CDW Co. (NASDAQ:CDW) Shares Bought by Ceredex Value Advisors LLC

Ceredex Value Advisors LLC grew its stake in shares of CDW Co. (NASDAQ:CDW) by 22.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 436,034 shares of the information technology services provider’s stock after acquiring an additional 80,650 shares during the quarter. CDW comprises about 1.9% of Ceredex Value Advisors LLC’s holdings, making the stock its 7th largest position. Ceredex Value Advisors LLC’s holdings in CDW were worth $98,674,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also modified their holdings of the company. Quest Partners LLC purchased a new position in CDW in the 2nd quarter worth approximately $35,000. ORG Partners LLC acquired a new position in shares of CDW in the 2nd quarter valued at approximately $34,000. Canoe Financial LP acquired a new position in shares of CDW in the 3rd quarter valued at approximately $37,000. Fortitude Family Office LLC raised its position in shares of CDW by 350.0% in the 3rd quarter. Fortitude Family Office LLC now owns 171 shares of the information technology services provider’s stock valued at $39,000 after purchasing an additional 133 shares in the last quarter. Finally, Summit Securities Group LLC acquired a new position in shares of CDW in the 2nd quarter valued at approximately $40,000. Hedge funds and other institutional investors own 93.15% of the company’s stock.

CDW Price Performance

Shares of CDW stock opened at $188.38 on Friday. CDW Co. has a 1 year low of $187.73 and a 1 year high of $263.37. The firm’s 50 day moving average is $220.12 and its 200-day moving average is $223.72. The firm has a market capitalization of $25.16 billion, a price-to-earnings ratio of 23.03, a PEG ratio of 2.96 and a beta of 1.03. The company has a current ratio of 1.40, a quick ratio of 1.02 and a debt-to-equity ratio of 2.39.

CDW (NASDAQ:CDW) last announced its quarterly earnings data on Wednesday, July 31st. The information technology services provider reported $2.34 earnings per share for the quarter, missing the consensus estimate of $2.39 by ($0.05). CDW had a net margin of 5.33% and a return on equity of 58.31%. The business had revenue of $5.42 billion during the quarter, compared to analyst estimates of $5.43 billion. During the same quarter in the prior year, the company earned $2.43 earnings per share. The company’s quarterly revenue was down 3.6% on a year-over-year basis. Sell-side analysts forecast that CDW Co. will post 9.38 EPS for the current fiscal year.

CDW Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Monday, November 25th will be paid a $0.625 dividend. This represents a $2.50 annualized dividend and a yield of 1.33%. The ex-dividend date is Monday, November 25th. This is an increase from CDW’s previous quarterly dividend of $0.62. CDW’s dividend payout ratio is presently 30.32%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Citigroup lowered CDW from a “buy” rating to a “neutral” rating and dropped their price target for the company from $250.00 to $245.00 in a research report on Tuesday, October 1st. Stifel Nicolaus increased their target price on CDW from $250.00 to $260.00 and gave the stock a “buy” rating in a research report on Wednesday, July 17th. Barclays dropped their target price on CDW from $229.00 to $201.00 and set an “equal weight” rating on the stock in a research report on Thursday. Finally, JPMorgan Chase & Co. cut CDW from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $260.00 to $235.00 in a research note on Monday, October 28th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $246.71.

CDW Company 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.