Diversified Trust Co Makes New $1.53 Million Investment in CDW Co. (NASDAQ:CDW)

Diversified Trust Co purchased a new position in shares of CDW Co. (NASDAQ:CDW) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 8,783 shares of the information technology services provider’s stock, valued at approximately $1,529,000.

A number of other large investors have also made changes to their positions in the stock. Massachusetts Financial Services Co. MA acquired a new position in CDW during the third quarter worth about $416,111,000. Janus Henderson Group PLC boosted 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. Holocene Advisors LP acquired a new stake in shares of CDW in the 3rd quarter worth approximately $172,217,000. Perpetual Ltd purchased a new position in CDW in the 3rd quarter valued at approximately $158,300,000. Finally, Canada Pension Plan Investment Board raised its holdings in CDW by 2,045.4% during the second quarter. Canada Pension Plan Investment Board now owns 294,302 shares of the information technology services provider’s stock worth $65,877,000 after purchasing an additional 280,584 shares during the last quarter. Hedge funds and other institutional investors own 93.15% of the company’s stock.

CDW Stock Up 0.2 %

Shares of NASDAQ CDW opened at $181.34 on Thursday. The firm has a market cap of $24.17 billion, a P/E ratio of 22.17, a price-to-earnings-growth ratio of 5.01 and a beta of 1.01. The company has a debt-to-equity ratio of 2.39, a quick ratio of 1.28 and a current ratio of 1.40. CDW Co. has a 1 year low of $168.43 and a 1 year high of $263.37. The firm’s 50 day moving average price is $180.54 and its 200 day moving average price is $207.16.

CDW (NASDAQ:CDW) last announced its quarterly earnings data on Wednesday, October 30th. The information technology services provider reported $2.63 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 business had revenue of $5.52 billion during the quarter, compared to analysts’ expectations of $5.72 billion. During the same period in the prior year, the firm earned $2.60 EPS. CDW’s revenue for the quarter was down 2.0% on a year-over-year basis. As a group, sell-side analysts anticipate that CDW Co. will post 8.99 earnings per share for the current year.

CDW Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Monday, November 25th were issued a dividend of $0.625 per share. This is a positive change from CDW’s previous quarterly dividend of $0.62. This represents a $2.50 annualized dividend and a dividend yield of 1.38%. The ex-dividend date of this dividend was Monday, November 25th. CDW’s dividend payout ratio is presently 30.56%.

Analyst Ratings Changes

CDW has been the topic of several research reports. JPMorgan Chase & Co. lowered CDW from an “overweight” rating to a “neutral” rating and lowered their target price for the company from $260.00 to $235.00 in a report on Monday, October 28th. Redburn Atlantic started coverage on shares of CDW in a research note on Friday, November 15th. They issued a “buy” rating and a $230.00 price objective on the stock. Barclays cut their target price on shares of CDW from $229.00 to $201.00 and set an “equal weight” rating for the company in a research report on Thursday, October 31st. UBS Group lowered their price target on shares of CDW from $233.00 to $220.00 and set a “buy” rating on the stock in a research report on Tuesday. Finally, Citigroup downgraded CDW from a “buy” rating to a “neutral” rating and cut their price objective for the stock 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 five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $239.33.

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.