CDW Co. (NASDAQ:CDW) Shares Sold by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company cut its holdings in CDW Co. (NASDAQ:CDW - Free Report) by 88.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 80,226 shares of the information technology services provider's stock after selling 622,520 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 0.06% of CDW worth $18,155,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Peak Financial Advisors LLC purchased a new stake in CDW during the 2nd quarter valued at about $2,854,000. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund bought a new position in CDW during the 3rd quarter valued at about $12,761,000. Raymond James & Associates lifted its stake in CDW by 16.6% during the 2nd quarter. Raymond James & Associates now owns 139,711 shares of the information technology services provider's stock valued at $31,273,000 after acquiring an additional 19,867 shares during the period. Thrivent Financial for Lutherans lifted its stake in CDW by 12.8% during the 3rd quarter. Thrivent Financial for Lutherans now owns 599,900 shares of the information technology services provider's stock valued at $135,758,000 after acquiring an additional 68,023 shares during the period. Finally, Exchange Traded Concepts LLC lifted its stake in CDW by 50.7% during the 3rd quarter. Exchange Traded Concepts LLC now owns 2,398 shares of the information technology services provider's stock valued at $543,000 after acquiring an additional 807 shares during the period. 93.15% of the stock is owned by hedge funds and other institutional investors.

CDW Stock Up 1.9 %

Shares of CDW stock traded up $3.33 during trading hours on Monday, reaching $179.26. 399,776 shares of the company's stock were exchanged, compared to its average volume of 906,213. CDW Co. has a 1 year low of $172.95 and a 1 year high of $263.37. The stock has a market cap of $23.89 billion, a PE ratio of 21.89, a PEG ratio of 4.94 and a beta of 1.05. 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 stock's fifty day moving average price is $204.87 and its two-hundred day moving average price is $216.84.

CDW (NASDAQ:CDW - Get Free Report) last released 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 return on equity of 58.31% and a net margin of 5.33%. The firm had revenue of $5.52 billion for the quarter, compared to analyst estimates of $5.72 billion. During the same period last year, the firm earned $2.60 EPS. The company's revenue for the quarter was down 2.0% compared to the same quarter last year. Research analysts predict that CDW Co. will post 8.99 EPS for the current year.

CDW Increases Dividend

The business 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 is an increase from CDW's previous quarterly dividend of $0.62. This represents a $2.50 dividend on an annualized basis and a yield of 1.39%. CDW's payout ratio is presently 30.56%.

Analysts Set New Price Targets

CDW has been the topic of several recent research reports. Citigroup cut shares of 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 note on Tuesday, October 1st. Redburn Atlantic began coverage on shares of CDW in a report on Friday, November 15th. They issued a "buy" rating and a $230.00 target price for the company. Barclays reduced their target price on shares of CDW from $229.00 to $201.00 and set an "equal weight" rating for the company in a report on Thursday, October 31st. Finally, JPMorgan Chase & Co. lowered shares of CDW from an "overweight" rating to a "neutral" rating and reduced their target price for the stock from $260.00 to $235.00 in a report on Monday, October 28th. Four analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price 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.