Avanza Fonder AB Takes Position in CDW Co. (NASDAQ:CDW)

Avanza Fonder AB purchased a new stake in shares of CDW Co. (NASDAQ:CDW - Free Report) in the fourth quarter, according to its most recent 13F filing with the SEC. The fund purchased 9,896 shares of the information technology services provider's stock, valued at approximately $1,722,000.

Several other institutional investors have also recently made changes to their positions in the company. State Street Corp raised its stake in CDW by 1.1% in the third quarter. State Street Corp now owns 5,719,348 shares of the information technology services provider's stock valued at $1,294,288,000 after purchasing an additional 64,702 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of CDW by 0.9% in the 3rd quarter. Geode Capital Management LLC now owns 3,481,064 shares of the information technology services provider's stock worth $785,635,000 after buying an additional 31,858 shares during the last quarter. Massachusetts Financial Services Co. MA purchased a new stake in shares of CDW during the 3rd quarter valued at $416,111,000. Janus Henderson Group PLC lifted its holdings in shares of CDW by 7,029.1% during the 3rd quarter. Janus Henderson Group PLC now owns 1,466,597 shares of the information technology services provider's stock worth $331,891,000 after acquiring an additional 1,446,025 shares during the last quarter. Finally, Barclays PLC grew its position in CDW by 0.3% in the third quarter. Barclays PLC now owns 1,156,789 shares of the information technology services provider's stock worth $261,779,000 after acquiring an additional 3,424 shares in the last quarter. Institutional investors own 93.15% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on CDW. Morgan Stanley boosted their target price on CDW from $190.00 to $193.00 and gave the stock an "equal weight" rating in a research report on Monday, December 16th. JPMorgan Chase & Co. cut shares of CDW from an "overweight" rating to a "neutral" rating and decreased their target price for the stock from $260.00 to $235.00 in a research report on Monday, October 28th. Barclays reduced their price objective on CDW from $229.00 to $201.00 and set an "equal weight" rating on the stock in a research note on Thursday, October 31st. Redburn Atlantic initiated coverage on CDW in a report on Friday, November 15th. They set a "buy" rating and a $230.00 target price for the company. Finally, Citigroup cut CDW from a "buy" rating to a "neutral" rating and decreased their price target for the stock from $250.00 to $245.00 in a research note on Tuesday, October 1st. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $239.33.

CDW Stock Up 0.5 %

CDW traded up $0.91 during midday trading on Friday, reaching $188.70. The company's stock had a trading volume of 963,441 shares, compared to its average volume of 1,002,276. 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 firm has a market capitalization of $25.15 billion, a price-to-earnings ratio of 23.07, a PEG ratio of 4.91 and a beta of 1.01. The stock's 50-day moving average is $179.13 and its 200-day moving average is $205.18. CDW Co. has a 1 year low of $168.43 and a 1 year high of $263.37.

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. As a group, research analysts expect that CDW Co. will post 8.99 EPS for the current year.

CDW Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Monday, November 25th were issued a $0.625 dividend. This represents a $2.50 annualized dividend and a yield of 1.32%. This is an increase from CDW's previous quarterly dividend of $0.62. The ex-dividend date was Monday, November 25th. CDW's dividend payout ratio (DPR) is presently 30.56%.

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.