Thrivent Financial for Lutherans Acquires 68,023 Shares of CDW Co. (NASDAQ:CDW)

Thrivent Financial for Lutherans increased its stake in CDW Co. (NASDAQ:CDW - Free Report) by 12.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 599,900 shares of the information technology services provider's stock after buying an additional 68,023 shares during the quarter. Thrivent Financial for Lutherans owned approximately 0.45% of CDW worth $135,758,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Quest Partners LLC acquired a new stake in shares of CDW in the 2nd quarter valued at approximately $35,000. ORG Partners LLC acquired a new stake in CDW during the 2nd quarter valued at $34,000. Canoe Financial LP acquired a new stake in CDW during the 3rd quarter valued at $37,000. Fortitude Family Office LLC lifted its holdings in CDW by 350.0% during 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 last quarter. Finally, Summit Securities Group LLC acquired a new stake in CDW during the 2nd quarter valued at $40,000. Institutional investors and hedge funds own 93.15% of the company's stock.

CDW Stock Performance

Shares of CDW traded down $3.14 during midday trading on Friday, reaching $177.63. 2,703,465 shares of the stock were exchanged, compared to its average volume of 1,437,995. CDW Co. has a twelve month low of $175.94 and a twelve month high of $263.37. The company has a quick ratio of 1.28, a current ratio of 1.40 and a debt-to-equity ratio of 2.39. The company has a market cap of $23.67 billion, a P/E ratio of 21.72, a PEG ratio of 4.96 and a beta of 1.05. The stock's 50 day simple moving average is $213.49 and its 200 day simple moving average is $219.94.

CDW (NASDAQ:CDW - Get Free Report) last issued 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 return on equity of 58.31% and a net margin of 5.33%. The company had revenue of $5.52 billion during the quarter, compared to the consensus estimate of $5.72 billion. During the same quarter in the previous year, the business posted $2.60 EPS. The firm's revenue for the quarter was down 2.0% on a year-over-year basis. On average, sell-side analysts expect that CDW Co. will post 9.05 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 given a $0.625 dividend. The ex-dividend date is Monday, November 25th. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.41%. This is a boost from CDW's previous quarterly dividend of $0.62. CDW's dividend payout ratio (DPR) is presently 30.32%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on CDW shares. Barclays cut their price target on CDW from $229.00 to $201.00 and set an "equal weight" rating for the company in a report on Thursday, October 31st. JPMorgan Chase & Co. downgraded CDW from an "overweight" rating to a "neutral" rating and cut their price target for the company from $260.00 to $235.00 in a report on Monday, October 28th. Redburn Atlantic started coverage on CDW in a report on Friday. They set a "buy" rating and a $230.00 price target for the company. Finally, Citigroup downgraded CDW from a "buy" rating to a "neutral" rating and cut their price target for the company from $250.00 to $245.00 in a report on Tuesday, October 1st. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat, CDW has an average rating of "Moderate Buy" and a consensus price target of $244.63.

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.