Nordea Investment Management AB Acquires 395 Shares of CDW Co. (NASDAQ:CDW)

Nordea Investment Management AB increased its holdings in shares of CDW Co. (NASDAQ:CDW) by 3.6% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 11,260 shares of the information technology services provider’s stock after purchasing an additional 395 shares during the period. Nordea Investment Management AB’s holdings in CDW were worth $1,967,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Oddo BHF Asset Management Sas bought a new position in CDW during the third quarter worth about $1,629,000. Franklin Resources Inc. boosted its holdings in shares of CDW by 3.4% during the third quarter. Franklin Resources Inc. now owns 108,009 shares of the information technology services provider’s stock worth $24,138,000 after acquiring an additional 3,567 shares during the period. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund bought a new stake in shares of CDW during the third quarter worth approximately $12,761,000. Thrivent Financial for Lutherans boosted its holdings in shares of CDW by 12.8% during the third quarter. Thrivent Financial for Lutherans now owns 599,900 shares of the information technology services provider’s stock worth $135,758,000 after acquiring an additional 68,023 shares during the period. Finally, Fortem Financial Group LLC bought a new stake in shares of CDW during the third quarter worth approximately $1,061,000. Institutional investors own 93.15% of the company’s stock.

CDW Stock Up 1.0 %

NASDAQ CDW opened at $183.14 on Friday. CDW Co. has a 1-year low of $168.43 and a 1-year high of $263.37. The company has a market cap of $24.41 billion, a price-to-earnings ratio of 22.39, a PEG ratio of 5.01 and a beta of 1.01. 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 company has a 50 day moving average of $180.30 and a 200-day moving average of $206.52.

CDW (NASDAQ:CDW) last released its earnings results on Wednesday, October 30th. The information technology services provider reported $2.63 earnings per share for the quarter, missing the consensus estimate of $2.68 by ($0.05). CDW had a return on equity of 58.31% and a net margin of 5.33%. The business had revenue of $5.52 billion for the quarter, compared to the consensus estimate of $5.72 billion. During the same quarter in the previous year, the company earned $2.60 earnings per share. The firm’s revenue for the quarter was down 2.0% on a year-over-year basis. On average, equities research analysts expect that CDW Co. will post 8.99 earnings per share for the current fiscal year.

CDW Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Monday, November 25th were paid a dividend of $0.625 per share. The ex-dividend date was Monday, November 25th. This is a boost from CDW’s previous quarterly dividend of $0.62. This represents a $2.50 annualized dividend and a yield of 1.37%. CDW’s dividend payout ratio is presently 30.56%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on CDW. Citigroup cut CDW from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $250.00 to $245.00 in a report on Tuesday, October 1st. Barclays reduced their price objective on CDW from $229.00 to $201.00 and set an “equal weight” rating for the company in a report on Thursday, October 31st. JPMorgan Chase & Co. cut CDW from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $260.00 to $235.00 in a report on Monday, October 28th. Redburn Atlantic initiated coverage on CDW in a report on Friday, November 15th. They set a “buy” rating and a $230.00 price objective for the company. Finally, UBS Group dropped their price target on shares of CDW from $233.00 to $220.00 and set a “buy” rating for the company in a research report on Tuesday, January 7th. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $239.33.

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.