Stock Yards Bank & Trust Co. Sells 285 Shares of CDW Co. (NASDAQ:CDW)

Stock Yards Bank & Trust Co. lowered its stake in CDW Co. (NASDAQ:CDW) by 5.2% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 5,164 shares of the information technology services provider’s stock after selling 285 shares during the quarter. Stock Yards Bank & Trust Co.’s holdings in CDW were worth $899,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the stock. Canoe Financial LP bought a new stake in shares of CDW during the 3rd quarter valued at about $37,000. Fortitude Family Office LLC boosted its holdings in shares of CDW by 350.0% during the 3rd quarter. Fortitude Family Office LLC now owns 171 shares of the information technology services provider’s stock worth $39,000 after buying an additional 133 shares in the last quarter. Ashton Thomas Securities LLC acquired a new stake in shares of CDW during the 3rd quarter worth approximately $43,000. Covestor Ltd increased its stake in shares of CDW by 80.1% in the 3rd quarter. Covestor Ltd now owns 245 shares of the information technology services provider’s stock valued at $55,000 after acquiring an additional 109 shares in the last quarter. Finally, Brooklyn Investment Group acquired a new position in shares of CDW during the 3rd quarter valued at $90,000. 93.15% of the stock is owned by institutional investors and hedge funds.

CDW Stock Performance

Shares of CDW stock opened at $198.44 on Tuesday. CDW Co. has a one year low of $168.43 and a one year high of $263.37. The company has a market cap of $26.44 billion, a P/E ratio of 24.26, a P/E/G ratio of 5.39 and a beta of 1.01. The firm has a 50-day moving average of $182.06 and a 200-day moving average of $202.83. The company has a debt-to-equity ratio of 2.39, a current ratio of 1.40 and a quick ratio of 1.28.

CDW Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Monday, November 25th were paid a $0.625 dividend. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.26%. The ex-dividend date of this dividend was Monday, November 25th. This is an increase from CDW’s previous quarterly dividend of $0.62. CDW’s payout ratio is presently 30.56%.

Wall Street Analyst Weigh In

CDW has been the subject of several research analyst reports. Morgan Stanley lifted their price target 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. Barclays dropped their price target on CDW from $229.00 to $201.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 31st. Redburn Atlantic started coverage on CDW in a report on Friday, November 15th. They set a “buy” rating and a $230.00 price objective for the company. UBS Group cut their target price on CDW from $233.00 to $220.00 and set a “buy” rating on the stock in a report on Tuesday, January 7th. Finally, JPMorgan Chase & Co. lowered shares of 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. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $239.33.

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.