Congress Asset Management Co. Has $14.84 Million Position in CDW Co. (NASDAQ:CDW)

Congress Asset Management Co. raised its holdings in CDW Co. (NASDAQ:CDW - Free Report) by 16.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 65,558 shares of the information technology services provider's stock after acquiring an additional 9,491 shares during the period. Congress Asset Management Co.'s holdings in CDW were worth $14,836,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Acadian Asset Management LLC increased its holdings in CDW by 211.5% during the 1st quarter. Acadian Asset Management LLC now owns 44,205 shares of the information technology services provider's stock worth $11,302,000 after purchasing an additional 30,012 shares in the last quarter. Mediolanum International Funds Ltd acquired a new stake in CDW in the 1st quarter valued at approximately $2,461,000. Meeder Asset Management Inc. lifted its stake in CDW by 33,447.6% in the 1st quarter. Meeder Asset Management Inc. now owns 7,045 shares of the information technology services provider's stock valued at $1,802,000 after acquiring an additional 7,024 shares in the last quarter. Peak Financial Advisors LLC acquired a new position in CDW during the 2nd quarter worth approximately $2,854,000. Finally, M&G Plc bought a new position in shares of CDW during the 1st quarter worth approximately $8,528,000. 93.15% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on CDW. Barclays cut 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. JPMorgan Chase & Co. cut CDW from an "overweight" rating to a "neutral" rating and decreased their price objective for the company from $260.00 to $235.00 in a report on Monday. Stifel Nicolaus upped their target price on CDW from $250.00 to $260.00 and gave the stock a "buy" rating in a report on Wednesday, July 17th. Finally, Citigroup downgraded CDW from a "buy" rating to a "neutral" rating and decreased their price target for the company from $250.00 to $245.00 in a research note on Tuesday, October 1st. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $246.71.

CDW Stock Performance

NASDAQ:CDW traded up $0.15 on Friday, hitting $188.38. The company's stock had a trading volume of 1,502,518 shares, compared to its average volume of 841,513. The company has a current ratio of 1.40, a quick ratio of 1.02 and a debt-to-equity ratio of 2.39. CDW Co. has a one year low of $187.73 and a one year high of $263.37. The stock has a fifty day moving average of $220.12 and a two-hundred day moving average of $223.72. The firm has a market capitalization of $25.16 billion, a P/E ratio of 23.03, a price-to-earnings-growth ratio of 2.96 and a beta of 1.03.

CDW (NASDAQ:CDW - Get Free Report) last released its quarterly earnings data on Wednesday, July 31st. The information technology services provider reported $2.34 EPS for the quarter, missing analysts' consensus estimates of $2.39 by ($0.05). The company had revenue of $5.42 billion for the quarter, compared to the consensus estimate of $5.43 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 3.6% compared to the same quarter last year. During the same period last year, the firm earned $2.43 earnings per share. Research analysts predict that CDW Co. will post 9.38 earnings per share for the current year.

CDW Increases Dividend

The business also recently declared 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. The ex-dividend date is Monday, November 25th. This represents a $2.50 dividend on an annualized basis and a yield of 1.33%. This is a positive change from CDW's previous quarterly dividend of $0.62. CDW's dividend payout ratio is 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.