United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund purchased a new position in shares of CDW Co. (NASDAQ:CDW - Free Report) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 56,391 shares of the information technology services provider's stock, valued at approximately $12,761,000.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in shares of CDW by 4.6% in the 1st quarter. Vanguard Group Inc. now owns 16,407,542 shares of the information technology services provider's stock valued at $4,196,721,000 after buying an additional 714,393 shares in the last quarter. Perpetual Ltd acquired a new position in shares of CDW in the 3rd quarter valued at $158,300,000. Lazard Asset Management LLC boosted its holdings in shares of CDW by 225.9% in the 1st quarter. Lazard Asset Management LLC now owns 881,586 shares of the information technology services provider's stock valued at $225,491,000 after buying an additional 611,054 shares in the last quarter. Ceredex Value Advisors LLC acquired a new position in shares of CDW in the 2nd quarter valued at $79,549,000. Finally, Canada Pension Plan Investment Board boosted its holdings in shares of CDW by 2,045.4% in the 2nd quarter. Canada Pension Plan Investment Board now owns 294,302 shares of the information technology services provider's stock valued at $65,877,000 after buying an additional 280,584 shares in the last quarter. Institutional investors and hedge funds own 93.15% of the company's stock.
CDW Stock Performance
Shares of CDW stock traded down $5.24 during mid-day trading on Thursday, hitting $180.77. The stock had a trading volume of 2,340,867 shares, compared to its average volume of 872,856. CDW Co. has a fifty-two week low of $180.35 and a fifty-two week high of $263.37. The firm has a market cap of $24.09 billion, a PE ratio of 22.10, a PEG ratio of 5.35 and a beta of 1.05. 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 company's 50-day simple moving average is $214.18 and its 200-day simple moving average is $220.53.
CDW (NASDAQ:CDW - Get Free Report) last released its earnings results on Wednesday, October 30th. The information technology services provider reported $2.63 EPS for the quarter, missing the consensus estimate of $2.68 by ($0.05). CDW had a return on equity of 58.31% and a net margin of 5.33%. The firm had revenue of $5.52 billion during the quarter, compared to analyst estimates of $5.72 billion. During the same quarter last year, the business posted $2.60 EPS. The firm's revenue was down 2.0% on a year-over-year basis. Sell-side analysts anticipate that CDW Co. will post 9.05 earnings per share for the current year.
CDW Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Monday, November 25th will be paid a $0.625 dividend. This is a boost from CDW's previous quarterly dividend of $0.62. The ex-dividend date is Monday, November 25th. This represents a $2.50 annualized dividend and a dividend yield of 1.38%. CDW's dividend payout ratio (DPR) is 30.32%.
Analyst Upgrades and Downgrades
CDW has been the subject of a number of recent research reports. Stifel Nicolaus increased their price target on shares of CDW from $250.00 to $260.00 and gave the stock a "buy" rating in a research note on Wednesday, July 17th. Barclays decreased their price target on shares of CDW from $229.00 to $201.00 and set an "equal weight" rating for the company in a research note on Thursday, October 31st. JPMorgan Chase & Co. cut shares of CDW from an "overweight" rating to a "neutral" rating and decreased their price target for the stock from $260.00 to $235.00 in a research note on Monday, October 28th. Finally, Citigroup cut shares of CDW from a "buy" rating to a "neutral" rating and decreased their price target for the stock from $250.00 to $245.00 in a research note on Tuesday, October 1st. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $246.71.
Read Our Latest Stock Analysis on CDW
CDW Company Profile
(
Free Report)
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.
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