Geode Capital Management LLC Grows Stock Position in CDW Co. (NASDAQ:CDW)

Geode Capital Management LLC increased its position in shares of CDW Co. (NASDAQ:CDW - Free Report) by 0.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,481,064 shares of the information technology services provider's stock after acquiring an additional 31,858 shares during the quarter. Geode Capital Management LLC owned about 2.61% of CDW worth $785,635,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of CDW. ORG Partners LLC bought a new position in CDW in the second quarter valued at approximately $34,000. Quest Partners LLC acquired a new position in CDW in the 2nd quarter worth $35,000. Canoe Financial LP bought a new position in CDW during the 3rd quarter worth about $37,000. Fortitude Family Office LLC raised its stake 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 valued at $39,000 after purchasing an additional 133 shares during the period. Finally, Summit Securities Group LLC bought a new stake in shares of CDW in the second quarter valued at about $40,000. Institutional investors own 93.15% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on CDW shares. JPMorgan Chase & Co. lowered shares of CDW from an "overweight" rating to a "neutral" rating and lowered their price objective for the stock from $260.00 to $235.00 in a research note 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 for the company. Citigroup cut CDW from a "buy" rating to a "neutral" rating and dropped their price target for the company from $250.00 to $245.00 in a research note on Tuesday, October 1st. Finally, Barclays reduced their price objective 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. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $244.63.

CDW Stock Down 0.1 %

Shares of NASDAQ:CDW traded down $0.20 during mid-day trading on Thursday, hitting $178.05. 954,621 shares of the company traded hands, compared to its average volume of 922,723. The stock has a 50-day moving average price of $197.04 and a two-hundred day moving average price of $213.89. CDW Co. has a 12-month low of $172.95 and a 12-month high of $263.37. The stock has a market cap of $23.73 billion, a P/E ratio of 21.77, a P/E/G ratio of 5.06 and a beta of 1.02. 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 (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). The business had revenue of $5.52 billion for 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 company's revenue for the quarter was down 2.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.60 earnings per share. On average, equities research analysts forecast that CDW Co. will post 8.99 earnings per share for the current year.

CDW Increases Dividend

The firm also recently announced 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 dividend yield of 1.40%. 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 is currently 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.