Bartlett & CO. Wealth Management LLC Sells 6,440 Shares of CDW Co. (NASDAQ:CDW)

Bartlett & CO. Wealth Management LLC lessened its holdings in CDW Co. (NASDAQ:CDW) by 3.1% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 198,678 shares of the information technology services provider’s stock after selling 6,440 shares during the quarter. Bartlett & CO. Wealth Management LLC owned approximately 0.15% of CDW worth $34,578,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Canoe Financial LP bought a new position in CDW in the third quarter worth approximately $37,000. Fortitude Family Office LLC raised its holdings in shares of CDW by 350.0% in the third quarter. Fortitude Family Office LLC now owns 171 shares of the information technology services provider’s stock valued at $39,000 after acquiring an additional 133 shares in the last quarter. Ashton Thomas Securities LLC purchased a new stake in CDW in the third quarter worth about $43,000. Covestor Ltd grew its holdings in CDW by 80.1% during the 3rd quarter. Covestor Ltd now owns 245 shares of the information technology services provider’s stock worth $55,000 after acquiring an additional 109 shares in the last quarter. Finally, Kimelman & Baird LLC purchased a new position in CDW during the 2nd quarter valued at about $56,000. Hedge funds and other institutional investors own 93.15% of the company’s stock.

CDW Trading Up 1.4 %

Shares of CDW stock opened at $194.30 on Thursday. The firm’s 50 day simple moving average is $179.11 and its two-hundred day simple moving average is $204.73. The firm has a market capitalization of $25.89 billion, a price-to-earnings ratio of 23.75, a PEG ratio of 5.11 and a beta of 1.01. CDW Co. has a 12-month low of $168.43 and a 12-month high of $263.37. The company has a current ratio of 1.40, a quick ratio of 1.28 and a debt-to-equity ratio of 2.39.

CDW (NASDAQ:CDW) last posted its quarterly earnings results on Wednesday, October 30th. The information technology services provider reported $2.63 earnings per share 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 firm had revenue of $5.52 billion for the quarter, compared to analysts’ expectations of $5.72 billion. During the same quarter in the previous year, the firm posted $2.60 EPS. The firm’s revenue for the quarter was down 2.0% compared to the same quarter last year. Analysts predict that CDW Co. will post 8.99 EPS for the current year.

CDW Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Monday, November 25th were issued a $0.625 dividend. This represents a $2.50 annualized dividend and a dividend yield of 1.29%. The ex-dividend date was Monday, November 25th. This is a boost from CDW’s previous quarterly dividend of $0.62. CDW’s payout ratio is 30.56%.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on CDW. Barclays dropped their price objective on shares of CDW from $229.00 to $201.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 31st. Citigroup lowered CDW from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $250.00 to $245.00 in a research report on Tuesday, October 1st. 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 research report on Monday, October 28th. UBS Group decreased their price target on shares of CDW from $233.00 to $220.00 and set a “buy” rating for the company in a research report on Tuesday, January 7th. Finally, Morgan Stanley lifted their price objective on shares of CDW from $190.00 to $193.00 and gave the stock an “equal weight” rating in a research report on Monday, December 16th. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, CDW 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.