CDW Co. (NASDAQ:CDW) Shares Bought by CIBC Asset Management Inc

CIBC Asset Management Inc raised its holdings in CDW Co. (NASDAQ:CDW) by 1.2% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 41,674 shares of the information technology services provider’s stock after purchasing an additional 504 shares during the quarter. CIBC Asset Management Inc’s holdings in CDW were worth $9,431,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the business. RDA Financial Network increased its stake in CDW by 3.0% in the second quarter. RDA Financial Network now owns 1,587 shares of the information technology services provider’s stock valued at $355,000 after purchasing an additional 46 shares during the period. PDS Planning Inc increased its stake in CDW by 4.3% in the third quarter. PDS Planning Inc now owns 1,186 shares of the information technology services provider’s stock valued at $268,000 after purchasing an additional 49 shares during the period. Oregon Public Employees Retirement Fund increased its stake in CDW by 0.5% in the second quarter. Oregon Public Employees Retirement Fund now owns 11,541 shares of the information technology services provider’s stock valued at $2,583,000 after purchasing an additional 54 shares during the period. Profund Advisors LLC increased its stake in CDW by 0.5% in the second quarter. Profund Advisors LLC now owns 12,469 shares of the information technology services provider’s stock valued at $2,791,000 after purchasing an additional 58 shares during the period. Finally, Elo Mutual Pension Insurance Co increased its stake in shares of CDW by 0.5% during the second quarter. Elo Mutual Pension Insurance Co now owns 12,301 shares of the information technology services provider’s stock worth $2,753,000 after acquiring an additional 61 shares during the period. 93.15% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CDW has been the topic of a number of recent analyst reports. Redburn Atlantic initiated coverage on shares of CDW in a research note on Friday. They set a “buy” rating and a $230.00 price target on the stock. Barclays dropped their price target on shares of CDW from $229.00 to $201.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 31st. JPMorgan Chase & Co. lowered shares of CDW from an “overweight” rating to a “neutral” rating and dropped their price target for the stock from $260.00 to $235.00 in a research note on Monday, October 28th. Finally, Citigroup downgraded shares of CDW from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $250.00 to $245.00 in a report on Tuesday, October 1st. 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 MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $244.63.

CDW Stock Performance

Shares of CDW opened at $177.63 on Friday. CDW Co. has a 1 year low of $175.94 and a 1 year high of $263.37. The company has a debt-to-equity ratio of 2.39, a quick ratio of 1.28 and a current ratio of 1.40. The company’s 50 day simple moving average is $213.49 and its 200 day simple moving average is $219.90. The company has a market capitalization of $23.67 billion, a price-to-earnings ratio of 21.72, a PEG ratio of 5.19 and a beta of 1.05.

CDW (NASDAQ:CDW) last issued its quarterly earnings results on Wednesday, October 30th. The information technology services provider reported $2.63 EPS for the quarter, missing the consensus estimate of $2.68 by ($0.05). CDW had a return on equity of 58.31% and a net margin of 5.33%. The company had revenue of $5.52 billion for the quarter, compared to analyst estimates of $5.72 billion. During the same period last year, the company posted $2.60 EPS. The business’s revenue for the quarter was down 2.0% on a year-over-year basis. On average, sell-side analysts predict that CDW Co. will post 9.05 EPS for the current year.

CDW Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Monday, November 25th will be given a $0.625 dividend. The ex-dividend date is Monday, November 25th. This represents a $2.50 annualized dividend and a dividend yield of 1.41%. This is a positive change from CDW’s previous quarterly dividend of $0.62. CDW’s dividend payout ratio is presently 30.56%.

About CDW

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.