CDW Co. (NASDAQ:CDW) Shares Purchased by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. boosted its stake in shares of CDW Co. (NASDAQ:CDW - Free Report) by 1.9% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 331,969 shares of the information technology services provider's stock after acquiring an additional 6,161 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned approximately 0.25% of CDW worth $75,125,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of CDW. Quest Partners LLC acquired a new stake in CDW in the 2nd quarter valued at approximately $35,000. ORG Partners LLC bought a new position in shares of CDW in the second quarter valued at about $34,000. Canoe Financial LP bought a new position in shares of CDW during the third quarter worth approximately $37,000. Fortitude Family Office LLC boosted its holdings 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 purchasing an additional 133 shares during the period. Finally, Summit Securities Group LLC bought a new stake in shares of CDW during the 2nd quarter valued at $40,000. Institutional investors own 93.15% of the company's stock.

CDW Stock Performance

Shares of NASDAQ CDW traded down $3.14 during midday trading on Friday, hitting $177.63. 2,703,465 shares of the stock traded hands, compared to its average volume of 881,102. The firm has a 50-day moving average of $213.49 and a two-hundred day moving average of $220.05. The firm has a market capitalization of $23.67 billion, a P/E ratio of 21.72, a PEG ratio of 5.19 and a beta of 1.05. CDW Co. has a one year low of $175.94 and a one year high of $263.37. The company has a debt-to-equity ratio of 2.39, a quick ratio of 1.28 and a current ratio of 1.40.

CDW (NASDAQ:CDW - Get Free Report) last posted its quarterly earnings results on Wednesday, October 30th. The information technology services provider reported $2.63 EPS for the quarter, missing analysts' consensus estimates of $2.68 by ($0.05). CDW had a net margin of 5.33% and a return on equity of 58.31%. The business had revenue of $5.52 billion for the quarter, compared to the consensus estimate of $5.72 billion. During the same period in the prior year, the business earned $2.60 earnings per share. CDW's revenue was down 2.0% compared to the same quarter last year. On average, equities analysts forecast that CDW Co. will post 9.05 EPS for the current fiscal year.

CDW Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Monday, November 25th will be given a dividend of $0.625 per share. The ex-dividend date of this dividend is Monday, November 25th. This is an increase from CDW's previous quarterly dividend of $0.62. This represents a $2.50 dividend on an annualized basis and a yield of 1.41%. CDW's dividend payout ratio is 30.32%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on CDW shares. Citigroup downgraded CDW from a "buy" rating to a "neutral" rating and dropped their price objective for the company from $250.00 to $245.00 in a research note on Tuesday, October 1st. Redburn Atlantic began coverage on shares of CDW in a research note on Friday. They issued a "buy" rating and a $230.00 price objective for the company. Barclays cut 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. Finally, JPMorgan Chase & Co. downgraded CDW from an "overweight" rating to a "neutral" rating and decreased their target price for the stock from $260.00 to $235.00 in a research 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 stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $244.63.

About CDW

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.