Empowered Funds LLC Acquires 5,456 Shares of CDW Co. (NASDAQ:CDW)

Empowered Funds LLC increased its stake in CDW Co. (NASDAQ:CDW - Free Report) by 33.2% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 21,890 shares of the information technology services provider's stock after purchasing an additional 5,456 shares during the quarter. Empowered Funds LLC's holdings in CDW were worth $4,954,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CDW. Perpetual Ltd purchased a new position in shares of CDW during the 3rd quarter valued at $158,300,000. Lazard Asset Management LLC raised its holdings in shares of CDW by 225.9% in the 1st quarter. Lazard Asset Management LLC now owns 881,586 shares of the information technology services provider's stock valued at $225,491,000 after acquiring an additional 611,054 shares in the last quarter. Ceredex Value Advisors LLC bought a new stake in shares of CDW during the 2nd quarter valued at about $79,549,000. Canada Pension Plan Investment Board grew its holdings in shares of CDW by 2,045.4% during the second quarter. Canada Pension Plan Investment Board now owns 294,302 shares of the information technology services provider's stock worth $65,877,000 after purchasing an additional 280,584 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD increased its position in shares of CDW by 46.2% in the first 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 purchasing an additional 195,951 shares during the last quarter. 93.15% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

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

CDW Trading Up 0.2 %

CDW stock traded up $0.44 during mid-day trading on Monday, hitting $178.07. The company's stock had a trading volume of 1,356,437 shares, compared to its average volume of 883,234. The business has a 50 day moving average price of $213.49 and a 200-day moving average price of $219.94. CDW Co. has a 12 month low of $175.94 and a 12 month high of $263.37. The stock has a market cap of $23.73 billion, a price-to-earnings ratio of 21.72, a price-to-earnings-growth ratio of 4.96 and a beta of 1.05. The company has a debt-to-equity ratio of 2.39, a current ratio of 1.40 and a quick ratio of 1.28.

CDW (NASDAQ:CDW - Get Free Report) last released its 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). CDW had a net margin of 5.33% and a return on equity of 58.31%. The company had revenue of $5.52 billion during the quarter, compared to the consensus estimate of $5.72 billion. During the same period last year, the firm posted $2.60 EPS. The company's revenue was down 2.0% on a year-over-year basis. As a group, analysts forecast that CDW Co. will post 9.05 EPS for the current year.

CDW Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Monday, November 25th will be paid a $0.625 dividend. This represents a $2.50 annualized dividend and a dividend yield of 1.40%. This is an increase from CDW's previous quarterly dividend of $0.62. The ex-dividend date is Monday, November 25th. CDW's payout ratio is presently 30.32%.

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.