OneAscent Financial Services LLC Increases Position in CDW Co. (NASDAQ:CDW)

OneAscent Financial Services LLC lifted its position in CDW Co. (NASDAQ:CDW) by 8.6% in the first quarter, HoldingsChannel.com reports. The firm owned 2,562 shares of the information technology services provider’s stock after purchasing an additional 202 shares during the quarter. OneAscent Financial Services LLC’s holdings in CDW were worth $655,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Wellington Management Group LLP grew its stake in CDW by 29.1% during the fourth quarter. Wellington Management Group LLP now owns 3,464,886 shares of the information technology services provider’s stock valued at $787,638,000 after acquiring an additional 781,421 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in CDW by 4.9% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,380,123 shares of the information technology services provider’s stock valued at $299,901,000 after acquiring an additional 64,140 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in CDW by 3.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,135,792 shares of the information technology services provider’s stock valued at $258,196,000 after acquiring an additional 33,235 shares in the last quarter. American Century Companies Inc. grew its stake in CDW by 2.5% during the third quarter. American Century Companies Inc. now owns 832,548 shares of the information technology services provider’s stock valued at $167,975,000 after acquiring an additional 20,152 shares in the last quarter. Finally, California Public Employees Retirement System grew its stake in CDW by 0.4% during the fourth quarter. California Public Employees Retirement System now owns 822,093 shares of the information technology services provider’s stock valued at $186,878,000 after acquiring an additional 3,082 shares in the last quarter. 93.15% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Barclays cut their target price on shares of CDW from $261.00 to $232.00 and set an “equal weight” rating for the company in a research note on Thursday, May 2nd. Northcoast Research upgraded shares of CDW from a “neutral” rating to a “buy” rating and set a $270.00 price objective for the company in a research report on Friday, June 7th. JPMorgan Chase & Co. lowered their price objective on shares of CDW from $280.00 to $265.00 and set an “overweight” rating for the company in a research report on Thursday, May 2nd. Citigroup lowered their price objective on shares of CDW from $295.00 to $260.00 and set a “buy” rating for the company in a research report on Thursday, May 2nd. Finally, Stifel Nicolaus lowered their price objective on shares of CDW from $265.00 to $250.00 and set a “buy” rating for the company in a research report on Thursday, May 2nd. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, CDW presently has a consensus rating of “Moderate Buy” and a consensus price target of $250.00.

CDW Price Performance

CDW stock opened at $223.84 on Friday. The firm has a 50-day moving average price of $227.37 and a 200-day moving average price of $233.76. The firm has a market capitalization of $30.08 billion, a PE ratio of 27.95, a price-to-earnings-growth ratio of 3.30 and a beta of 1.06. The company has a current ratio of 1.26, a quick ratio of 1.13 and a debt-to-equity ratio of 2.35. CDW Co. has a 12-month low of $176.89 and a 12-month high of $263.37.

CDW (NASDAQ:CDW) last released its earnings results on Wednesday, May 1st. The information technology services provider reported $1.89 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.04 by ($0.15). The firm had revenue of $4.87 billion during the quarter, compared to the consensus estimate of $4.94 billion. CDW had a return on equity of 67.56% and a net margin of 5.16%. As a group, equities research analysts forecast that CDW Co. will post 9.67 EPS for the current year.

CDW Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 11th. Investors of record on Friday, May 24th were issued a dividend of $0.62 per share. The ex-dividend date was Thursday, May 23rd. This represents a $2.48 dividend on an annualized basis and a yield of 1.11%. CDW’s payout ratio is 30.96%.

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.