10.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 703 shares of the information technology services provider’s stock after selling 78 shares during the period. Horizon Bancorp Inc. IN’s holdings in CDW were worth $122,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. PDS Planning Inc increased its stake in CDW by 4.3% in the third quarter. PDS Planning Inc now owns 1,186 shares of the information technology services provider’s stock valued at $268,000 after acquiring an additional 49 shares during the last quarter. Profund Advisors LLC raised its position in CDW by 0.5% in the second quarter. Profund Advisors LLC now owns 12,469 shares of the information technology services provider’s stock valued at $2,791,000 after purchasing an additional 58 shares during the last quarter. OneAscent Wealth Management LLC increased its stake in shares of CDW by 2.5% in the third quarter. OneAscent Wealth Management LLC now owns 2,387 shares of the information technology services provider’s stock valued at $540,000 after buying an additional 58 shares during the period. Fulcrum Equity Management boosted its position in CDW by 4.3% during the 3rd quarter. Fulcrum Equity Management now owns 1,442 shares of the information technology services provider’s stock worth $326,000 after buying an additional 60 shares during the period. Finally, Elo Mutual Pension Insurance Co increased its position 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 valued at $2,753,000 after acquiring an additional 61 shares during the period. 93.15% of the stock is owned by institutional investors and hedge funds.

CDW Price Performance

Shares of NASDAQ:CDW opened at $180.92 on Tuesday. The stock’s 50 day moving average is $180.30 and its 200-day moving average is $206.40. CDW Co. has a twelve month low of $168.43 and a twelve month high of $263.37. The company has a quick ratio of 1.28, a current ratio of 1.40 and a debt-to-equity ratio of 2.39. The firm has a market capitalization of $24.11 billion, a price-to-earnings ratio of 22.12, a PEG ratio of 5.01 and a beta of 1.01.

CDW (NASDAQ:CDW) last issued its quarterly earnings data on Wednesday, October 30th. The information technology services provider reported $2.63 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.68 by ($0.05). CDW had a net margin of 5.33% and a return on equity of 58.31%. 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 prior year, the business earned $2.60 earnings per share. The firm’s quarterly revenue was down 2.0% compared to the same quarter last year. Sell-side analysts forecast that CDW Co. will post 8.99 EPS for the current fiscal year.

CDW Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Monday, November 25th were given a $0.625 dividend. This is a positive change from CDW’s previous quarterly dividend of $0.62. This represents a $2.50 dividend on an annualized basis and a yield of 1.38%. The ex-dividend date of this dividend was Monday, November 25th. CDW’s dividend payout ratio is presently 30.56%.

Analyst Ratings Changes

Several brokerages have recently weighed in on CDW. JPMorgan Chase & Co. cut CDW from an “overweight” rating to a “neutral” rating and decreased their price target for the company from $260.00 to $235.00 in a research note on Monday, October 28th. Citigroup cut shares of CDW from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $250.00 to $245.00 in a research report on Tuesday, October 1st. Morgan Stanley upped their price target on shares of CDW from $190.00 to $193.00 and gave the company an “equal weight” rating in a research report on Monday, December 16th. Barclays lowered their price objective on CDW from $229.00 to $201.00 and set an “equal weight” rating for the company in a research report on Thursday, October 31st. Finally, Redburn Atlantic assumed coverage on CDW in a research report on Friday, November 15th. They set a “buy” rating and a $230.00 target price on the stock. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $239.33.

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.