Mawer Investment Management Ltd. cut its stake in CDW Co. (NASDAQ:CDW - Free Report) by 0.9% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,076,484 shares of the information technology services provider's stock after selling 26,404 shares during the quarter. CDW makes up approximately 3.2% of Mawer Investment Management Ltd.'s investment portfolio, making the stock its 9th largest position. Mawer Investment Management Ltd. owned approximately 2.31% of CDW worth $696,208,000 at the end of the most recent reporting period.
Other hedge funds have also bought and sold shares of the company. Quest Partners LLC acquired a new stake in CDW in the second quarter valued at approximately $35,000. ORG Partners LLC acquired a new stake in CDW in the 2nd quarter valued at $34,000. Canoe Financial LP purchased a new stake in CDW in the 3rd quarter worth $37,000. Fortitude Family Office LLC raised 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 worth $39,000 after acquiring an additional 133 shares during the period. Finally, Summit Securities Group LLC purchased a new position in CDW during the second quarter valued at $40,000. Hedge funds and other institutional investors own 93.15% of the company's stock.
CDW Trading Up 0.2 %
Shares of CDW stock traded up $0.44 during trading on Monday, hitting $178.07. 1,356,443 shares of the stock traded hands, compared to its average volume of 883,234. The firm has a market capitalization of $23.73 billion, a P/E ratio of 21.72, a price-to-earnings-growth ratio of 4.96 and a beta of 1.05. CDW Co. has a 52-week low of $175.94 and a 52-week 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. The firm's fifty day moving average price is $213.49 and its 200-day moving average price is $219.94.
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). The business had revenue of $5.52 billion during the quarter, compared to analyst estimates of $5.72 billion. CDW had a net margin of 5.33% and a return on equity of 58.31%. The business's revenue for the quarter was down 2.0% on a year-over-year basis. During the same period last year, the company earned $2.60 EPS. As a group, research analysts forecast that CDW Co. will post 9.05 earnings per share for the current fiscal year.
CDW Increases Dividend
The business also recently announced 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. The ex-dividend date is Monday, November 25th. This is a positive change from CDW's previous quarterly dividend of $0.62. This represents a $2.50 dividend on an annualized basis and a yield of 1.40%. CDW's dividend payout ratio (DPR) is 30.32%.
Analyst Upgrades and Downgrades
A number of brokerages recently weighed in on CDW. Redburn Atlantic started coverage on shares of CDW in a research note on Friday. They issued a "buy" rating and a $230.00 price target on the stock. Barclays decreased their target price on CDW from $229.00 to $201.00 and set an "equal weight" rating on the stock in a research report on Thursday, October 31st. JPMorgan Chase & Co. downgraded CDW from an "overweight" rating to a "neutral" rating and reduced their price objective for the company from $260.00 to $235.00 in a research note on Monday, October 28th. Finally, Citigroup lowered shares of CDW from a "buy" rating to a "neutral" rating and dropped their target price 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 stock. Based on data from MarketBeat.com, CDW has an average rating of "Moderate Buy" and an average price target of $244.63.
Read Our Latest Stock Report on CDW
CDW Company Profile
(
Free Report)
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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