Dimensional Fund Advisors LP boosted its stake in CDW Co. (NASDAQ:CDW – Free Report) by 2.2% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,046,931 shares of the information technology services provider’s stock after purchasing an additional 22,155 shares during the period. Dimensional Fund Advisors LP owned about 0.78% of CDW worth $204,014,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Cambridge Investment Research Advisors Inc. increased its position in CDW by 9.2% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 6,513 shares of the information technology services provider’s stock valued at $1,165,000 after purchasing an additional 547 shares during the period. Acadian Asset Management LLC acquired a new stake in CDW during the 1st quarter valued at approximately $103,000. Panagora Asset Management Inc. increased its position in CDW by 160.4% during the 1st quarter. Panagora Asset Management Inc. now owns 4,645 shares of the information technology services provider’s stock valued at $831,000 after purchasing an additional 2,861 shares during the period. Yousif Capital Management LLC grew its holdings in CDW by 0.3% during the 1st quarter. Yousif Capital Management LLC now owns 20,523 shares of the information technology services provider’s stock worth $3,671,000 after acquiring an additional 65 shares during the period. Finally, Blair William & Co. IL grew its holdings in CDW by 1.5% during the 1st quarter. Blair William & Co. IL now owns 33,977 shares of the information technology services provider’s stock worth $6,078,000 after acquiring an additional 515 shares during the period. 93.04% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of analysts have weighed in on the company. Citigroup assumed coverage on CDW in a report on Thursday, June 29th. They set a “buy” rating and a $205.00 price target for the company. Raymond James increased their price objective on shares of CDW from $200.00 to $220.00 and gave the stock an “outperform” rating in a research report on Thursday, August 3rd. Morgan Stanley upped their price target on CDW from $200.00 to $230.00 and gave the stock an “overweight” rating in a research note on Thursday, August 3rd. Barclays boosted their price objective on CDW from $198.00 to $216.00 and gave the company an “equal weight” rating in a report on Thursday, August 3rd. Finally, StockNews.com started coverage on shares of CDW in a research report on Thursday, August 17th. They issued a “hold” rating for the company. Three analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $207.00.
CDW Stock Performance
Shares of CDW stock opened at $213.18 on Friday. The company has a debt-to-equity ratio of 3.55, a current ratio of 1.30 and a quick ratio of 1.14. The firm has a 50-day moving average of $193.91 and a 200-day moving average of $186.84. CDW Co. has a one year low of $147.91 and a one year high of $215.00. The company has a market cap of $28.58 billion, a P/E ratio of 27.12, a P/E/G ratio of 1.73 and a beta of 1.10.
CDW (NASDAQ:CDW – Get Free Report) last posted its quarterly earnings data on Wednesday, August 2nd. The information technology services provider reported $2.43 EPS for the quarter, beating the consensus estimate of $2.25 by $0.18. CDW had a net margin of 4.81% and a return on equity of 83.33%. The firm had revenue of $5.63 billion during the quarter, compared to analyst estimates of $5.39 billion. Equities research analysts forecast that CDW Co. will post 9.13 EPS for the current fiscal year.
CDW Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 12th. Shareholders of record on Friday, August 25th will be given a $0.59 dividend. The ex-dividend date of this dividend is Thursday, August 24th. This represents a $2.36 annualized dividend and a yield of 1.11%. CDW’s dividend payout ratio is currently 30.03%.
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, hybrid, and cloud capabilities across hybrid infrastructure, digital experience, and security.
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