Assenagon Asset Management S.A. Has $44.60 Million Holdings in CDW Co. (NASDAQ:CDW)

Assenagon Asset Management S.A. raised its holdings in shares of CDW Co. (NASDAQ:CDW - Free Report) by 7,549.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 256,271 shares of the information technology services provider's stock after purchasing an additional 252,921 shares during the period. Assenagon Asset Management S.A. owned about 0.19% of CDW worth $44,601,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. PDS Planning Inc lifted its holdings in shares of CDW by 4.3% in the 3rd quarter. PDS Planning Inc now owns 1,186 shares of the information technology services provider's stock worth $268,000 after purchasing an additional 49 shares during the last quarter. Profund Advisors LLC increased its position in CDW by 0.5% in the second quarter. Profund Advisors LLC now owns 12,469 shares of the information technology services provider's stock worth $2,791,000 after buying an additional 58 shares during the period. OneAscent Wealth Management LLC lifted its stake in CDW by 2.5% in the third quarter. OneAscent Wealth Management LLC now owns 2,387 shares of the information technology services provider's stock valued at $540,000 after buying an additional 58 shares during the last quarter. Fulcrum Equity Management boosted its holdings in shares of CDW by 4.3% during the third quarter. Fulcrum Equity Management now owns 1,442 shares of the information technology services provider's stock valued at $326,000 after acquiring an additional 60 shares during the period. Finally, Elo Mutual Pension Insurance Co grew its position in shares of CDW by 0.5% during the second quarter. Elo Mutual Pension Insurance Co now owns 12,301 shares of the information technology services provider's stock worth $2,753,000 after acquiring an additional 61 shares during the last quarter. 93.15% of the stock is owned by institutional investors and hedge funds.

CDW Price Performance

NASDAQ CDW traded up $0.91 on Friday, reaching $188.70. 963,441 shares of the stock traded hands, compared to its average volume of 1,416,967. CDW Co. has a 12 month low of $168.43 and a 12 month high of $263.37. The company has a quick ratio of 1.28, a current ratio of 1.40 and a debt-to-equity ratio of 2.39. The firm's fifty day simple moving average is $179.35 and its 200 day simple moving average is $205.58. The company has a market cap of $25.15 billion, a price-to-earnings ratio of 23.07, a P/E/G ratio of 4.91 and a beta of 1.01.

CDW (NASDAQ:CDW - Get Free Report) last issued its quarterly earnings results on Wednesday, October 30th. The information technology services provider reported $2.63 earnings per share for the quarter, missing analysts' consensus estimates 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%. CDW's revenue was down 2.0% compared to the same quarter last year. During the same period in the previous year, the company posted $2.60 earnings per share. As a group, research analysts predict that CDW Co. will post 8.99 EPS for the current fiscal year.

CDW Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Monday, November 25th were given a dividend of $0.625 per share. The ex-dividend date was 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 dividend yield of 1.32%. CDW's payout ratio is 30.56%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. Barclays cut their price objective on shares of CDW from $229.00 to $201.00 and set an "equal weight" rating on the stock in a research report on Thursday, October 31st. UBS Group cut their price target on CDW from $233.00 to $220.00 and set a "buy" rating on the stock in a report on Tuesday, January 7th. Citigroup downgraded CDW from a "buy" rating to a "neutral" rating and reduced their price objective for the stock from $250.00 to $245.00 in a research report on Tuesday, October 1st. JPMorgan Chase & Co. cut CDW from an "overweight" rating to a "neutral" rating and lowered their target price for the company from $260.00 to $235.00 in a research report on Monday, October 28th. Finally, Morgan Stanley boosted their price target on CDW from $190.00 to $193.00 and gave the stock an "equal weight" rating in a research report on Monday, December 16th. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $239.33.

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.