City Holding Co. Has $783,000 Stake in CDW Corporation $CDW

City Holding Co. reduced its position in shares of CDW Corporation (NASDAQ:CDW) by 4.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,383 shares of the information technology services provider’s stock after selling 192 shares during the period. City Holding Co.’s holdings in CDW were worth $783,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. GW&K Investment Management LLC boosted its stake in CDW by 78.9% in the 1st quarter. GW&K Investment Management LLC now owns 170 shares of the information technology services provider’s stock valued at $27,000 after purchasing an additional 75 shares during the period. Bayforest Capital Ltd bought a new position in CDW during the first quarter worth about $31,000. Pandora Wealth Inc. bought a new position in CDW during the first quarter worth about $32,000. Stone House Investment Management LLC bought a new position in CDW during the first quarter worth about $34,000. Finally, Golden State Wealth Management LLC increased its position in CDW by 237.2% during the first quarter. Golden State Wealth Management LLC now owns 263 shares of the information technology services provider’s stock worth $42,000 after acquiring an additional 185 shares during the period. 93.15% of the stock is currently owned by institutional investors.

CDW Price Performance

CDW stock opened at $164.37 on Monday. The company has a debt-to-equity ratio of 2.28, a quick ratio of 1.22 and a current ratio of 1.35. CDW Corporation has a 52 week low of $137.31 and a 52 week high of $229.00. The stock has a market capitalization of $21.54 billion, a P/E ratio of 20.42, a price-to-earnings-growth ratio of 2.73 and a beta of 0.98. The stock has a fifty day moving average of $167.79 and a 200-day moving average of $169.57.

CDW (NASDAQ:CDW) last posted its quarterly earnings results on Wednesday, August 6th. The information technology services provider reported $2.60 EPS for the quarter, topping analysts’ consensus estimates of $2.49 by $0.11. CDW had a return on equity of 53.63% and a net margin of 4.92%.The company had revenue of $5.98 billion during the quarter, compared to analysts’ expectations of $5.51 billion. During the same quarter in the previous year, the firm earned $2.50 EPS. CDW’s revenue was up 10.2% on a year-over-year basis. On average, sell-side analysts expect that CDW Corporation will post 9.41 earnings per share for the current fiscal year.

CDW Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Monday, August 25th were issued a dividend of $0.625 per share. The ex-dividend date of this dividend was Monday, August 25th. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.5%. CDW’s payout ratio is 31.06%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. JPMorgan Chase & Co. raised their price target on shares of CDW from $185.00 to $205.00 and gave the stock a “neutral” rating in a research report on Thursday, July 17th. UBS Group cut their target price on CDW from $210.00 to $200.00 and set a “buy” rating for the company in a research report on Thursday, August 7th. Citigroup raised their price target on CDW from $180.00 to $200.00 and gave the stock a “neutral” rating in a research report on Friday, July 11th. Finally, Barclays decreased their price target on CDW from $205.00 to $176.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 7th. Two research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $202.00.

CDW 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.