Diversified Trust Co Makes New Investment in CDW Co. (NASDAQ:CDW)

Diversified Trust Co acquired a new stake in CDW Co. (NASDAQ:CDW - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 8,783 shares of the information technology services provider's stock, valued at approximately $1,529,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Oddo BHF Asset Management Sas purchased a new position in shares of CDW in the third quarter worth about $1,629,000. Franklin Resources Inc. lifted its stake in CDW by 3.4% in the 3rd quarter. Franklin Resources Inc. now owns 108,009 shares of the information technology services provider's stock worth $24,138,000 after purchasing an additional 3,567 shares in the last quarter. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund acquired a new position in shares of CDW during the 3rd quarter worth approximately $12,761,000. Thrivent Financial for Lutherans grew its position in shares of CDW by 12.8% in the third quarter. Thrivent Financial for Lutherans now owns 599,900 shares of the information technology services provider's stock valued at $135,758,000 after purchasing an additional 68,023 shares in the last quarter. Finally, Fortem Financial Group LLC acquired a new stake in shares of CDW in the third quarter valued at approximately $1,061,000. 93.15% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. Barclays dropped their price target on shares of CDW from $229.00 to $201.00 and set an "equal weight" rating for the company in a research report on Thursday, October 31st. Citigroup lowered CDW from a "buy" rating to a "neutral" rating and cut their target price for the company from $250.00 to $245.00 in a research report on Tuesday, October 1st. JPMorgan Chase & Co. lowered CDW from an "overweight" rating to a "neutral" rating and lowered their price target for the stock from $260.00 to $235.00 in a research report on Monday, October 28th. Redburn Atlantic initiated coverage on CDW in a research note on Friday, November 15th. They set a "buy" rating and a $230.00 target price on the stock. Finally, UBS Group dropped their target price on CDW from $233.00 to $220.00 and set a "buy" rating for the company in a research report on Tuesday. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $239.33.

CDW Stock Up 0.2 %

Shares of CDW traded up $0.36 during midday trading on Thursday, hitting $181.34. The company had a trading volume of 1,473,760 shares, compared to its average volume of 1,312,532. CDW Co. has a 1 year low of $168.43 and a 1 year high of $263.37. The firm has a market capitalization of $24.17 billion, a P/E ratio of 22.17, a P/E/G ratio of 5.01 and a beta of 1.01. The company has a debt-to-equity ratio of 2.39, a quick ratio of 1.28 and a current ratio of 1.40. The company's 50-day simple moving average is $180.54 and its 200-day simple moving average is $207.16.

CDW (NASDAQ:CDW - Get Free Report) last posted 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 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 quarter last year, the firm earned $2.60 EPS. The company's revenue was down 2.0% on a year-over-year basis. As a group, sell-side analysts expect that CDW Co. will post 8.99 EPS for the current year.

CDW Increases Dividend

The firm also recently disclosed 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. This is a boost from CDW's previous quarterly dividend of $0.62. This represents a $2.50 annualized dividend and a dividend yield of 1.38%. The ex-dividend date of this dividend was Monday, November 25th. CDW's dividend payout ratio is currently 30.56%.

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.