Royal London Asset Management Ltd. Decreases Stake in CDW Co. (NASDAQ:CDW)

Royal London Asset Management Ltd. cut its stake in shares of CDW Co. (NASDAQ:CDW) by 0.3% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 280,763 shares of the information technology services provider’s stock after selling 804 shares during the period. Royal London Asset Management Ltd. owned approximately 0.21% of CDW worth $63,537,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. IHT Wealth Management LLC grew its position in CDW by 16.5% in the 3rd quarter. IHT Wealth Management LLC now owns 1,635 shares of the information technology services provider’s stock valued at $353,000 after buying an additional 231 shares in the last quarter. Investment Management Corp of Ontario increased its stake in CDW by 49.5% in the 3rd quarter. Investment Management Corp of Ontario now owns 4,531 shares of the information technology services provider’s stock worth $1,025,000 after purchasing an additional 1,500 shares in the last quarter. Janus Henderson Group PLC grew its stake in CDW by 7,029.1% during the 3rd quarter. Janus Henderson Group PLC now owns 1,466,597 shares of the information technology services provider’s stock valued at $331,891,000 after acquiring an additional 1,446,025 shares in the last quarter. Hilltop Holdings Inc. grew its stake in CDW by 34.9% during the 3rd quarter. Hilltop Holdings Inc. now owns 1,714 shares of the information technology services provider’s stock valued at $388,000 after acquiring an additional 443 shares in the last quarter. Finally, Holocene Advisors LP acquired a new stake in shares of CDW during the 3rd quarter valued at about $172,217,000. 93.15% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have recently issued reports on CDW. Barclays reduced their price target on CDW from $229.00 to $201.00 and set an “equal weight” rating for the company in a report on Thursday, October 31st. Citigroup cut CDW from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $250.00 to $245.00 in a research report on Tuesday, October 1st. JPMorgan Chase & Co. cut CDW from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $260.00 to $235.00 in a research report on Monday, October 28th. Finally, Redburn Atlantic began coverage on CDW in a research report on Friday, November 15th. They issued a “buy” rating and a $230.00 price target on the stock. Four research 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 a consensus rating of “Moderate Buy” and an average price target of $244.63.

CDW Trading Up 0.0 %

Shares of CDW stock opened at $178.30 on Friday. The firm has a market capitalization of $23.76 billion, a P/E ratio of 21.80, a P/E/G ratio of 5.05 and a beta of 1.02. CDW Co. has a twelve month low of $172.95 and a twelve month high of $263.37. The stock’s fifty day simple moving average is $201.24 and its 200 day simple moving average is $215.70. The company has a quick ratio of 1.28, a current ratio of 1.40 and a debt-to-equity ratio of 2.39.

CDW (NASDAQ:CDW) last posted its quarterly 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 firm 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 quarterly revenue was down 2.0% compared to the same quarter last year. During the same period last year, the company posted $2.60 earnings per share. As a group, sell-side analysts predict that CDW Co. will post 8.99 EPS for the current fiscal year.

CDW Increases Dividend

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