Erste Asset Management GmbH Buys New Shares in CDW Co. (NASDAQ:CDW)

Erste Asset Management GmbH bought a new position in CDW Co. (NASDAQ:CDW - Free Report) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 36,185 shares of the information technology services provider's stock, valued at approximately $8,198,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Quest Partners LLC acquired a new stake in shares of CDW in the 2nd quarter worth approximately $35,000. ORG Partners LLC bought a new stake in shares of CDW in the 2nd quarter worth approximately $34,000. Canoe Financial LP bought a new stake in shares of CDW in the 3rd quarter worth approximately $37,000. Fortitude Family Office LLC raised its holdings in shares of CDW by 350.0% in the 3rd quarter. Fortitude Family Office LLC now owns 171 shares of the information technology services provider's stock worth $39,000 after purchasing an additional 133 shares in the last quarter. Finally, Summit Securities Group LLC bought a new stake in shares of CDW in the 2nd quarter worth approximately $40,000. Institutional investors own 93.15% of the company's stock.

CDW Stock Up 1.9 %

CDW stock traded up $3.33 during trading hours on Monday, hitting $179.26. The company's stock had a trading volume of 399,776 shares, compared to its average volume of 906,213. 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 company has a market capitalization of $23.89 billion, a PE ratio of 21.89, a price-to-earnings-growth ratio of 4.94 and a beta of 1.05. CDW Co. has a 12 month low of $172.95 and a 12 month high of $263.37. The stock has a 50 day moving average price of $204.87 and a two-hundred day moving average price of $216.84.

CDW (NASDAQ:CDW - Get Free Report) last posted its 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). The business had revenue of $5.52 billion during the quarter, compared to the consensus estimate of $5.72 billion. CDW had a return on equity of 58.31% and a net margin of 5.33%. The business's revenue was down 2.0% on a year-over-year basis. During the same period in the prior year, the firm earned $2.60 earnings per share. On average, equities research analysts expect that CDW Co. will post 8.99 earnings per share for the current year.

CDW Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Monday, November 25th will be issued a dividend of $0.625 per share. This is an increase from CDW's previous quarterly dividend of $0.62. This represents a $2.50 annualized dividend and a dividend yield of 1.39%. The ex-dividend date of this dividend is Monday, November 25th. CDW's dividend payout ratio is currently 30.56%.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the stock. Citigroup downgraded shares of CDW from a "buy" rating to a "neutral" rating and dropped their target price for the stock from $250.00 to $245.00 in a report on Tuesday, October 1st. Barclays cut their price target on shares of CDW from $229.00 to $201.00 and set an "equal weight" rating on the stock in a report on Thursday, October 31st. Redburn Atlantic started coverage on shares of CDW in a report on Friday, November 15th. They set a "buy" rating and a $230.00 price target on the stock. Finally, JPMorgan Chase & Co. lowered shares of CDW from an "overweight" rating to a "neutral" rating and cut their price target for the company from $260.00 to $235.00 in a report on Monday, October 28th. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $244.63.

CDW Company 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.