Swedbank AB Acquires 928 Shares of CDW Co. (NASDAQ:CDW)

Swedbank AB grew its holdings in shares of CDW Co. (NASDAQ:CDW) by 1.8% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 52,123 shares of the information technology services provider’s stock after buying an additional 928 shares during the period. Swedbank AB’s holdings in CDW were worth $11,795,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. California State Teachers Retirement System grew its stake in shares of CDW by 0.9% in the 1st quarter. California State Teachers Retirement System now owns 214,862 shares of the information technology services provider’s stock valued at $54,957,000 after buying an additional 1,915 shares during the period. Tidal Investments LLC boosted its holdings in CDW by 6.7% in the first quarter. Tidal Investments LLC now owns 17,260 shares of the information technology services provider’s stock worth $4,417,000 after acquiring an additional 1,088 shares in the last quarter. Virtu Financial LLC grew its stake in CDW by 175.9% in the first quarter. Virtu Financial LLC now owns 7,115 shares of the information technology services provider’s stock valued at $1,820,000 after acquiring an additional 4,536 shares during the period. LRI Investments LLC bought a new stake in shares of CDW during the first quarter valued at approximately $68,000. Finally, Sanibel Captiva Trust Company Inc. raised its position in shares of CDW by 3.7% during the first quarter. Sanibel Captiva Trust Company Inc. now owns 7,061 shares of the information technology services provider’s stock worth $1,806,000 after purchasing an additional 250 shares during the period. Institutional investors and hedge funds own 93.15% of the company’s stock.

CDW Stock Down 2.0 %

CDW stock opened at $177.80 on Wednesday. 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 market cap of $23.69 billion, a PE ratio of 21.74, a price-to-earnings-growth ratio of 5.03 and a beta of 1.05. CDW Co. has a fifty-two week low of $172.95 and a fifty-two week high of $263.37. The firm’s 50-day simple moving average is $208.69 and its 200 day simple moving average is $218.12.

CDW (NASDAQ:CDW) last released its earnings results on Wednesday, October 30th. The information technology services provider reported $2.63 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.68 by ($0.05). The business had revenue of $5.52 billion during the quarter, compared to the consensus estimate of $5.72 billion. CDW had a net margin of 5.33% and a return on equity of 58.31%. The business’s revenue was down 2.0% on a year-over-year basis. During the same period in the prior year, the company earned $2.60 earnings per share. Research analysts predict that CDW Co. will post 8.99 EPS for the current fiscal year.

CDW Increases Dividend

The firm also recently announced 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. The ex-dividend date of this dividend is Monday, November 25th. This is a positive change from CDW’s previous quarterly dividend of $0.62. This represents a $2.50 annualized dividend and a dividend yield of 1.41%. CDW’s dividend payout ratio (DPR) is currently 30.56%.

Analysts Set New Price Targets

CDW has been the subject of several research reports. Redburn Atlantic started coverage on shares of CDW in a research report on Friday, November 15th. They issued a “buy” rating and a $230.00 price target for the company. JPMorgan Chase & Co. cut shares of CDW from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $260.00 to $235.00 in a report on Monday, October 28th. Barclays decreased their target price on shares of CDW from $229.00 to $201.00 and set an “equal weight” rating for the company in a research report on Thursday, October 31st. Finally, Citigroup cut shares of CDW from a “buy” rating to a “neutral” rating and dropped their price target for the company from $250.00 to $245.00 in a research report on Tuesday, October 1st. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, CDW has an average rating of “Moderate Buy” and an average price target of $244.63.

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.