ICICI Prudential Asset Management Co Ltd Increases Stock Position in CDW Co. (NASDAQ:CDW)

ICICI Prudential Asset Management Co Ltd lifted its position in shares of CDW Co. (NASDAQ:CDW) by 18.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,743 shares of the information technology services provider’s stock after purchasing an additional 267 shares during the period. ICICI Prudential Asset Management Co Ltd’s holdings in CDW were worth $394,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in CDW. Vanguard Group Inc. boosted its stake 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 worth $4,196,721,000 after buying an additional 714,393 shares during the last quarter. Perpetual Ltd purchased a new position in shares of CDW during the 3rd quarter valued at $158,300,000. Lazard Asset Management LLC grew its stake 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 worth $225,491,000 after acquiring an additional 611,054 shares during the period. Ceredex Value Advisors LLC purchased a new stake in CDW in the 2nd quarter worth about $79,549,000. Finally, Canada Pension Plan Investment Board raised its stake in 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 acquiring an additional 280,584 shares during the period. 93.15% of the stock is currently owned by hedge funds and other institutional investors.

CDW Stock Performance

NASDAQ:CDW opened at $186.01 on Thursday. The stock has a market cap of $24.79 billion, a P/E ratio of 22.74, a PEG ratio of 5.35 and a beta of 1.05. 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 business’s 50-day moving average price is $214.86 and its two-hundred day moving average price is $220.81. CDW Co. has a twelve month low of $185.70 and a twelve month high of $263.37.

CDW (NASDAQ:CDW) last released 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). The company had revenue of $5.52 billion during the quarter, compared to analysts’ expectations of $5.72 billion. CDW had a return on equity of 58.31% and a net margin of 5.33%. CDW’s quarterly revenue was down 2.0% on a year-over-year basis. During the same period in the prior year, the firm earned $2.60 EPS. As a group, equities analysts predict that CDW Co. will post 9.05 EPS 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 given a dividend of $0.625 per share. This is an increase from CDW’s previous quarterly dividend of $0.62. The ex-dividend date is Monday, November 25th. This represents a $2.50 dividend on an annualized basis and a yield of 1.34%. CDW’s dividend payout ratio (DPR) is presently 30.32%.

Analyst Ratings Changes

A number of brokerages have weighed in on CDW. JPMorgan Chase & Co. lowered shares of CDW from an “overweight” rating to a “neutral” rating and cut their target price for the stock from $260.00 to $235.00 in a research report on Monday, October 28th. Citigroup downgraded shares of CDW from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $250.00 to $245.00 in a report on Tuesday, October 1st. Barclays reduced their price objective 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. Finally, Stifel Nicolaus increased their target price on CDW from $250.00 to $260.00 and gave the stock a “buy” rating in a research report on Wednesday, July 17th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, CDW presently has an average rating of “Hold” and a consensus price target of $246.71.

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.