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

Ceredex Value Advisors LLC grew its holdings in CDW Co. (NASDAQ:CDW) by 22.7% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 436,034 shares of the information technology services provider’s stock after buying an additional 80,650 shares during the period. CDW accounts for about 1.9% of Ceredex Value Advisors LLC’s holdings, making the stock its 7th biggest holding. Ceredex Value Advisors LLC owned 0.32% of CDW worth $98,674,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of CDW. ORG Partners LLC acquired a new stake in shares of CDW in the second quarter valued at about $34,000. Quest Partners LLC acquired a new stake in shares of CDW in the second quarter valued at about $35,000. Canoe Financial LP acquired a new stake in shares of CDW in the third quarter valued at about $37,000. Fortitude Family Office LLC raised 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 valued at $39,000 after buying an additional 133 shares during the last quarter. Finally, Summit Securities Group LLC acquired a new stake in shares of CDW in the second quarter valued at about $40,000. 93.15% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

CDW Stock Up 0.1 %

CDW stock opened at $188.38 on Friday. 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 Co. has a twelve month low of $187.73 and a twelve month high of $263.37. The company’s 50 day moving average is $220.12 and its two-hundred day moving average is $223.72. The stock has a market cap of $25.16 billion, a P/E ratio of 23.03, a PEG ratio of 2.96 and a beta of 1.03.

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

CDW Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Monday, November 25th will be given a $0.625 dividend. This represents a $2.50 dividend on an annualized basis and a yield of 1.33%. 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 (DPR) is 30.32%.

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.