Perpetual Ltd Increases Stake in CDW Co. (NASDAQ:CDW)

Perpetual Ltd boosted its holdings in CDW Co. (NASDAQ:CDW - Free Report) by 14.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 801,516 shares of the information technology services provider's stock after buying an additional 102,004 shares during the period. CDW makes up 1.7% of Perpetual Ltd's investment portfolio, making the stock its 17th biggest holding. Perpetual Ltd owned approximately 0.60% of CDW worth $139,496,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of CDW. Federated Hermes Inc. boosted its holdings in CDW by 88.2% in the 2nd quarter. Federated Hermes Inc. now owns 1,137 shares of the information technology services provider's stock valued at $255,000 after purchasing an additional 533 shares during the period. XTX Topco Ltd bought a new position in CDW in the 2nd quarter valued at $652,000. Skandinaviska Enskilda Banken AB publ boosted its holdings in CDW by 1.1% in the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 27,870 shares of the information technology services provider's stock valued at $6,235,000 after purchasing an additional 303 shares during the period. Pacer Advisors Inc. boosted its holdings in CDW by 71.7% in the 2nd quarter. Pacer Advisors Inc. now owns 27,757 shares of the information technology services provider's stock valued at $6,213,000 after purchasing an additional 11,592 shares during the period. Finally, Sei Investments Co. boosted its holdings in CDW by 10.6% in the 2nd quarter. Sei Investments Co. now owns 29,927 shares of the information technology services provider's stock valued at $6,699,000 after purchasing an additional 2,867 shares during the period. 93.15% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

CDW has been the subject of several analyst reports. Barclays cut their price target on shares of CDW from $229.00 to $201.00 and set an "equal weight" rating for the company in a report on Thursday, October 31st. UBS Group cut their price target on shares of CDW from $233.00 to $220.00 and set a "buy" rating for the company in a report on Tuesday, January 7th. Redburn Atlantic started coverage on shares of CDW in a report on Friday, November 15th. They issued a "buy" rating and a $230.00 price target for the company. Morgan Stanley lifted their price objective on shares of CDW from $190.00 to $193.00 and gave the stock an "equal weight" rating in a report on Monday, December 16th. Finally, JPMorgan Chase & Co. downgraded shares of CDW from an "overweight" rating to a "neutral" rating and dropped their price objective for the stock from $260.00 to $235.00 in a report on Monday, October 28th. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $239.33.

CDW Trading Up 1.5 %

CDW stock traded up $2.86 during mid-day trading on Tuesday, hitting $191.59. The company's stock had a trading volume of 910,248 shares, compared to its average volume of 1,374,736. The company has a debt-to-equity ratio of 2.39, a current ratio of 1.40 and a quick ratio of 1.28. The stock has a market cap of $25.53 billion, a price-to-earnings ratio of 23.42, a price-to-earnings-growth ratio of 5.11 and a beta of 1.01. The business has a 50 day moving average price of $178.94 and a 200-day moving average price of $204.80. CDW Co. has a 12 month low of $168.43 and a 12 month high of $263.37.

CDW (NASDAQ:CDW - Get Free Report) last posted its quarterly earnings results on Wednesday, October 30th. The information technology services provider reported $2.63 earnings per share for the quarter, missing the consensus estimate of $2.68 by ($0.05). The business had revenue of $5.52 billion during 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 business's revenue for the quarter was down 2.0% on a year-over-year basis. During the same period in the prior year, the firm earned $2.60 earnings per share. As a group, analysts forecast that CDW Co. will post 8.99 EPS for the current year.

CDW Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Monday, November 25th were paid a $0.625 dividend. The ex-dividend date was Monday, November 25th. This is an increase from CDW's previous quarterly dividend of $0.62. This represents a $2.50 annualized dividend and a yield of 1.30%. CDW's 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.