Principal Financial Group Inc. Has $38.89 Million Stake in CDW Co. (NASDAQ:CDW)

Principal Financial Group Inc. lifted its position in shares of CDW Co. (NASDAQ:CDW) by 0.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 171,839 shares of the information technology services provider’s stock after buying an additional 377 shares during the quarter. Principal Financial Group Inc.’s holdings in CDW were worth $38,887,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. boosted its holdings 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 worth $4,196,721,000 after buying an additional 714,393 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in CDW by 3.7% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,431,573 shares of the information technology services provider’s stock worth $366,168,000 after acquiring an additional 51,450 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in CDW by 11.0% in the second quarter. Dimensional Fund Advisors LP now owns 1,292,674 shares of the information technology services provider’s stock worth $289,357,000 after purchasing an additional 128,263 shares during the period. Lazard Asset Management LLC increased its stake in CDW by 225.9% in the first 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 in the last quarter. Finally, Bessemer Group Inc. raised its holdings in shares of CDW by 1.9% during the first quarter. Bessemer Group Inc. now owns 824,047 shares of the information technology services provider’s stock valued at $210,775,000 after purchasing an additional 15,304 shares during the period. Institutional investors own 93.15% of the company’s stock.

Analyst Ratings Changes

CDW has been the subject of a number of research analyst reports. Stifel Nicolaus boosted their target price on CDW from $250.00 to $260.00 and gave the company a “buy” rating in a research report on Wednesday, July 17th. JPMorgan Chase & Co. downgraded CDW from an “overweight” rating to a “neutral” rating and decreased their price objective for the company from $260.00 to $235.00 in a report on Monday, October 28th. Citigroup cut CDW from a “buy” rating to a “neutral” rating and cut their target price for the stock from $250.00 to $245.00 in a report on Tuesday, October 1st. Finally, Barclays decreased their price target on shares of CDW from $229.00 to $201.00 and set an “equal weight” rating for the company in a research note on Thursday, October 31st. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, CDW currently has an average rating of “Hold” and an average price target of $246.71.

CDW Trading Down 1.0 %

Shares of CDW stock opened at $197.81 on Tuesday. The company has a current ratio of 1.40, a quick ratio of 1.28 and a debt-to-equity ratio of 2.39. The stock has a fifty day simple moving average of $215.94 and a 200 day simple moving average of $221.41. CDW Co. has a 12-month low of $187.73 and a 12-month high of $263.37. The company has a market capitalization of $26.36 billion, a P/E ratio of 24.18, a price-to-earnings-growth ratio of 5.58 and a beta of 1.05.

CDW (NASDAQ:CDW) last announced its earnings results on Wednesday, October 30th. The information technology services provider reported $2.63 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 firm had revenue of $5.52 billion during the quarter, compared to analysts’ expectations of $5.72 billion. During the same quarter in the prior year, the company earned $2.60 EPS. The business’s revenue for the quarter was down 2.0% on a year-over-year basis. On average, sell-side analysts anticipate that CDW Co. will post 9.05 earnings per share for the current fiscal year.

CDW Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders 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 1.26%. The ex-dividend date of this dividend is Monday, November 25th. This is an increase from CDW’s previous quarterly dividend of $0.62. CDW’s payout ratio is presently 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.