Erste Asset Management GmbH Acquires Shares of 36,185 CDW Co. (NASDAQ:CDW)

Erste Asset Management GmbH bought a new position in CDW Co. (NASDAQ:CDW) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 36,185 shares of the information technology services provider’s stock, valued at approximately $8,198,000.

Several other large investors have also made changes to their positions in the company. ORG Partners LLC acquired a new position in CDW in the second quarter valued at about $34,000. Quest Partners LLC bought a new position in shares of CDW in the second quarter valued at approximately $35,000. Canoe Financial LP acquired a new position in shares of CDW in the 3rd quarter worth approximately $37,000. Fortitude Family Office LLC grew its position in CDW by 350.0% during the 3rd 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 acquired a new stake in CDW during the 2nd quarter valued at $40,000. Institutional investors own 93.15% of the company’s stock.

CDW Trading Down 0.5 %

NASDAQ CDW opened at $175.93 on Monday. The company has a current ratio of 1.40, a quick ratio of 1.28 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. The company has a market capitalization of $23.44 billion, a PE ratio of 21.51, a P/E/G ratio of 4.94 and a beta of 1.05. The stock has a 50-day simple moving average of $204.87 and a 200 day simple moving average of $216.89.

CDW (NASDAQ:CDW) last announced its quarterly earnings results on Wednesday, October 30th. The information technology services provider reported $2.63 earnings per share for the quarter, missing analysts’ consensus estimates of $2.68 by ($0.05). The firm had revenue of $5.52 billion during the quarter, compared to analyst estimates of $5.72 billion. CDW had a net margin of 5.33% and a return on equity of 58.31%. The business’s revenue was down 2.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.60 earnings per share. Research analysts forecast that CDW Co. will post 8.99 EPS for the current 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 issued a $0.625 dividend. This is an increase from CDW’s previous quarterly dividend of $0.62. This represents a $2.50 annualized dividend and a dividend yield of 1.42%. The ex-dividend date of this dividend is Monday, November 25th. CDW’s dividend payout ratio is 30.56%.

Wall Street Analysts Forecast Growth

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

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.