1,838,760 Shares in CDW Co. (NASDAQ:CDW) Acquired by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA acquired a new stake in CDW Co. (NASDAQ:CDW) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 1,838,760 shares of the information technology services provider’s stock, valued at approximately $416,111,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Peak Financial Advisors LLC acquired a new stake in shares of CDW in the 2nd quarter valued at approximately $2,854,000. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund bought a new position in shares of CDW during the third quarter worth $12,761,000. Virtu Financial LLC increased its position in shares of CDW by 175.9% in the 1st quarter. Virtu Financial LLC now owns 7,115 shares of the information technology services provider’s stock valued at $1,820,000 after buying an additional 4,536 shares in the last quarter. Raymond James & Associates increased its holdings in shares of CDW by 16.6% in the second quarter. Raymond James & Associates now owns 139,711 shares of the information technology services provider’s stock worth $31,273,000 after acquiring an additional 19,867 shares in the last quarter. Finally, Thrivent Financial for Lutherans increased its stake in CDW by 12.8% during the 3rd quarter. Thrivent Financial for Lutherans now owns 599,900 shares of the information technology services provider’s stock worth $135,758,000 after purchasing an additional 68,023 shares in the last quarter. Institutional investors own 93.15% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on CDW shares. Citigroup cut CDW from a “buy” rating to a “neutral” rating and cut their target price for the company from $250.00 to $245.00 in a research note on Tuesday, October 1st. Barclays dropped their price objective 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 shares of CDW in a report on Friday, November 15th. They set a “buy” rating and a $230.00 target price for the company. Finally, JPMorgan Chase & Co. lowered CDW from an “overweight” rating to a “neutral” rating and decreased their price objective for the company from $260.00 to $235.00 in a report on Monday, October 28th. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $244.63.

CDW Stock Up 1.1 %

Shares of CDW opened at $177.91 on Friday. The firm has a 50 day simple moving average of $211.13 and a two-hundred day simple moving average of $219.03. The company has a market cap of $23.71 billion, a P/E ratio of 21.75, a P/E/G ratio of 4.86 and a beta of 1.05. CDW Co. has a one year low of $172.95 and a one year high of $263.37. The company has a debt-to-equity ratio of 2.39, a current ratio of 1.40 and a quick ratio of 1.28.

CDW (NASDAQ:CDW) last posted its quarterly earnings data 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). CDW had a net margin of 5.33% and a return on equity of 58.31%. The company had revenue of $5.52 billion during the quarter, compared to analyst estimates of $5.72 billion. During the same quarter in the previous year, the company earned $2.60 earnings per share. The business’s revenue for the quarter was down 2.0% on a year-over-year basis. Research analysts forecast that CDW Co. will post 9.05 EPS for the current fiscal year.

CDW Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Monday, November 25th will be paid a dividend of $0.625 per share. The ex-dividend date of this dividend is Monday, November 25th. This represents a $2.50 annualized dividend and a yield of 1.41%. This is a boost from CDW’s previous quarterly dividend of $0.62. CDW’s dividend payout ratio (DPR) is currently 30.32%.

CDW Profile

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.