International Assets Investment Management LLC Takes $174.04 Million Position in CDW Co. (NASDAQ:CDW)

International Assets Investment Management LLC acquired a new stake in shares of CDW Co. (NASDAQ:CDW) during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor acquired 76,907 shares of the information technology services provider’s stock, valued at approximately $174,040,000.

Several other institutional investors have also recently modified their holdings of CDW. Vanguard Group Inc. increased its position in shares of CDW by 4.6% during the 1st quarter. Vanguard Group Inc. now owns 16,407,542 shares of the information technology services provider’s stock valued at $4,196,721,000 after purchasing an additional 714,393 shares during the last quarter. Perpetual Ltd bought a new position in shares of CDW during the 3rd quarter valued at about $158,300,000. Lazard Asset Management LLC increased its position in shares of CDW by 225.9% during the 1st quarter. Lazard Asset Management LLC now owns 881,586 shares of the information technology services provider’s stock valued at $225,491,000 after purchasing an additional 611,054 shares during the last quarter. Ceredex Value Advisors LLC bought a new position in shares of CDW during the 2nd quarter valued at about $79,549,000. Finally, Canada Pension Plan Investment Board increased its position in shares of CDW by 2,045.4% during the 2nd 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 purchasing an additional 280,584 shares during the last quarter. 93.15% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

CDW has been the subject of several analyst reports. Stifel Nicolaus increased their target price on CDW from $250.00 to $260.00 and gave the company a “buy” rating in a report on Wednesday, July 17th. Barclays dropped their target price on CDW from $232.00 to $229.00 and set an “equal weight” rating for the company in a report on Thursday, August 1st. Finally, Citigroup cut CDW from a “buy” rating to a “neutral” rating and dropped their target price for the company from $250.00 to $245.00 in a report on Tuesday, October 1st. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $255.00.

CDW Trading Down 1.0 %

NASDAQ CDW opened at $217.01 on Friday. CDW Co. has a fifty-two week low of $185.04 and a fifty-two week high of $263.37. The company has a debt-to-equity ratio of 2.03, a quick ratio of 1.02 and a current ratio of 1.13. The stock has a 50 day simple moving average of $221.50 and a two-hundred day simple moving average of $224.90. The stock has a market cap of $29.17 billion, a P/E ratio of 27.09, a price-to-earnings-growth ratio of 3.42 and a beta of 1.03.

CDW (NASDAQ:CDW) last released its quarterly earnings data on Wednesday, July 31st. The information technology services provider reported $2.34 earnings per share for the quarter, missing the consensus estimate of $2.39 by ($0.05). CDW had a return on equity of 62.22% and a net margin of 5.29%. The business had revenue of $5.42 billion during the quarter, compared to analysts’ expectations of $5.43 billion. During the same quarter last year, the business posted $2.43 EPS. The company’s quarterly revenue was down 3.6% compared to the same quarter last year. On average, analysts forecast that CDW Co. will post 9.4 earnings per share for the current year.

CDW Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Monday, August 26th were issued a $0.62 dividend. This represents a $2.48 annualized dividend and a yield of 1.14%. The ex-dividend date was Monday, August 26th. CDW’s dividend payout ratio (DPR) is currently 30.96%.

Insiders Place Their Bets

In other news, insider Christine A. Leahy bought 1,200 shares of the stock in a transaction dated Thursday, August 1st. The stock was bought at an average price of $216.15 per share, for a total transaction of $259,380.00. Following the purchase, the insider now directly owns 102,200 shares in the company, valued at $22,090,530. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.90% of the company’s stock.

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.