Fmr LLC Has $778.77 Million Position in CDW Co. (NASDAQ:CDW)

Fmr LLC lowered its stake in shares of CDW Co. (NASDAQ:CDW) by 17.7% during the third quarter, HoldingsChannel reports. The institutional investor owned 3,441,319 shares of the information technology services provider’s stock after selling 741,709 shares during the quarter. Fmr LLC’s holdings in CDW were worth $778,770,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in CDW. Massachusetts Financial Services Co. MA acquired a new stake in shares of CDW in the 3rd quarter valued at $416,111,000. Perpetual Ltd acquired a new stake in shares of CDW in the 3rd quarter valued at $158,300,000. Ceredex Value Advisors LLC acquired a new stake in shares of CDW in the 2nd quarter valued at $79,549,000. Canada Pension Plan Investment Board boosted its holdings in shares of CDW by 2,045.4% in the 2nd quarter. Canada Pension Plan Investment Board now owns 294,302 shares of the information technology services provider’s stock valued at $65,877,000 after purchasing an additional 280,584 shares in the last quarter. Finally, Assenagon Asset Management S.A. boosted its holdings in shares of CDW by 2,164.6% in the 2nd quarter. Assenagon Asset Management S.A. now owns 140,040 shares of the information technology services provider’s stock valued at $31,347,000 after purchasing an additional 133,856 shares in the last quarter. Institutional investors and hedge funds own 93.15% of the company’s stock.

CDW Stock Performance

CDW stock opened at $176.75 on Thursday. The stock has a 50-day moving average price of $207.78 and a 200-day moving average price of $217.81. CDW Co. has a 1-year low of $172.95 and a 1-year high of $263.37. The company has a current ratio of 1.40, a quick ratio of 1.28 and a debt-to-equity ratio of 2.39. The firm has a market cap of $23.55 billion, a PE ratio of 21.61, a price-to-earnings-growth ratio of 5.10 and a beta of 1.05.

CDW (NASDAQ:CDW) last posted its quarterly earnings data on Wednesday, October 30th. The information technology services provider reported $2.63 earnings per share for the quarter, missing the consensus estimate 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 during the quarter, compared to the consensus estimate of $5.72 billion. During the same period last year, the business posted $2.60 earnings per share. The business’s revenue was down 2.0% on a year-over-year basis. As a group, equities research analysts expect that CDW Co. will post 8.99 earnings per share for the current year.

CDW Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Monday, November 25th will be paid a $0.625 dividend. The ex-dividend date of this dividend is Monday, November 25th. This is an increase 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%.

Wall Street Analyst Weigh In

CDW has been the topic of a number of research analyst reports. Citigroup downgraded CDW from a “buy” rating to a “neutral” rating and reduced their target price for the company from $250.00 to $245.00 in a report on Tuesday, October 1st. JPMorgan Chase & Co. lowered 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 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, Redburn Atlantic started coverage on CDW in a research report on Friday, November 15th. They set a “buy” rating and a $230.00 target price for the company. Four analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average 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.