Crescent Grove Advisors LLC Has $24.11 Million Stake in CDW Co. (NASDAQ:CDW)

Crescent Grove Advisors LLC decreased its stake in shares of CDW Co. (NASDAQ:CDW) by 0.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 138,547 shares of the information technology services provider’s stock after selling 401 shares during the period. CDW makes up 2.4% of Crescent Grove Advisors LLC’s investment portfolio, making the stock its 7th largest holding. Crescent Grove Advisors LLC owned approximately 0.10% of CDW worth $24,113,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. AEGON ASSET MANAGEMENT UK Plc bought a new position in CDW in the fourth quarter worth $7,527,000. Benin Management CORP grew its position in shares of CDW by 31.9% in the 4th quarter. Benin Management CORP now owns 3,168 shares of the information technology services provider’s stock worth $551,000 after buying an additional 767 shares during the period. Exchange Traded Concepts LLC increased its stake in shares of CDW by 34.8% in the 4th quarter. Exchange Traded Concepts LLC now owns 3,232 shares of the information technology services provider’s stock worth $562,000 after acquiring an additional 834 shares in the last quarter. Hengehold Capital Management LLC lifted its position in CDW by 11.1% during the 4th quarter. Hengehold Capital Management LLC now owns 1,328 shares of the information technology services provider’s stock valued at $231,000 after acquiring an additional 133 shares during the period. Finally, Janney Montgomery Scott LLC boosted its stake in CDW by 0.9% during the fourth quarter. Janney Montgomery Scott LLC now owns 38,893 shares of the information technology services provider’s stock worth $6,769,000 after acquiring an additional 348 shares in the last quarter. Hedge funds and other institutional investors own 93.15% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Barclays reduced their price target on CDW from $229.00 to $201.00 and set an “equal weight” rating for the company in a report on Thursday, October 31st. Morgan Stanley raised their price objective on shares of CDW from $190.00 to $193.00 and gave the company an “equal weight” rating in a research note on Monday, December 16th. Citigroup downgraded shares of CDW from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $250.00 to $245.00 in a research note on Tuesday, October 1st. Redburn Atlantic initiated coverage on shares of CDW in a research report on Friday, November 15th. They set a “buy” rating and a $230.00 price target for the company. Finally, UBS Group lowered their price objective on CDW from $233.00 to $220.00 and set a “buy” rating on the stock in a research report on Tuesday, January 7th. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, CDW currently has an average rating of “Moderate Buy” and an average price target of $239.33.

CDW Trading Down 1.2 %

Shares of CDW stock opened at $195.13 on Friday. The stock has a fifty day simple moving average of $179.79 and a two-hundred day simple moving average of $204.45. CDW Co. has a 52-week low of $168.43 and a 52-week high of $263.37. The firm has a market capitalization of $26.00 billion, a PE ratio of 23.85, a PEG ratio of 5.26 and a beta of 1.01. The company has a debt-to-equity ratio of 2.39, a quick ratio of 1.28 and a current ratio of 1.40.

CDW (NASDAQ:CDW) last announced 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 company had revenue of $5.52 billion for the quarter, compared to analysts’ expectations of $5.72 billion. During the same period last year, the business earned $2.60 earnings per share. The company’s quarterly revenue was down 2.0% compared to the same quarter last year. On average, analysts predict that CDW Co. will post 8.99 EPS for the current fiscal year.

CDW Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Monday, November 25th were issued a dividend of $0.625 per share. This represents a $2.50 annualized dividend and a yield of 1.28%. The ex-dividend date was Monday, November 25th. This is a boost from CDW’s previous quarterly dividend of $0.62. CDW’s dividend payout ratio (DPR) is currently 30.56%.

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.