Crescent Grove Advisors LLC Acquires 1,200 Shares of CDW Co. (NASDAQ:CDW)

Crescent Grove Advisors LLC grew its holdings in shares of CDW Co. (NASDAQ:CDW) by 0.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 138,948 shares of the information technology services provider’s stock after acquiring an additional 1,200 shares during the quarter. CDW accounts for approximately 3.2% of Crescent Grove Advisors LLC’s investment portfolio, making the stock its 6th largest position. Crescent Grove Advisors LLC’s holdings in CDW were worth $31,444,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. grew its position in 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 worth $4,196,721,000 after acquiring an additional 714,393 shares during the last quarter. Perpetual Ltd bought a new stake in shares of CDW during the third quarter worth about $158,300,000. Lazard Asset Management LLC increased its stake in shares of CDW by 225.9% in the first 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 during the period. Ceredex Value Advisors LLC bought a new position in CDW in the 2nd quarter valued at approximately $79,549,000. Finally, Canada Pension Plan Investment Board boosted its position in 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 worth $65,877,000 after buying an additional 280,584 shares during the period. Institutional investors own 93.15% of the company’s stock.

CDW Stock Performance

CDW stock opened at $192.99 on Wednesday. The firm has a market cap of $25.72 billion, a PE ratio of 23.59, a price-to-earnings-growth ratio of 5.07 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. The stock has a 50-day moving average price of $217.85 and a 200-day moving average price of $222.52. CDW Co. has a 1-year low of $187.73 and a 1-year high of $263.37.

CDW (NASDAQ:CDW) last issued its earnings results on Wednesday, October 30th. The information technology services provider reported $2.63 earnings per share 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 business 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 firm posted $2.60 earnings per share. The company’s revenue for the quarter was down 2.0% compared to the same quarter last year. As a group, equities research analysts expect that CDW Co. will post 9.38 earnings per share for the current year.

CDW Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Monday, November 25th will be given a dividend of $0.625 per share. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.30%. The ex-dividend date of this dividend 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 Upgrades and Downgrades

Several research firms have recently issued reports on CDW. Citigroup downgraded shares of CDW from a “buy” rating to a “neutral” rating and dropped their price target for the company from $250.00 to $245.00 in a research note on Tuesday, October 1st. JPMorgan Chase & Co. lowered CDW from an “overweight” rating to a “neutral” rating and lowered their target price for the stock from $260.00 to $235.00 in a research report on Monday, October 28th. Stifel Nicolaus lifted their target price on CDW from $250.00 to $260.00 and gave the stock a “buy” rating in a report on Wednesday, July 17th. Finally, Barclays decreased their price target 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. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $246.71.

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.