Cantillon Capital Management LLC Sells 38,405 Shares of CDW Co. (NASDAQ:CDW)

Cantillon Capital Management LLC decreased its position in shares of CDW Co. (NASDAQ:CDW - Free Report) by 2.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,281,644 shares of the information technology services provider's stock after selling 38,405 shares during the quarter. CDW makes up approximately 1.8% of Cantillon Capital Management LLC's portfolio, making the stock its 28th biggest position. Cantillon Capital Management LLC owned 0.96% of CDW worth $290,036,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Perpetual Ltd acquired a new position in CDW during the 3rd quarter worth about $158,300,000. Lazard Asset Management LLC lifted its holdings in CDW by 225.9% during the 1st quarter. Lazard Asset Management LLC now owns 881,586 shares of the information technology services provider's stock worth $225,491,000 after buying an additional 611,054 shares during the period. Ceredex Value Advisors LLC acquired a new position in CDW during the 2nd quarter worth about $79,549,000. Canada Pension Plan Investment Board lifted its holdings in CDW by 2,045.4% during the 2nd quarter. Canada Pension Plan Investment Board now owns 294,302 shares of the information technology services provider's stock worth $65,877,000 after buying an additional 280,584 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted its holdings in CDW by 46.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 620,190 shares of the information technology services provider's stock worth $158,634,000 after buying an additional 195,951 shares during the period. Institutional investors and hedge funds own 93.15% of the company's stock.

CDW Stock Down 2.3 %

CDW stock traded down $4.02 during midday trading on Tuesday, reaching $174.05. The stock had a trading volume of 1,841,201 shares, compared to its average volume of 887,511. CDW Co. has a 12 month low of $173.37 and a 12 month high of $263.37. The company has a market capitalization of $23.19 billion, a P/E ratio of 21.28, a PEG ratio of 4.96 and a beta of 1.05. The company has a fifty day moving average price of $211.93 and a two-hundred day moving average price of $219.33. The company has a current ratio of 1.40, a quick ratio of 1.28 and a debt-to-equity ratio of 2.39.

CDW (NASDAQ:CDW - Get Free Report) last issued its earnings results on Wednesday, October 30th. The information technology services provider reported $2.63 EPS for the quarter, missing analysts' consensus estimates 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 firm earned $2.60 earnings per share. The business's quarterly revenue was down 2.0% on a year-over-year basis. As a group, equities analysts expect that CDW Co. will post 9.05 EPS for the current fiscal year.

CDW Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Monday, November 25th will be issued a dividend of $0.625 per share. 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 1.44%. The ex-dividend date is Monday, November 25th. CDW's payout ratio is currently 30.32%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Barclays cut their target price on CDW from $229.00 to $201.00 and set an "equal weight" rating on the stock in a report on Thursday, October 31st. Citigroup lowered CDW from a "buy" rating to a "neutral" rating and lowered their price objective for the stock from $250.00 to $245.00 in a research report on Tuesday, October 1st. Redburn Atlantic assumed coverage on CDW in a research report on Friday. They issued a "buy" rating and a $230.00 price objective for the company. Finally, JPMorgan Chase & Co. lowered CDW from an "overweight" rating to a "neutral" rating and lowered their price objective for the stock from $260.00 to $235.00 in a research report on Monday, October 28th. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $244.63.

About CDW

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.