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

CIBC Asset Management Inc grew its holdings in CDW Co. (NASDAQ:CDW) by 1.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 41,674 shares of the information technology services provider’s stock after purchasing an additional 504 shares during the period. CIBC Asset Management Inc’s holdings in CDW were worth $9,431,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also modified their holdings of the business. RDA Financial Network lifted its stake in shares of CDW by 3.0% in the 2nd 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 last quarter. PDS Planning Inc lifted its stake in shares of CDW by 4.3% in the 3rd 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 last quarter. Oregon Public Employees Retirement Fund raised its holdings in shares of CDW by 0.5% in the 2nd 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 buying an additional 54 shares during the period. Profund Advisors LLC raised its holdings in shares of CDW by 0.5% in the 2nd quarter. Profund Advisors LLC now owns 12,469 shares of the information technology services provider’s stock valued at $2,791,000 after buying an additional 58 shares during the period. Finally, Elo Mutual Pension Insurance Co raised its holdings in shares of CDW by 0.5% in the 2nd quarter. Elo Mutual Pension Insurance Co now owns 12,301 shares of the information technology services provider’s stock valued at $2,753,000 after buying an additional 61 shares during the period. Institutional investors and hedge funds own 93.15% of the company’s stock.

CDW Trading Down 1.7 %

NASDAQ: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 stock has a market cap of $23.67 billion, a P/E ratio of 21.72, a P/E/G ratio of 5.19 and a beta of 1.05. 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 stock has a 50-day simple moving average of $213.49 and a 200-day simple moving average of $219.90.

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 the consensus estimate of $2.68 by ($0.05). The company had revenue of $5.52 billion during the quarter, compared to analysts’ expectations of $5.72 billion. CDW had a net margin of 5.33% and a return on equity of 58.31%. The business’s revenue for the quarter was down 2.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.60 earnings per share. As a group, analysts anticipate that CDW Co. will post 9.05 earnings per share for the current fiscal year.

CDW Increases Dividend

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

Wall Street Analysts Forecast Growth

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

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.