KBC Group NV Has $6.73 Million Stock Position in CDW Co. (NASDAQ:CDW)

KBC Group NV decreased its position in CDW Co. (NASDAQ:CDW - Free Report) by 49.7% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 29,759 shares of the information technology services provider's stock after selling 29,413 shares during the period. KBC Group NV's holdings in CDW were worth $6,734,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the business. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund bought a new position in CDW in the third quarter valued at approximately $12,761,000. ICICI Prudential Asset Management Co Ltd boosted its holdings in shares of CDW by 18.1% in the 3rd quarter. ICICI Prudential Asset Management Co Ltd now owns 1,743 shares of the information technology services provider's stock valued at $394,000 after buying an additional 267 shares during the last quarter. Aigen Investment Management LP bought a new position in shares of CDW in the third quarter valued at $803,000. Sumitomo Mitsui Trust Group Inc. increased its holdings in CDW by 1.9% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 331,969 shares of the information technology services provider's stock worth $75,125,000 after buying an additional 6,161 shares during the last quarter. Finally, Entropy Technologies LP raised its position in CDW by 42.0% during the third quarter. Entropy Technologies LP now owns 3,786 shares of the information technology services provider's stock worth $857,000 after acquiring an additional 1,120 shares in the last quarter. 93.15% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Citigroup downgraded CDW from a "buy" rating to a "neutral" rating and lowered their price target for the stock from $250.00 to $245.00 in a research report on Tuesday, October 1st. Barclays dropped their price objective on shares of CDW from $229.00 to $201.00 and set an "equal weight" rating on the stock in a research report on Thursday, October 31st. Redburn Atlantic started coverage on shares of CDW in a report on Friday. They issued a "buy" rating and a $230.00 price target on the stock. Finally, JPMorgan Chase & Co. downgraded CDW from an "overweight" rating to a "neutral" rating and reduced their price target for the company from $260.00 to $235.00 in a research note on Monday, October 28th. Four investment analysts have rated the stock with a hold rating and four have assigned 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 Price Performance

Shares of CDW stock traded down $3.14 on Friday, reaching $177.63. The company had a trading volume of 2,703,465 shares, compared to its average volume of 1,437,995. The stock has a market capitalization of $23.67 billion, a PE ratio of 21.72, a price-to-earnings-growth ratio of 4.96 and a beta of 1.05. 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 business's 50-day moving average is $213.49 and its 200 day moving average is $219.94. CDW Co. has a one year low of $175.94 and a one year high of $263.37.

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

CDW Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Monday, November 25th will be paid a dividend of $0.625 per share. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.41%. This is a positive change from CDW's previous quarterly dividend of $0.62. The ex-dividend date of this dividend is Monday, November 25th. CDW's dividend payout ratio (DPR) is presently 30.32%.

CDW 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.