CDW Co. (NASDAQ:CDW) Stock Position Decreased by MetLife Investment Management LLC

MetLife Investment Management LLC cut its stake in shares of CDW Co. (NASDAQ:CDW) by 3.0% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 37,822 shares of the information technology services provider’s stock after selling 1,157 shares during the period. MetLife Investment Management LLC’s holdings in CDW were worth $8,559,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. ORG Partners LLC acquired a new position in shares of CDW in the second quarter worth about $34,000. Quest Partners LLC purchased a new position in CDW during the 2nd quarter worth approximately $35,000. Canoe Financial LP purchased a new stake in shares of CDW in the third quarter valued at $37,000. Fortitude Family Office LLC boosted its position in shares of CDW by 350.0% in the third quarter. Fortitude Family Office LLC now owns 171 shares of the information technology services provider’s stock worth $39,000 after buying an additional 133 shares during the period. Finally, Summit Securities Group LLC acquired a new position in CDW during the second quarter valued at $40,000. Institutional investors and hedge funds own 93.15% of the company’s stock.

CDW Stock Performance

Shares of CDW opened at $176.75 on Friday. The company has a quick ratio of 1.28, a current ratio of 1.40 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’s fifty day moving average is $206.88 and its 200-day moving average is $217.52. The firm has a market cap of $23.55 billion, a price-to-earnings ratio of 21.61, a price-to-earnings-growth ratio of 5.10 and a beta of 1.05.

CDW (NASDAQ:CDW) last posted its 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 company had revenue of $5.52 billion for the quarter, compared to the consensus estimate of $5.72 billion. CDW had a net margin of 5.33% and a return on equity of 58.31%. CDW’s quarterly revenue was down 2.0% on a year-over-year basis. During the same quarter last year, the business earned $2.60 earnings per share. Equities analysts expect that CDW Co. will post 8.99 EPS for the current fiscal year.

CDW Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Monday, November 25th will be issued a $0.625 dividend. This is a positive change 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 of this dividend is Monday, November 25th. CDW’s payout ratio is 30.56%.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. JPMorgan Chase & Co. lowered 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 research report on Monday, October 28th. Citigroup downgraded shares of CDW from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $250.00 to $245.00 in a research report on Tuesday, October 1st. Redburn Atlantic assumed coverage on shares of CDW in a research report on Friday, November 15th. They issued a “buy” rating and a $230.00 target price for the company. Finally, Barclays lowered their price target on shares of CDW from $229.00 to $201.00 and set an “equal weight” rating on the stock in a report on Thursday, October 31st. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $244.63.

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.