CDW Co. (NASDAQ:CDW) Shares Bought by National Bank of Canada FI

National Bank of Canada FI lifted its holdings in CDW Co. (NASDAQ:CDW - Free Report) by 65.3% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 81,116 shares of the information technology services provider's stock after purchasing an additional 32,056 shares during the quarter. National Bank of Canada FI owned about 0.06% of CDW worth $18,357,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the business. State Street Corp raised its position in CDW by 1.1% during the 3rd quarter. State Street Corp now owns 5,719,348 shares of the information technology services provider's stock worth $1,294,288,000 after buying an additional 64,702 shares during the last quarter. Massachusetts Financial Services Co. MA purchased a new position in shares of CDW during the third quarter worth $416,111,000. Janus Henderson Group PLC lifted its position in CDW by 7,029.1% during the third quarter. Janus Henderson Group PLC now owns 1,466,597 shares of the information technology services provider's stock valued at $331,891,000 after purchasing an additional 1,446,025 shares during the period. Dimensional Fund Advisors LP boosted its holdings in CDW by 11.0% in the second quarter. Dimensional Fund Advisors LP now owns 1,292,674 shares of the information technology services provider's stock valued at $289,357,000 after purchasing an additional 128,263 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in CDW by 1.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 775,240 shares of the information technology services provider's stock worth $175,437,000 after purchasing an additional 7,764 shares during the period. 93.15% of the stock is owned by institutional investors and hedge funds.

CDW Trading Down 1.9 %

NASDAQ:CDW traded down $3.45 on Tuesday, reaching $179.01. 1,448,499 shares of the company's stock were exchanged, compared to its average volume of 920,525. The business has a fifty day moving average of $199.44 and a 200-day moving average of $214.76. The company has a quick ratio of 1.28, a current ratio of 1.40 and a debt-to-equity ratio of 2.39. CDW Co. has a 52-week low of $172.95 and a 52-week high of $263.37. The firm has a market capitalization of $23.85 billion, a price-to-earnings ratio of 21.78, a price-to-earnings-growth ratio of 5.06 and a beta of 1.02.

CDW (NASDAQ:CDW - Get Free Report) last announced its quarterly earnings data on Wednesday, October 30th. The information technology services provider reported $2.63 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.68 by ($0.05). CDW had a net margin of 5.33% and a return on equity of 58.31%. The company had revenue of $5.52 billion during the quarter, compared to analysts' expectations of $5.72 billion. During the same quarter in the previous year, the business posted $2.60 EPS. The business's quarterly revenue was down 2.0% compared to the same quarter last year. As a group, analysts expect that CDW Co. will post 8.99 earnings per share for the current year.

CDW Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Monday, November 25th will be given a $0.625 dividend. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.40%. This is an increase 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 30.56%.

Wall Street Analyst Weigh In

CDW has been the topic of a number of recent analyst reports. Barclays lowered their price target on shares of CDW from $229.00 to $201.00 and set an "equal weight" rating on the stock in a report on Thursday, October 31st. Redburn Atlantic assumed coverage on CDW in a research report on Friday, November 15th. They set a "buy" rating and a $230.00 target price on the stock. Citigroup cut CDW from a "buy" rating to a "neutral" rating and reduced their price target for the stock from $250.00 to $245.00 in a report on Tuesday, October 1st. Finally, JPMorgan Chase & Co. lowered CDW from an "overweight" rating to a "neutral" rating and dropped their price objective for the company from $260.00 to $235.00 in a report on Monday, October 28th. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $244.63.

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.