Swiss National Bank decreased its position in shares of CDW Co. (NASDAQ:CDW – Free Report) by 9.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 488,100 shares of the information technology services provider’s stock after selling 49,300 shares during the quarter. Swiss National Bank owned about 0.36% of CDW worth $89,566,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in CDW by 1.3% during the first quarter. Vanguard Group Inc. now owns 15,723,027 shares of the information technology services provider’s stock worth $2,812,692,000 after buying an additional 196,216 shares during the last quarter. FMR LLC increased its position in shares of CDW by 25.8% during the first quarter. FMR LLC now owns 7,062,063 shares of the information technology services provider’s stock worth $1,376,326,000 after acquiring an additional 1,447,117 shares in the last quarter. State Street Corp raised its holdings in shares of CDW by 3.0% in the 1st quarter. State Street Corp now owns 5,281,252 shares of the information technology services provider’s stock worth $1,029,263,000 after acquiring an additional 156,066 shares during the last quarter. Longview Partners Guernsey LTD lifted its position in CDW by 3.3% in the 1st quarter. Longview Partners Guernsey LTD now owns 3,149,538 shares of the information technology services provider’s stock valued at $613,813,000 after acquiring an additional 100,674 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in CDW by 2.3% during the 1st quarter. Geode Capital Management LLC now owns 2,881,054 shares of the information technology services provider’s stock valued at $560,247,000 after purchasing an additional 63,457 shares during the last quarter. 93.04% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
CDW has been the subject of several analyst reports. Barclays increased their price objective on CDW from $216.00 to $219.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 2nd. Morgan Stanley dropped their price objective on CDW from $230.00 to $216.00 and set an “overweight” rating on the stock in a research note on Thursday, November 2nd. UBS Group began coverage on shares of CDW in a report on Tuesday, October 3rd. They set a “buy” rating and a $237.00 price objective on the stock. Raymond James raised their price target on shares of CDW from $200.00 to $220.00 and gave the company an “outperform” rating in a research report on Thursday, August 3rd. Finally, StockNews.com initiated coverage on shares of CDW in a research report on Thursday, October 5th. They issued a “hold” rating for the company. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, CDW currently has an average rating of “Moderate Buy” and an average price target of $213.20.
CDW Stock Up 3.1 %
CDW opened at $218.46 on Wednesday. The company’s 50-day moving average price is $206.24 and its two-hundred day moving average price is $192.37. The company has a quick ratio of 1.20, a current ratio of 1.35 and a debt-to-equity ratio of 3.13. CDW Co. has a twelve month low of $160.66 and a twelve month high of $218.86. The stock has a market cap of $29.26 billion, a price-to-earnings ratio of 27.27, a PEG ratio of 1.76 and a beta of 1.11.
CDW Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 12th. Shareholders of record on Friday, November 24th will be issued a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a yield of 1.14%. This is a positive change from CDW’s previous quarterly dividend of $0.59. The ex-dividend date of this dividend is Wednesday, November 22nd. CDW’s dividend payout ratio is 29.46%.
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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