Brown Brothers Harriman & Co. boosted its stake in CDW Co. (NASDAQ:CDW – Free Report) by 13.4% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,373 shares of the information technology services provider’s stock after purchasing an additional 162 shares during the quarter. Brown Brothers Harriman & Co.’s holdings in CDW were worth $311,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently bought and sold shares of CDW. RDA Financial Network grew its stake in CDW by 3.0% during the second quarter. RDA Financial Network now owns 1,587 shares of the information technology services provider’s stock worth $355,000 after buying an additional 46 shares during the period. PDS Planning Inc lifted its position in shares of CDW by 4.3% during the third quarter. PDS Planning Inc now owns 1,186 shares of the information technology services provider’s stock worth $268,000 after purchasing an additional 49 shares in the last quarter. Oregon Public Employees Retirement Fund lifted its position in shares of CDW by 0.5% during the second quarter. Oregon Public Employees Retirement Fund now owns 11,541 shares of the information technology services provider’s stock worth $2,583,000 after purchasing an additional 54 shares in the last quarter. Profund Advisors LLC lifted its position in shares of CDW by 0.5% during the second quarter. Profund Advisors LLC now owns 12,469 shares of the information technology services provider’s stock worth $2,791,000 after purchasing an additional 58 shares in the last quarter. Finally, OneAscent Wealth Management LLC lifted its position in shares of CDW by 2.5% during the third quarter. OneAscent Wealth Management LLC now owns 2,387 shares of the information technology services provider’s stock worth $540,000 after purchasing an additional 58 shares in the last quarter. 93.15% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
A number of research analysts have recently commented on the stock. Barclays reduced their target price on shares of CDW from $229.00 to $201.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 31st. Redburn Atlantic assumed coverage on shares of CDW in a research report on Friday, November 15th. They set a “buy” rating and a $230.00 target price on the stock. JPMorgan Chase & Co. cut shares of CDW from an “overweight” rating to a “neutral” rating and reduced their target price for the stock from $260.00 to $235.00 in a research report on Monday, October 28th. Finally, Citigroup cut shares of CDW from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $250.00 to $245.00 in a research report on Tuesday, October 1st. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $244.63.
CDW Trading Down 0.6 %
CDW opened at $176.75 on Thursday. The stock has a market capitalization of $23.55 billion, a PE ratio of 21.61, a P/E/G ratio of 5.10 and a beta of 1.05. The firm’s fifty day moving average price is $207.78 and its 200 day moving average price is $217.81. The company has a debt-to-equity ratio of 2.39, a current ratio of 1.40 and a quick ratio of 1.28. CDW Co. has a 12-month low of $172.95 and a 12-month high of $263.37.
CDW (NASDAQ:CDW – Get Free Report) 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). The business had revenue of $5.52 billion for the quarter, compared to analyst estimates of $5.72 billion. CDW had a return on equity of 58.31% and a net margin of 5.33%. The firm’s revenue for the quarter was down 2.0% on a year-over-year basis. During the same period last year, the company posted $2.60 earnings per share. As a group, research analysts expect that CDW Co. will post 8.99 EPS 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 issued a dividend of $0.625 per share. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.41%. This is a boost from CDW’s previous quarterly dividend of $0.62. The ex-dividend date is Monday, November 25th. CDW’s dividend payout ratio is 30.56%.
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.
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