CDW Co. (NASDAQ:CDW) Stake Boosted by Swiss National Bank

Swiss National Bank grew its stake in shares of CDW Co. (NASDAQ:CDW) by 0.4% in the 3rd quarter, Holdings Channel reports. The firm owned 398,900 shares of the information technology services provider’s stock after acquiring an additional 1,500 shares during the quarter. Swiss National Bank’s holdings in CDW were worth $90,271,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Orion Portfolio Solutions LLC lifted its position in CDW by 6.5% in the first quarter. Orion Portfolio Solutions LLC now owns 6,185 shares of the information technology services provider’s stock worth $1,582,000 after purchasing an additional 377 shares during the period. O Shaughnessy Asset Management LLC raised its stake in CDW by 6.6% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 23,923 shares of the information technology services provider’s stock valued at $6,119,000 after purchasing an additional 1,490 shares during the period. Lake Street Advisors Group LLC increased its stake in shares of CDW by 12.9% in the first quarter. Lake Street Advisors Group LLC now owns 1,109 shares of the information technology services provider’s stock worth $284,000 after acquiring an additional 127 shares during the last quarter. CANADA LIFE ASSURANCE Co increased its stake in shares of CDW by 47.4% in the first quarter. CANADA LIFE ASSURANCE Co now owns 110,782 shares of the information technology services provider’s stock worth $28,365,000 after acquiring an additional 35,613 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of CDW in the first quarter worth $344,000. 93.15% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. JPMorgan Chase & Co. downgraded shares of 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. Barclays lowered 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. They set a “buy” rating and a $230.00 target price on the stock. Finally, Citigroup downgraded shares of CDW from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $250.00 to $245.00 in a research 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 stock. According to MarketBeat.com, CDW currently has an average rating of “Moderate Buy” and a consensus price target of $244.63.

CDW Trading Up 0.2 %

Shares of CDW opened at $178.07 on Tuesday. The stock has a fifty day moving average price of $212.76 and a two-hundred day moving average price of $219.65. 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 has a market cap of $23.73 billion, a price-to-earnings ratio of 21.77, a PEG ratio of 4.96 and a beta of 1.05. CDW Co. has a 52-week low of $175.94 and a 52-week high of $263.37.

CDW (NASDAQ:CDW) last announced its 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). The business had revenue of $5.52 billion for the quarter, compared to the consensus estimate of $5.72 billion. CDW had a return on equity of 58.31% and a net margin of 5.33%. CDW’s revenue for the quarter was down 2.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.60 EPS. Analysts predict that CDW Co. will post 9.05 EPS for the current fiscal year.

CDW Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Monday, November 25th will be issued a $0.625 dividend. This is a positive change from CDW’s previous quarterly dividend of $0.62. This represents a $2.50 annualized dividend and a yield of 1.40%. The ex-dividend date of this dividend is Monday, November 25th. CDW’s dividend payout ratio is currently 30.32%.

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.