Barclays PLC Purchases 3,424 Shares of CDW Co. (NASDAQ:CDW)

Barclays PLC raised its stake in shares of CDW Co. (NASDAQ:CDW - Free Report) by 0.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,156,789 shares of the information technology services provider's stock after acquiring an additional 3,424 shares during the period. Barclays PLC owned about 0.87% of CDW worth $261,779,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Massachusetts Financial Services Co. MA purchased a new stake in shares of CDW during the third quarter valued at approximately $416,111,000. Janus Henderson Group PLC increased its position 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 valued at $331,891,000 after purchasing an additional 1,446,025 shares during the last quarter. Holocene Advisors LP bought a new stake in shares of CDW during the 3rd quarter worth $172,217,000. Perpetual Ltd purchased a new position in shares of CDW in the 3rd quarter worth about $158,300,000. Finally, Ceredex Value Advisors LLC bought a new position in CDW during the second quarter valued at about $79,549,000. 93.15% of the stock is owned by hedge funds and other institutional investors.

CDW Price Performance

Shares of CDW traded down $3.45 during midday trading on Tuesday, hitting $179.01. 1,448,499 shares of the company traded hands, compared to its average volume of 920,525. The stock has a 50-day moving average of $198.66 and a 200-day moving average of $214.40. The firm has a market cap of $23.85 billion, a P/E ratio of 21.88, a PEG ratio of 5.06 and a beta of 1.02. CDW Co. has a one year low of $172.95 and a one year high of $263.37. 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 - Get Free Report) last announced its quarterly earnings results on Wednesday, October 30th. The information technology services provider reported $2.63 EPS for the quarter, missing the consensus estimate of $2.68 by ($0.05). CDW had a net margin of 5.33% and a return on equity of 58.31%. The firm had revenue of $5.52 billion during the quarter, compared to the consensus estimate of $5.72 billion. During the same period in the previous year, the business earned $2.60 earnings per share. The firm's revenue for the quarter was down 2.0% on a year-over-year basis. As a group, sell-side analysts predict that CDW Co. will post 8.99 EPS for the current fiscal year.

CDW Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Monday, November 25th will be issued a $0.625 dividend. The ex-dividend date is Monday, November 25th. This represents a $2.50 annualized dividend and a dividend yield of 1.40%. This is a boost from CDW's previous quarterly dividend of $0.62. CDW's dividend payout ratio (DPR) is presently 30.56%.

Analyst Ratings Changes

A number of research firms have weighed in on CDW. Redburn Atlantic started coverage on shares of CDW in a research note on Friday, November 15th. They issued a "buy" rating and a $230.00 target price on the stock. Barclays dropped 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. JPMorgan Chase & Co. downgraded 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. Finally, Citigroup lowered CDW from a "buy" rating to a "neutral" rating and decreased their price objective for the stock from $250.00 to $245.00 in a report on Tuesday, October 1st. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $244.63.

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.