Franklin Resources Inc. Grows Stock Holdings in CDW Co. (NASDAQ:CDW)

Franklin Resources Inc. boosted its stake in shares of CDW Co. (NASDAQ:CDW - Free Report) by 3.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 108,009 shares of the information technology services provider's stock after purchasing an additional 3,567 shares during the quarter. Franklin Resources Inc. owned about 0.08% of CDW worth $24,138,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund bought a new position in shares of CDW during the third quarter worth approximately $12,761,000. Thrivent Financial for Lutherans grew its position in CDW by 12.8% during the third quarter. Thrivent Financial for Lutherans now owns 599,900 shares of the information technology services provider's stock worth $135,758,000 after buying an additional 68,023 shares in the last quarter. Fortem Financial Group LLC bought a new position in CDW during the 3rd quarter worth $1,061,000. Exchange Traded Concepts LLC raised its holdings in CDW by 50.7% in 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 in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of CDW by 10.1% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 27,728 shares of the information technology services provider's stock valued at $6,207,000 after acquiring an additional 2,533 shares during the period. 93.15% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. Barclays lowered their price target on CDW from $229.00 to $201.00 and set an "equal weight" rating for the company in a report on Thursday, October 31st. JPMorgan Chase & Co. lowered shares of CDW from an "overweight" rating to a "neutral" rating and cut their price target for the stock from $260.00 to $235.00 in a report on Monday, October 28th. Citigroup downgraded shares of CDW from a "buy" rating to a "neutral" rating and decreased their target price for the company from $250.00 to $245.00 in a research report on Tuesday, October 1st. Redburn Atlantic assumed coverage on CDW in a report on Friday, November 15th. They set a "buy" rating and a $230.00 price target for the company. Finally, Morgan Stanley upped their target price on CDW from $190.00 to $193.00 and gave the company an "equal weight" rating in a research report on Monday. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $241.75.

CDW Stock Up 0.7 %

NASDAQ CDW traded up $1.25 during mid-day trading on Friday, hitting $174.53. The company's stock had a trading volume of 2,589,272 shares, compared to its average volume of 937,670. The firm has a market capitalization of $23.26 billion, a price-to-earnings ratio of 21.34, a PEG ratio of 5.01 and a beta of 1.02. The company's 50 day simple moving average is $192.28 and its 200 day simple moving average is $212.17. 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 Co. has a twelve month low of $170.68 and a twelve month high of $263.37.

CDW (NASDAQ:CDW - Get Free Report) last issued its quarterly earnings data 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 company had revenue of $5.52 billion during the quarter, compared to analysts' expectations of $5.72 billion. During the same period last year, the company earned $2.60 earnings per share. The business's revenue for the quarter was down 2.0% compared to the same quarter last year. Analysts anticipate that CDW Co. will post 8.99 earnings per share for the current year.

CDW Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Monday, November 25th were issued a dividend of $0.625 per share. This represents a $2.50 dividend on an annualized basis and a yield of 1.43%. The ex-dividend date was Monday, November 25th. This is an increase from CDW's previous quarterly dividend of $0.62. CDW's dividend payout ratio (DPR) is 30.56%.

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.