Fort Washington Investment Advisors Inc. OH Reduces Position in CDW Co. (NASDAQ:CDW)

Fort Washington Investment Advisors Inc. OH cut its holdings in shares of CDW Co. (NASDAQ:CDW) by 3.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,316 shares of the information technology services provider’s stock after selling 297 shares during the quarter. Fort Washington Investment Advisors Inc. OH’s holdings in CDW were worth $1,273,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the business. Sei Investments Co. lifted its holdings in shares of CDW by 10.6% in the second quarter. Sei Investments Co. now owns 29,927 shares of the information technology services provider’s stock worth $6,699,000 after buying an additional 2,867 shares in the last quarter. Bank of Montreal Can lifted its holdings in shares of CDW by 4.2% in the second quarter. Bank of Montreal Can now owns 190,507 shares of the information technology services provider’s stock worth $43,123,000 after buying an additional 7,705 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its holdings in shares of CDW by 60.7% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 25,704 shares of the information technology services provider’s stock worth $5,754,000 after buying an additional 9,710 shares in the last quarter. AQR Capital Management LLC lifted its holdings in shares of CDW by 8.8% in the second quarter. AQR Capital Management LLC now owns 58,585 shares of the information technology services provider’s stock worth $13,114,000 after buying an additional 4,720 shares in the last quarter. Finally, APG Asset Management US Inc. purchased a new stake in shares of CDW in the second quarter worth about $307,000. 93.15% of the stock is owned by hedge funds and other institutional investors.

CDW Stock Up 1.6 %

Shares of NASDAQ CDW opened at $197.49 on Friday. CDW Co. has a one year low of $168.43 and a one year high of $263.37. The company has a debt-to-equity ratio of 2.39, a current ratio of 1.40 and a quick ratio of 1.28. The firm’s 50 day simple moving average is $179.44 and its two-hundred day simple moving average is $204.68. The stock has a market capitalization of $26.32 billion, a P/E ratio of 24.14, a PEG ratio of 5.18 and a beta of 1.01.

CDW (NASDAQ:CDW) last issued its earnings results on Wednesday, October 30th. The information technology services provider reported $2.63 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.68 by ($0.05). CDW had a return on equity of 58.31% and a net margin of 5.33%. The firm had revenue of $5.52 billion during the quarter, compared to the consensus estimate of $5.72 billion. During the same quarter in the prior year, the business posted $2.60 EPS. The firm’s revenue for the quarter was down 2.0% on a year-over-year basis. As a group, analysts expect that CDW Co. will post 8.99 EPS for the current fiscal year.

CDW Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Monday, November 25th were issued a $0.625 dividend. This is a boost from CDW’s previous quarterly dividend of $0.62. The ex-dividend date was Monday, November 25th. This represents a $2.50 annualized dividend and a dividend yield of 1.27%. CDW’s dividend payout ratio (DPR) is currently 30.56%.

Analyst Ratings Changes

CDW has been the topic of several research analyst reports. UBS Group decreased their price objective on shares of CDW from $233.00 to $220.00 and set a “buy” rating on the stock in a research report on Tuesday, January 7th. Morgan Stanley upped 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. 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. JPMorgan Chase & Co. cut shares of CDW from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from $260.00 to $235.00 in a research report on Monday, October 28th. Finally, Barclays decreased 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 report on Thursday, October 31st. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, CDW currently has an average rating of “Moderate Buy” and an average target price 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.