CDW Co. (NASDAQ:CDW) Position Lifted by Forsta AP Fonden

Forsta AP Fonden raised its stake in CDW Co. (NASDAQ:CDW) by 0.2% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 44,900 shares of the information technology services provider’s stock after purchasing an additional 100 shares during the period. Forsta AP Fonden’s holdings in CDW were worth $7,814,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the stock. Northwestern Mutual Wealth Management Co. raised its stake in CDW by 9.6% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 3,261 shares of the information technology services provider’s stock valued at $730,000 after buying an additional 286 shares in the last quarter. Quarry LP bought a new position in CDW during the second quarter worth $81,000. Cetera Investment Advisers lifted its stake in CDW by 33.4% during the second quarter. Cetera Investment Advisers now owns 12,893 shares of the information technology services provider’s stock worth $2,886,000 after purchasing an additional 3,228 shares during the last quarter. Sanctuary Advisors LLC bought a new stake in CDW during the second quarter valued at $1,285,000. Finally, Healthcare of Ontario Pension Plan Trust Fund raised its holdings in shares of CDW by 825.0% during the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 12,423 shares of the information technology services provider’s stock worth $2,781,000 after purchasing an additional 11,080 shares during the period. Institutional investors and hedge funds own 93.15% of the company’s stock.

CDW Stock Up 1.1 %

CDW stock opened at $197.76 on Friday. The firm’s 50-day moving average is $181.31 and its two-hundred day moving average is $203.80. The company has a market capitalization of $26.35 billion, a price-to-earnings ratio of 24.18, a price-to-earnings-growth ratio of 5.26 and a beta of 1.01. CDW Co. has a 52 week low of $168.43 and a 52 week high of $263.37. 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 (NASDAQ:CDW) last announced its earnings results on Wednesday, October 30th. The information technology services provider reported $2.63 EPS 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%. CDW’s revenue for the quarter was down 2.0% on a year-over-year basis. During the same period in the previous year, the firm earned $2.60 EPS. On average, analysts forecast that CDW Co. will post 8.99 earnings per share for the current fiscal year.

CDW Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Monday, November 25th were issued a $0.625 dividend. This is a positive change from CDW’s previous quarterly dividend of $0.62. The ex-dividend date was Monday, November 25th. This represents a $2.50 annualized dividend and a dividend yield of 1.26%. CDW’s dividend payout ratio is 30.56%.

Analysts Set New Price Targets

Several research analysts have recently commented on CDW shares. UBS Group decreased their price target on shares of CDW from $233.00 to $220.00 and set a “buy” rating for the company in a report on Tuesday, January 7th. 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 CDW in a report on Friday, November 15th. They issued a “buy” rating and a $230.00 price target on the stock. Barclays reduced their price objective on CDW from $229.00 to $201.00 and set an “equal weight” rating for the company in a research report on Thursday, October 31st. Finally, Morgan Stanley increased their target price on CDW from $190.00 to $193.00 and gave the stock an “equal weight” rating in a research report on Monday, December 16th. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target 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.