CDW Co. (NASDAQ:CDW) Position Boosted by Dai ichi Life Insurance Company Ltd

Dai ichi Life Insurance Company Ltd raised its holdings in shares of CDW Co. (NASDAQ:CDW) by 105.6% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,840 shares of the information technology services provider’s stock after acquiring an additional 3,000 shares during the period. Dai ichi Life Insurance Company Ltd’s holdings in CDW were worth $1,322,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA acquired a new position in shares of CDW during the third quarter valued at $416,111,000. Perpetual Ltd bought a new stake in shares of CDW during the 3rd quarter worth about $158,300,000. Ceredex Value Advisors LLC acquired a new stake in shares of CDW in the 2nd quarter worth approximately $79,549,000. Canada Pension Plan Investment Board boosted its holdings in shares of CDW by 2,045.4% in the second 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 acquiring an additional 280,584 shares in the last quarter. Finally, Assenagon Asset Management S.A. increased its stake in shares of CDW by 2,164.6% during the second 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 acquiring an additional 133,856 shares during the period. Institutional investors and hedge funds own 93.15% of the company’s stock.

Analyst Upgrades and Downgrades

CDW has been the subject of a number of research analyst reports. Barclays cut 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. 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 report on Monday, October 28th. Citigroup downgraded shares of 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 report on Tuesday, October 1st. Finally, Redburn Atlantic started coverage on shares of CDW in a research note on Friday, November 15th. They issued a “buy” rating and a $230.00 price objective on the stock. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $244.63.

CDW Price Performance

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

CDW (NASDAQ:CDW) last issued 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). CDW had a net margin of 5.33% and a return on equity of 58.31%. The firm had revenue of $5.52 billion during the quarter, compared to analysts’ expectations of $5.72 billion. During the same quarter last year, the company posted $2.60 EPS. The firm’s revenue was down 2.0% compared to the same quarter last year. On average, analysts predict that CDW Co. will post 8.99 EPS for the current year.

CDW Increases Dividend

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

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.