Nomura Asset Management Co. Ltd. Sells 10,969 Shares of CDW Co. (NASDAQ:CDW)

Nomura Asset Management Co. Ltd. trimmed its holdings in shares of CDW Co. (NASDAQ:CDW) by 4.2% during the 3rd quarter, Holdings Channel reports. The fund owned 250,503 shares of the information technology services provider’s stock after selling 10,969 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in CDW were worth $56,689,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the business. State Street Corp grew its stake in CDW by 1.1% in the third quarter. State Street Corp now owns 5,719,348 shares of the information technology services provider’s stock valued at $1,294,288,000 after purchasing an additional 64,702 shares during the last quarter. Massachusetts Financial Services Co. MA purchased a new position in shares of CDW in the 3rd quarter worth approximately $416,111,000. Janus Henderson Group PLC raised its stake in shares of CDW by 7,029.1% during the 3rd quarter. Janus Henderson Group PLC now owns 1,466,597 shares of the information technology services provider’s stock worth $331,891,000 after acquiring an additional 1,446,025 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of CDW by 11.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,292,674 shares of the information technology services provider’s stock worth $289,357,000 after acquiring an additional 128,263 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in CDW by 1.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 775,240 shares of the information technology services provider’s stock valued at $175,437,000 after acquiring an additional 7,764 shares during the last quarter. Hedge funds and other institutional investors own 93.15% of the company’s stock.

CDW Trading Up 1.3 %

Shares of NASDAQ:CDW opened at $182.46 on Tuesday. The business has a 50-day moving average price of $199.44 and a 200-day moving average price of $214.76. The stock has a market cap of $24.31 billion, a price-to-earnings ratio of 22.31, a PEG ratio of 5.06 and a beta of 1.02. CDW Co. has a 52-week low of $172.95 and a 52-week high of $263.37. 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 released its quarterly earnings data 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 business 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 firm’s revenue was down 2.0% on a year-over-year basis. During the same period last year, the company earned $2.60 earnings per share. Equities analysts predict that CDW Co. will post 8.99 EPS for the current year.

CDW Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Monday, November 25th will be paid a dividend of $0.625 per share. The ex-dividend date is Monday, November 25th. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.37%. This is a positive change from CDW’s previous quarterly dividend of $0.62. CDW’s dividend payout ratio (DPR) is presently 30.56%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on CDW shares. Barclays reduced their price target on CDW from $229.00 to $201.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 31st. Redburn Atlantic assumed coverage on CDW in a research report on Friday, November 15th. They set a “buy” rating and a $230.00 target price on the stock. JPMorgan Chase & Co. downgraded CDW from an “overweight” rating to a “neutral” rating and lowered their price target for the stock from $260.00 to $235.00 in a report on Monday, October 28th. Finally, Citigroup downgraded shares of 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 analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, CDW currently has an average rating of “Moderate Buy” and an average target price of $244.63.

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.