Vaughan Nelson Investment Management L.P. Raises Holdings in CDW Co. (NASDAQ:CDW)

Vaughan Nelson Investment Management L.P. raised its stake in shares of CDW Co. (NASDAQ:CDW - Free Report) by 20.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 184,613 shares of the information technology services provider's stock after acquiring an additional 31,794 shares during the period. Vaughan Nelson Investment Management L.P. owned about 0.14% of CDW worth $41,778,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Vanguard Group Inc. increased its position in shares of CDW by 4.6% during 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 purchasing an additional 714,393 shares during the last quarter. Perpetual Ltd purchased a new stake in shares of CDW during the 3rd quarter valued at $158,300,000. Lazard Asset Management LLC increased its position in shares of CDW by 225.9% during 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 purchasing an additional 611,054 shares during the last quarter. Ceredex Value Advisors LLC purchased a new stake in shares of CDW during the 2nd quarter valued at $79,549,000. Finally, Canada Pension Plan Investment Board increased its position in shares of CDW by 2,045.4% during 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 purchasing an additional 280,584 shares during the last quarter. 93.15% of the stock is currently owned by institutional investors.

CDW Stock Down 1.7 %

Shares of CDW traded down $3.14 during trading hours on Friday, hitting $177.63. The company had a trading volume of 2,703,465 shares, compared to its average volume of 1,437,995. The company's fifty day moving average price is $213.49 and its two-hundred day moving average price is $219.90. CDW Co. has a one year low of $175.94 and a one year high of $263.37. The company has a market capitalization of $23.67 billion, a PE ratio of 21.72, a price-to-earnings-growth ratio of 4.96 and a beta of 1.05. The company has a current ratio of 1.40, a quick ratio of 1.28 and a debt-to-equity ratio of 2.39.

CDW (NASDAQ:CDW - Get Free Report) last announced its earnings results 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 business had revenue of $5.52 billion for the quarter, compared to analyst estimates of $5.72 billion. During the same period in the prior year, the company earned $2.60 earnings per share. The company's quarterly revenue was down 2.0% on a year-over-year basis. As a group, equities analysts forecast that CDW Co. will post 9.05 earnings per share for the current fiscal year.

CDW Increases Dividend

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

Analyst Ratings Changes

Several research analysts have commented on CDW shares. Barclays cut their target price on CDW from $229.00 to $201.00 and set an "equal weight" rating for the company in a research note on Thursday, October 31st. Redburn Atlantic initiated coverage on CDW in a research report on Friday. They issued a "buy" rating and a $230.00 target price on the stock. Citigroup cut CDW from a "buy" rating to a "neutral" rating and dropped their target price for the stock from $250.00 to $245.00 in a research report on Tuesday, October 1st. Finally, JPMorgan Chase & Co. cut CDW from an "overweight" rating to a "neutral" rating and dropped 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 assigned a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target 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.