Avanza Fonder AB Takes $1.72 Million Position in CDW Co. (NASDAQ:CDW)

Avanza Fonder AB acquired a new stake in CDW Co. (NASDAQ:CDW) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 9,896 shares of the information technology services provider’s stock, valued at approximately $1,722,000.

Several other large investors have also recently added to or reduced their stakes in the business. Federated Hermes Inc. increased its holdings in CDW by 88.2% during the 2nd quarter. Federated Hermes Inc. now owns 1,137 shares of the information technology services provider’s stock worth $255,000 after purchasing an additional 533 shares during the period. XTX Topco Ltd acquired a new position in shares of CDW during the second quarter worth about $652,000. Ieq Capital LLC increased its stake in shares of CDW by 4.7% during the second quarter. Ieq Capital LLC now owns 11,424 shares of the information technology services provider’s stock worth $2,557,000 after buying an additional 508 shares during the period. Canada Pension Plan Investment Board raised its holdings in CDW by 2,045.4% in the second quarter. Canada Pension Plan Investment Board now owns 294,302 shares of the information technology services provider’s stock valued at $65,877,000 after acquiring an additional 280,584 shares in the last quarter. Finally, Skandinaviska Enskilda Banken AB publ lifted its stake in CDW by 1.1% in the second quarter. Skandinaviska Enskilda Banken AB publ now owns 27,870 shares of the information technology services provider’s stock worth $6,235,000 after acquiring an additional 303 shares during the last quarter. 93.15% of the stock is owned by hedge funds and other institutional investors.

CDW Price Performance

Shares of NASDAQ CDW opened at $188.70 on Friday. The stock has a market cap of $25.15 billion, a P/E ratio of 23.07, a P/E/G ratio of 4.91 and a beta of 1.01. CDW Co. has a twelve month low of $168.43 and a twelve month high of $263.37. The stock has a 50 day moving average of $179.13 and a two-hundred day moving average of $205.27. 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 released its quarterly 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). CDW had a net margin of 5.33% and a return on equity of 58.31%. The business had revenue of $5.52 billion during the quarter, compared to analysts’ expectations of $5.72 billion. During the same quarter last year, the company earned $2.60 EPS. The firm’s revenue for the quarter was down 2.0% compared to the same quarter last year. On average, research analysts forecast that CDW Co. will post 8.99 earnings per share for the current year.

CDW Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Monday, November 25th were paid a dividend of $0.625 per share. This is an increase 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 1.32%. CDW’s dividend payout ratio is 30.56%.

Analyst Upgrades and Downgrades

CDW has been the topic of a number of analyst reports. UBS Group reduced their price objective on shares of CDW from $233.00 to $220.00 and set a “buy” rating on the stock in a report on Tuesday, January 7th. Citigroup cut CDW from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $250.00 to $245.00 in a research report on Tuesday, October 1st. Morgan Stanley raised 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. Redburn Atlantic began coverage on CDW in a report on Friday, November 15th. They issued a “buy” rating and a $230.00 price target for the company. Finally, JPMorgan Chase & Co. cut shares of CDW from an “overweight” rating to a “neutral” rating and cut their price objective for the stock from $260.00 to $235.00 in a report on Monday, October 28th. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company 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.