Ceredex Value Advisors LLC Has $98.67 Million Holdings in CDW Co. (NASDAQ:CDW)

Ceredex Value Advisors LLC lifted its stake in shares of CDW Co. (NASDAQ:CDW - Free Report) by 22.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 436,034 shares of the information technology services provider's stock after purchasing an additional 80,650 shares during the period. CDW accounts for 1.9% of Ceredex Value Advisors LLC's investment portfolio, making the stock its 7th biggest holding. Ceredex Value Advisors LLC owned approximately 0.32% of CDW worth $98,674,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently modified their holdings of the stock. ORG Partners LLC bought a new position in CDW during the second quarter worth about $34,000. Quest Partners LLC purchased a new stake in shares of CDW during the 2nd quarter valued at approximately $35,000. Canoe Financial LP bought a new position in CDW in the 3rd quarter worth approximately $37,000. Fortitude Family Office LLC grew its stake in 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 buying an additional 133 shares in the last quarter. Finally, Summit Securities Group LLC bought a new stake in CDW during the 2nd quarter valued at $40,000. Institutional investors own 93.15% of the company's stock.

CDW Trading Up 0.1 %

Shares of NASDAQ CDW traded up $0.15 during midday trading on Friday, reaching $188.38. The company had a trading volume of 1,502,643 shares, compared to its average volume of 841,513. The stock has a market cap of $25.16 billion, a PE ratio of 23.03, a price-to-earnings-growth ratio of 2.96 and a beta of 1.03. CDW Co. has a one year low of $187.73 and a one year high of $263.37. The firm's fifty day moving average price is $219.30 and its 200-day moving average price is $223.35. The company has a quick ratio of 1.02, a current ratio of 1.40 and a debt-to-equity ratio of 2.39.

CDW (NASDAQ:CDW - Get Free Report) last posted its quarterly earnings results 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 firm had revenue of $5.42 billion for the quarter, compared to the consensus estimate of $5.43 billion. CDW had a net margin of 5.33% and a return on equity of 58.31%. The company's quarterly revenue was down 3.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.43 earnings per share. On average, equities research analysts anticipate that CDW Co. will post 9.38 earnings per share for the current year.

CDW Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Monday, November 25th will be given a $0.625 dividend. This is a positive change from CDW's previous quarterly dividend of $0.62. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.33%. The ex-dividend date of this dividend is Monday, November 25th. CDW's dividend payout ratio (DPR) is currently 30.32%.

Wall Street Analysts Forecast Growth

CDW has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. lowered CDW from an "overweight" rating to a "neutral" rating and reduced their target price for the company from $260.00 to $235.00 in a report on Monday, October 28th. Stifel Nicolaus raised their price objective on shares of CDW from $250.00 to $260.00 and gave the company a "buy" rating in a research report on Wednesday, July 17th. Barclays decreased their target price on shares of CDW from $229.00 to $201.00 and set an "equal weight" rating on the stock in a report on Thursday. Finally, Citigroup cut shares of CDW from a "buy" rating to a "neutral" rating and lowered their target price for the stock from $250.00 to $245.00 in a research note on Tuesday, October 1st. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $246.71.

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.