Public Sector Pension Investment Board Acquires 600 Shares of CDW Co. (NASDAQ:CDW)

Public Sector Pension Investment Board grew its holdings in CDW Co. (NASDAQ:CDW) by 0.2% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 270,829 shares of the information technology services provider’s stock after acquiring an additional 600 shares during the quarter. Public Sector Pension Investment Board’s holdings in CDW were worth $61,289,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of CDW. Massachusetts Financial Services Co. MA bought a new stake in shares of CDW in the third quarter valued at about $416,111,000. Perpetual Ltd bought a new stake in CDW during the third quarter worth about $158,300,000. Ceredex Value Advisors LLC acquired a new stake in CDW during the second quarter worth about $79,549,000. Canada Pension Plan Investment Board increased its holdings 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. Finally, Assenagon Asset Management S.A. raised its position in shares of CDW by 2,164.6% in the 2nd quarter. Assenagon Asset Management S.A. now owns 140,040 shares of the information technology services provider’s stock valued at $31,347,000 after buying an additional 133,856 shares in the last quarter. Institutional investors own 93.15% of the company’s stock.

Analyst Upgrades and Downgrades

CDW has been the topic of several analyst reports. JPMorgan Chase & Co. lowered shares of CDW from an “overweight” rating to a “neutral” rating and reduced their price target for the stock from $260.00 to $235.00 in a research report on Monday, October 28th. Barclays decreased their price target on CDW from $229.00 to $201.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 31st. Redburn Atlantic started coverage on CDW in a research note on Friday, November 15th. They issued a “buy” rating and a $230.00 price objective on the stock. Finally, Citigroup downgraded CDW from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $250.00 to $245.00 in a research note on Tuesday, October 1st. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, CDW presently has an average rating of “Moderate Buy” and an average price target of $244.63.

CDW Trading Down 0.6 %

Shares of CDW stock opened at $176.75 on Thursday. CDW Co. has a twelve month low of $172.95 and a twelve month high of $263.37. The stock’s fifty day simple moving average is $207.78 and its 200 day simple moving average is $217.81. The company has a quick ratio of 1.28, a current ratio of 1.40 and a debt-to-equity ratio of 2.39. The firm has a market capitalization of $23.55 billion, a P/E ratio of 21.61, a P/E/G ratio of 5.10 and a beta of 1.05.

CDW (NASDAQ:CDW) last released its quarterly earnings results on Wednesday, October 30th. The information technology services provider reported $2.63 earnings per share for the quarter, missing the consensus estimate of $2.68 by ($0.05). The firm had revenue of $5.52 billion for the quarter, compared to the consensus estimate of $5.72 billion. CDW had a return on equity of 58.31% and a net margin of 5.33%. The business’s revenue for the quarter was down 2.0% on a year-over-year basis. During the same quarter last year, the firm posted $2.60 earnings per share. As a group, sell-side analysts predict that CDW Co. will post 8.99 EPS for the current fiscal year.

CDW Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Monday, November 25th will be given a $0.625 dividend. This is a boost from CDW’s previous quarterly dividend of $0.62. This represents a $2.50 annualized dividend and a yield of 1.41%. The ex-dividend date is Monday, November 25th. CDW’s dividend 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.