ING Groep NV Sells 34,283 Shares of CDW Co. (NASDAQ:CDW)

ING Groep NV reduced its position in CDW Co. (NASDAQ:CDW) by 55.8% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 27,190 shares of the information technology services provider’s stock after selling 34,283 shares during the period. ING Groep NV’s holdings in CDW were worth $6,153,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of CDW. ORG Partners LLC bought a new position in CDW in the second quarter worth approximately $34,000. Quest Partners LLC bought a new position in CDW in the 2nd quarter worth $35,000. Canoe Financial LP bought a new position in CDW in the 3rd quarter worth $37,000. Fortitude Family Office LLC lifted its position in CDW by 350.0% during the third quarter. Fortitude Family Office LLC now owns 171 shares of the information technology services provider’s stock valued at $39,000 after purchasing an additional 133 shares in the last quarter. Finally, Summit Securities Group LLC bought a new stake in CDW during the second quarter valued at about $40,000. Institutional investors own 93.15% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on CDW shares. Barclays dropped their price target on shares of CDW from $229.00 to $201.00 and set an “equal weight” rating for the company in a research report on Thursday, October 31st. JPMorgan Chase & Co. lowered CDW from an “overweight” rating to a “neutral” rating and cut their price target for the stock from $260.00 to $235.00 in a research note on Monday, October 28th. Redburn Atlantic started coverage on CDW in a research note on Friday. They set a “buy” rating and a $230.00 target price on the stock. Finally, Citigroup lowered shares of CDW from a “buy” rating to a “neutral” rating and cut their price objective for the company from $250.00 to $245.00 in a report on Tuesday, October 1st. Four analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $244.63.

CDW Stock Performance

NASDAQ:CDW opened at $177.63 on Friday. The company has a market cap of $23.67 billion, a price-to-earnings ratio of 21.72, a PEG ratio of 5.19 and a beta of 1.05. CDW Co. has a 1 year low of $175.94 and a 1 year high of $263.37. The stock’s 50 day simple moving average is $213.49 and its two-hundred day simple moving average is $220.05. 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 announced 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 return on equity of 58.31% and a net margin of 5.33%. The business 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 firm posted $2.60 EPS. The company’s revenue for the quarter was down 2.0% on a year-over-year basis. As a group, equities analysts anticipate that CDW Co. will post 9.05 earnings per share for the current fiscal year.

CDW Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Monday, November 25th will be issued a $0.625 dividend. This is an increase from CDW’s previous quarterly dividend of $0.62. The ex-dividend date of this dividend is Monday, November 25th. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.41%. CDW’s dividend payout ratio (DPR) is presently 30.32%.

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.