CDW Co. (NASDAQ:CDW) Shares Bought by OneAscent Wealth Management LLC

OneAscent Wealth Management LLC increased its position in CDW Co. (NASDAQ:CDW) by 2.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,387 shares of the information technology services provider’s stock after buying an additional 58 shares during the quarter. OneAscent Wealth Management LLC’s holdings in CDW were worth $540,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Dimensional Fund Advisors LP increased its position in CDW by 11.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,292,674 shares of the information technology services provider’s stock worth $289,357,000 after purchasing an additional 128,263 shares during the last quarter. Lazard Asset Management LLC raised its holdings in shares of CDW by 225.9% in 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 buying an additional 611,054 shares in the last quarter. Bessemer Group Inc. increased its holdings in CDW by 1.9% during the 1st quarter. Bessemer Group Inc. now owns 824,047 shares of the information technology services provider’s stock valued at $210,775,000 after purchasing an additional 15,304 shares in the last quarter. Boston Partners increased its holdings in CDW by 1.9% during the 1st quarter. Boston Partners now owns 807,590 shares of the information technology services provider’s stock valued at $206,519,000 after purchasing an additional 15,178 shares in the last quarter. Finally, Perpetual Ltd acquired a new stake in shares of CDW in the 3rd quarter valued at $158,300,000. Institutional investors and hedge funds own 93.15% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on CDW shares. Barclays reduced their price target on CDW from $229.00 to $201.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 31st. Citigroup downgraded shares of CDW from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $250.00 to $245.00 in a research report on Tuesday, October 1st. JPMorgan Chase & Co. downgraded CDW from an “overweight” rating to a “neutral” rating and cut their price target for the company from $260.00 to $235.00 in a report on Monday, October 28th. Finally, Redburn Atlantic assumed coverage on CDW in a report on Friday. They set a “buy” rating and a $230.00 price target for the company. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $244.63.

CDW Price Performance

CDW traded up $0.21 during trading on Monday, hitting $177.84. 93,362 shares of the stock traded hands, compared to its average volume of 877,570. CDW Co. has a twelve month low of $175.94 and a twelve month high of $263.37. The company has a debt-to-equity ratio of 2.39, a current ratio of 1.40 and a quick ratio of 1.28. The business has a 50 day moving average price of $213.49 and a 200 day moving average price of $219.94. The company has a market cap of $23.70 billion, a price-to-earnings ratio of 21.72, a PEG ratio of 4.96 and a beta of 1.05.

CDW (NASDAQ:CDW) last announced 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). CDW had a net margin of 5.33% and a return on equity of 58.31%. The firm 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 company posted $2.60 earnings per share. The firm’s revenue was down 2.0% on a year-over-year basis. Equities research analysts forecast that CDW Co. will post 9.05 earnings per share for the current fiscal year.

CDW Increases Dividend

The company also recently announced 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 represents a $2.50 dividend on an annualized basis and a yield of 1.41%. 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 dividend payout ratio is currently 30.32%.

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.