M&T Bank Corp trimmed its holdings in CDW Co. (NASDAQ:CDW - Free Report) by 25.2% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 67,821 shares of the information technology services provider's stock after selling 22,789 shares during the quarter. M&T Bank Corp owned 0.05% of CDW worth $15,348,000 at the end of the most recent quarter.
A number of other institutional investors also recently made changes to their positions in the business. Quest Partners LLC purchased a new position in CDW in the 2nd quarter worth approximately $35,000. Canoe Financial LP purchased a new position in shares of CDW in the third quarter worth $37,000. Fortitude Family Office LLC raised its holdings in CDW by 350.0% during the 3rd quarter. Fortitude Family Office LLC now owns 171 shares of the information technology services provider's stock valued at $39,000 after buying an additional 133 shares during the last quarter. Summit Securities Group LLC purchased a new stake in CDW during the 2nd quarter valued at $40,000. Finally, Ashton Thomas Securities LLC bought a new stake in CDW in the 3rd quarter worth $43,000. Hedge funds and other institutional investors own 93.15% of the company's stock.
CDW has been the subject of a number of analyst reports. Barclays dropped their target price on shares of CDW from $229.00 to $201.00 and set an "equal weight" rating for the company in a report on Thursday, October 31st. JPMorgan Chase & Co. lowered CDW from an "overweight" rating to a "neutral" rating and cut their price objective for the stock from $260.00 to $235.00 in a research report on Monday, October 28th. Citigroup lowered CDW from a "buy" rating to a "neutral" rating and dropped their price target for the stock from $250.00 to $245.00 in a research note on Tuesday, October 1st. Morgan Stanley boosted their price objective on shares of CDW from $190.00 to $193.00 and gave the company an "equal weight" rating in a research report on Monday, December 16th. Finally, Redburn Atlantic started coverage on shares of CDW in a report on Friday, November 15th. They issued a "buy" rating and a $230.00 price objective for the company. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $241.75.
Get Our Latest Analysis on CDW
Shares of NASDAQ:CDW opened at $174.53 on Friday. The company has a current ratio of 1.40, a quick ratio of 1.28 and a debt-to-equity ratio of 2.39. The stock has a fifty day simple moving average of $191.33 and a two-hundred day simple moving average of $211.83. CDW Co. has a 12-month low of $170.68 and a 12-month high of $263.37. The stock has a market capitalization of $23.26 billion, a price-to-earnings ratio of 21.34, a PEG ratio of 5.01 and a beta of 1.02.
CDW (NASDAQ:CDW - Get Free Report) last announced its quarterly earnings results on Wednesday, October 30th. The information technology services provider reported $2.63 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.68 by ($0.05). The firm had revenue of $5.52 billion during the quarter, compared to the consensus estimate of $5.72 billion. CDW had a return on equity of 58.31% and a net margin of 5.33%. The business's revenue for the quarter was down 2.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.60 EPS. On average, research analysts anticipate that CDW Co. will post 8.99 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Monday, November 25th were given a dividend of $0.625 per share. The ex-dividend date was Monday, November 25th. This represents a $2.50 annualized dividend and a dividend yield of 1.43%. This is an increase from CDW's previous quarterly dividend of $0.62. CDW's dividend payout ratio (DPR) is 30.56%.
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.
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