36,185 Shares in CDW Co. (NASDAQ:CDW) Purchased by Erste Asset Management GmbH

Erste Asset Management GmbH bought a new stake in CDW Co. (NASDAQ:CDW) during the 3rd quarter, Holdings Channel.com reports. The firm bought 36,185 shares of the information technology services provider’s stock, valued at approximately $8,198,000.

A number of other large investors have also recently bought and sold shares of the company. ORG Partners LLC bought a new stake in shares of CDW in the second quarter worth $34,000. Quest Partners LLC acquired a new position in shares of CDW in the second quarter valued at $35,000. Canoe Financial LP bought a new position in CDW in the 3rd quarter valued at about $37,000. Fortitude Family Office LLC lifted its position in CDW by 350.0% during the third quarter. Fortitude Family Office LLC now owns 171 shares of the information technology services provider’s stock worth $39,000 after acquiring an additional 133 shares during the last quarter. Finally, Summit Securities Group LLC bought a new stake in shares of CDW during the second quarter worth approximately $40,000. Institutional investors and hedge funds own 93.15% of the company’s stock.

CDW Price Performance

CDW stock opened at $175.93 on Monday. The company’s 50-day moving average price is $204.87 and its two-hundred day moving average price is $216.89. The firm has a market cap of $23.44 billion, a P/E ratio of 21.51, a P/E/G ratio of 4.94 and a beta of 1.05. 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 Co. has a 12 month low of $172.95 and a 12 month high of $263.37.

CDW (NASDAQ:CDW) last announced its quarterly earnings data on Wednesday, October 30th. The information technology services provider reported $2.63 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 the consensus estimate of $5.72 billion. During the same period last year, the business earned $2.60 earnings per share. The business’s revenue was down 2.0% compared to the same quarter last year. On average, analysts anticipate that CDW Co. will post 8.99 earnings per share for the current fiscal year.

CDW Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Monday, November 25th will be issued a $0.625 dividend. The ex-dividend date of this dividend is Monday, November 25th. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.42%. This is a boost from CDW’s previous quarterly dividend of $0.62. CDW’s dividend payout ratio is 30.56%.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Redburn Atlantic started coverage on CDW in a research note on Friday, November 15th. They set a “buy” rating and a $230.00 target price on the stock. Barclays lowered their price target on shares of CDW from $229.00 to $201.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 31st. JPMorgan Chase & Co. downgraded shares of CDW from an “overweight” rating to a “neutral” rating and cut their price objective for the company 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 dropped their price target for the company from $250.00 to $245.00 in a research report on Tuesday, October 1st. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target 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.