Norris Perne & French LLP MI Has $12.40 Million Stock Holdings in CDW Co. (NASDAQ:CDW)

Norris Perne & French LLP MI lifted its stake in CDW Co. (NASDAQ:CDW) by 1.0% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 54,814 shares of the information technology services provider’s stock after acquiring an additional 534 shares during the quarter. Norris Perne & French LLP MI’s holdings in CDW were worth $12,404,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Acadian Asset Management LLC boosted its holdings in shares of CDW by 211.5% in the 1st quarter. Acadian Asset Management LLC now owns 44,205 shares of the information technology services provider’s stock valued at $11,302,000 after buying an additional 30,012 shares during the last quarter. Mediolanum International Funds Ltd bought a new position in shares of CDW in the 1st quarter valued at about $2,461,000. Meeder Asset Management Inc. increased its stake in shares of CDW by 33,447.6% during the 1st quarter. Meeder Asset Management Inc. now owns 7,045 shares of the information technology services provider’s stock worth $1,802,000 after purchasing an additional 7,024 shares during the last quarter. Peak Financial Advisors LLC bought a new stake in shares of CDW in the 2nd quarter valued at about $2,854,000. Finally, M&G Plc acquired a new stake in CDW in the 1st quarter valued at about $8,528,000. Institutional investors own 93.15% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on CDW shares. Citigroup downgraded CDW from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $250.00 to $245.00 in a research report on Tuesday, October 1st. JPMorgan Chase & Co. downgraded shares of CDW from an “overweight” rating to a “neutral” rating and decreased their price objective for the company from $260.00 to $235.00 in a report on Monday. Barclays lowered 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. Finally, Stifel Nicolaus upped their target price on CDW from $250.00 to $260.00 and gave the company a “buy” rating in a research report on Wednesday, July 17th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $246.71.

CDW Trading Down 3.5 %

Shares of CDW stock opened at $188.23 on Friday. The stock has a 50 day simple moving average of $220.86 and a 200 day simple moving average of $223.97. CDW Co. has a 1 year low of $185.04 and a 1 year high of $263.37. The company has a current ratio of 1.40, a quick ratio of 1.02 and a debt-to-equity ratio of 2.39. The stock has a market cap of $25.14 billion, a P/E ratio of 23.01, a price-to-earnings-growth ratio of 2.96 and a beta of 1.03.

CDW (NASDAQ:CDW) last posted its quarterly earnings data on Wednesday, July 31st. The information technology services provider reported $2.34 earnings per share for the quarter, missing the consensus estimate of $2.39 by ($0.05). CDW had a return on equity of 58.31% and a net margin of 5.33%. The firm had revenue of $5.42 billion for the quarter, compared to the consensus estimate of $5.43 billion. During the same period in the prior year, the company earned $2.43 EPS. The company’s revenue for the quarter was down 3.6% compared to the same quarter last year. On average, research analysts predict that CDW Co. will post 9.38 earnings per share for the current fiscal year.

CDW Increases Dividend

The firm also recently announced 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. The ex-dividend date is Monday, November 25th. This is a boost from CDW’s previous quarterly dividend of $0.62. This represents a $2.50 annualized dividend and a yield of 1.33%. CDW’s dividend payout ratio is presently 30.32%.

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.