Curi RMB Capital LLC Sells 766 Shares of CDW Co. (NASDAQ:CDW)

Curi RMB Capital LLC cut its holdings in CDW Co. (NASDAQ:CDW) by 0.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 96,143 shares of the information technology services provider’s stock after selling 766 shares during the period. Curi RMB Capital LLC owned 0.07% of CDW worth $21,757,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Acadian Asset Management LLC lifted its holdings in shares of CDW by 211.5% in the first quarter. Acadian Asset Management LLC now owns 44,205 shares of the information technology services provider’s stock worth $11,302,000 after buying an additional 30,012 shares in the last quarter. Peak Financial Advisors LLC bought a new position in shares of CDW during the 2nd quarter valued at about $2,854,000. M&G Plc purchased a new position in shares of CDW during the first quarter valued at about $8,528,000. Virtu Financial LLC increased its holdings in shares of CDW by 175.9% in the first quarter. Virtu Financial LLC now owns 7,115 shares of the information technology services provider’s stock worth $1,820,000 after purchasing an additional 4,536 shares during the last quarter. Finally, Ontario Teachers Pension Plan Board lifted its position in shares of CDW by 71.4% in the first quarter. Ontario Teachers Pension Plan Board now owns 8,075 shares of the information technology services provider’s stock worth $2,065,000 after buying an additional 3,365 shares in the last quarter. Hedge funds and other institutional investors own 93.15% of the company’s stock.

CDW Stock Down 3.1 %

CDW stock opened at $186.01 on Thursday. The business has a fifty day moving average price of $214.86 and a 200-day moving average price of $220.81. CDW Co. has a 1-year low of $185.70 and a 1-year high of $263.37. The stock has a market capitalization of $24.79 billion, a price-to-earnings ratio of 22.74, a PEG ratio of 5.35 and a beta of 1.05. 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 (NASDAQ:CDW) last issued its quarterly earnings results on Wednesday, October 30th. The information technology services provider reported $2.63 earnings per share for the quarter, missing analysts’ consensus estimates of $2.68 by ($0.05). The business had revenue of $5.52 billion for the quarter, compared to analysts’ expectations of $5.72 billion. CDW had a return on equity of 58.31% and a net margin of 5.33%. CDW’s revenue was down 2.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.60 EPS. Equities research analysts forecast that CDW Co. will post 9.05 EPS for the current fiscal year.

CDW Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Monday, November 25th will be given a $0.625 dividend. This represents a $2.50 annualized dividend and a dividend yield of 1.34%. This is an increase from CDW’s previous quarterly dividend of $0.62. The ex-dividend date is Monday, November 25th. CDW’s dividend payout ratio is presently 30.32%.

Analyst Ratings Changes

A number of analysts have issued reports on CDW shares. JPMorgan Chase & Co. downgraded CDW from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $260.00 to $235.00 in a research note on Monday, October 28th. Citigroup downgraded shares of CDW from a “buy” rating to a “neutral” rating and decreased their price target for the company from $250.00 to $245.00 in a research note on Tuesday, October 1st. Stifel Nicolaus lifted their price objective on shares of CDW from $250.00 to $260.00 and gave the stock a “buy” rating in a research note on Wednesday, July 17th. Finally, Barclays decreased their target price 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 research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $246.71.

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.