Acropolis Investment Management LLC Trims Stock Holdings in CDW Co. (NASDAQ:CDW)

Acropolis Investment Management LLC reduced its holdings in shares of CDW Co. (NASDAQ:CDW) by 48.4% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 3,246 shares of the information technology services provider’s stock after selling 3,050 shares during the period. Acropolis Investment Management LLC’s holdings in CDW were worth $565,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the business. Massachusetts Financial Services Co. MA bought a new stake in shares of CDW during the third quarter worth $416,111,000. Janus Henderson Group PLC increased its stake in CDW by 7,029.1% in 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 buying an additional 1,446,025 shares during the period. Holocene Advisors LP bought a new stake in CDW during the 3rd quarter valued at about $172,217,000. Perpetual Ltd purchased a new stake in CDW in the 3rd quarter valued at about $158,300,000. Finally, Canada Pension Plan Investment Board boosted its position in 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 buying an additional 280,584 shares during the period. Hedge funds and other institutional investors own 93.15% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on CDW shares. UBS Group reduced their target price on shares of CDW from $233.00 to $220.00 and set a “buy” rating on the stock in a research report on Tuesday, January 7th. Barclays reduced 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. JPMorgan Chase & Co. cut 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 lowered 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 research note on Tuesday, October 1st. Finally, Redburn Atlantic assumed coverage on CDW in a report on Friday, November 15th. They issued a “buy” rating and a $230.00 price objective for the company. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, CDW has a consensus rating of “Moderate Buy” and an average target price of $239.33.

CDW Trading Up 3.1 %

Shares of NASDAQ:CDW opened at $186.56 on Wednesday. The company has a market capitalization of $24.86 billion, a PE ratio of 22.81, a P/E/G ratio of 5.01 and a beta of 1.01. 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 12-month low of $168.43 and a 12-month high of $263.37. The business’s fifty day simple moving average is $179.96 and its 200-day simple moving average is $205.83.

CDW (NASDAQ:CDW) last posted 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 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%. CDW’s revenue for the quarter was down 2.0% on a year-over-year basis. During the same quarter last year, the firm earned $2.60 EPS. As a group, equities research analysts predict that CDW Co. will post 8.99 earnings per share for the current fiscal year.

CDW Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Monday, November 25th were paid a dividend of $0.625 per share. This represents a $2.50 annualized dividend and a dividend yield of 1.34%. The ex-dividend date was Monday, November 25th. This is a positive change from CDW’s previous quarterly dividend of $0.62. CDW’s payout ratio is 30.56%.

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.