Sumitomo Mitsui Trust Group Inc. Acquires 6,161 Shares of CDW Co. (NASDAQ:CDW)

Sumitomo Mitsui Trust Group Inc. raised its holdings in CDW Co. (NASDAQ:CDW) by 1.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 331,969 shares of the information technology services provider’s stock after acquiring an additional 6,161 shares during the period. Sumitomo Mitsui Trust Group Inc. owned about 0.25% of CDW worth $75,125,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Quest Partners LLC acquired a new position in CDW during the 2nd quarter worth approximately $35,000. ORG Partners LLC bought a new position in shares of CDW in the 2nd quarter valued at $34,000. Canoe Financial LP bought a new position in shares of CDW in the 3rd quarter valued at $37,000. Fortitude Family Office LLC boosted its holdings in shares of CDW by 350.0% during the 3rd quarter. Fortitude Family Office LLC now owns 171 shares of the information technology services provider’s stock valued at $39,000 after acquiring an additional 133 shares in the last quarter. Finally, Summit Securities Group LLC bought a new stake in CDW during the 2nd quarter worth $40,000. Institutional investors and hedge funds own 93.15% of the company’s stock.

CDW Trading Down 2.8 %

CDW opened at $180.77 on Friday. CDW Co. has a twelve month low of $180.35 and a twelve month high of $263.37. The company has a fifty day moving average of $214.18 and a 200-day moving average of $220.53. The stock has a market cap of $24.09 billion, a PE ratio of 22.10, a price-to-earnings-growth ratio of 5.35 and a beta of 1.05. 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 issued 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). CDW had a return on equity of 58.31% and a net margin of 5.33%. The business had revenue of $5.52 billion for the quarter, compared to analyst estimates of $5.72 billion. During the same quarter in the previous year, the business posted $2.60 earnings per share. The business’s revenue 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 business 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 dividend of $0.625 per share. This is an increase from CDW’s previous quarterly dividend of $0.62. The ex-dividend date of this dividend is Monday, November 25th. This represents a $2.50 annualized dividend and a dividend yield of 1.38%. CDW’s dividend payout ratio (DPR) is 30.32%.

Wall Street Analysts Forecast Growth

CDW has been the topic of a number of recent research reports. Citigroup lowered CDW from a “buy” rating to a “neutral” rating and cut their price target for the company from $250.00 to $245.00 in a research note on Tuesday, October 1st. JPMorgan Chase & Co. lowered 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 report on Monday, October 28th. Finally, Barclays dropped their price target on shares of CDW from $229.00 to $201.00 and set an “equal weight” rating for the company in a research note on Thursday, October 31st. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $246.71.

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.