Allspring Global Investments Holdings LLC Has $2.38 Million Stock Holdings in CDW Co. (NASDAQ:CDW)

Allspring Global Investments Holdings LLC boosted its stake in shares of CDW Co. (NASDAQ:CDW) by 28.7% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 9,317 shares of the information technology services provider’s stock after purchasing an additional 2,076 shares during the period. Allspring Global Investments Holdings LLC’s holdings in CDW were worth $2,383,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Wellington Management Group LLP grew its position in shares of CDW by 29.1% in 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 purchasing an additional 781,421 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in CDW by 4.9% in the 4th 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 buying an additional 64,140 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in CDW by 3.0% in the 4th 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 buying an additional 33,235 shares in the last quarter. American Century Companies Inc. lifted its holdings in shares of 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 worth $167,975,000 after buying an additional 20,152 shares in the last quarter. Finally, California Public Employees Retirement System boosted its position in shares of CDW by 0.4% in 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 during the period. 93.15% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

CDW Price Performance

CDW stock opened at $219.12 on Wednesday. The company has a debt-to-equity ratio of 2.35, a quick ratio of 1.13 and a current ratio of 1.26. CDW Co. has a 52 week low of $180.38 and a 52 week high of $263.37. The stock has a market capitalization of $29.45 billion, a P/E ratio of 27.36, a price-to-earnings-growth ratio of 3.30 and a beta of 1.04. The stock has a fifty day moving average of $226.57 and a 200-day moving average of $233.84.

CDW (NASDAQ:CDW) last posted its quarterly earnings results on Wednesday, May 1st. The information technology services provider reported $1.89 EPS for the quarter, missing analysts’ consensus estimates of $2.04 by ($0.15). CDW had a return on equity of 67.56% and a net margin of 5.16%. The business had revenue of $4.87 billion for the quarter, compared to analyst estimates of $4.94 billion. On average, sell-side analysts expect that CDW Co. will post 9.67 earnings per share for the current fiscal year.

CDW Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 11th. Investors of record on Friday, May 24th were given 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 1.13%. CDW’s dividend payout ratio is currently 30.96%.

CDW 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.