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

Massachusetts Financial Services Co. MA bought a new stake in CDW Co. (NASDAQ:CDW) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 1,838,760 shares of the information technology services provider’s stock, valued at approximately $416,111,000. Massachusetts Financial Services Co. MA owned approximately 1.38% of CDW as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in CDW. ORG Partners LLC acquired a new position in shares of CDW during the second quarter valued at $34,000. Quest Partners LLC bought a new stake in CDW in the 2nd quarter valued at about $35,000. Canoe Financial LP acquired a new position in CDW during the 3rd quarter valued at about $37,000. Fortitude Family Office LLC grew its position in CDW by 350.0% in the 3rd quarter. Fortitude Family Office LLC now owns 171 shares of the information technology services provider’s stock worth $39,000 after purchasing an additional 133 shares during the last quarter. Finally, Summit Securities Group LLC bought a new stake in shares of CDW during the second quarter valued at approximately $40,000. 93.15% of the stock is currently owned by hedge funds and other institutional investors.

CDW Trading Up 1.1 %

Shares of CDW stock opened at $177.91 on Friday. The business’s 50 day moving average is $211.13 and its two-hundred day moving average is $219.03. 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 has a market cap of $23.71 billion, a PE ratio of 21.75, a price-to-earnings-growth ratio of 4.86 and a beta of 1.05.

CDW (NASDAQ:CDW) last issued its quarterly earnings results on Wednesday, October 30th. The information technology services provider reported $2.63 earnings per share (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 analyst estimates of $5.72 billion. During the same period in the prior year, the business posted $2.60 earnings per share. The company’s revenue for the quarter was down 2.0% compared to the same quarter last year. Equities analysts predict that CDW Co. will post 9.05 EPS for the current year.

CDW Increases Dividend

The company 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 $0.625 dividend. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.41%. This is a positive change from CDW’s previous quarterly dividend of $0.62. The ex-dividend date of this dividend is Monday, November 25th. CDW’s dividend payout ratio is presently 30.32%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on CDW shares. Citigroup lowered CDW from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $250.00 to $245.00 in a report on Tuesday, October 1st. Barclays dropped their target price 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. Redburn Atlantic initiated coverage on CDW in a research note on Friday, November 15th. They set a “buy” rating and a $230.00 price objective for the company. Finally, JPMorgan Chase & Co. cut shares of CDW from an “overweight” rating to a “neutral” rating and decreased their target price for the stock 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 issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $244.63.

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.