abrdn plc Acquires 13,079 Shares of CDW Co. (NASDAQ:CDW)

abrdn plc boosted its holdings in CDW Co. (NASDAQ:CDW) by 31.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 54,725 shares of the information technology services provider’s stock after buying an additional 13,079 shares during the quarter. abrdn plc’s holdings in CDW were worth $12,409,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the business. RDA Financial Network raised its holdings in CDW by 3.0% during the 2nd quarter. RDA Financial Network now owns 1,587 shares of the information technology services provider’s stock worth $355,000 after purchasing an additional 46 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. raised its holdings in CDW by 1.4% during the 1st quarter. Tokio Marine Asset Management Co. Ltd. now owns 3,446 shares of the information technology services provider’s stock worth $881,000 after purchasing an additional 47 shares during the last quarter. Oregon Public Employees Retirement Fund raised its holdings in CDW by 0.5% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 11,541 shares of the information technology services provider’s stock worth $2,583,000 after purchasing an additional 54 shares during the last quarter. Smithfield Trust Co raised its holdings in CDW by 4.1% during the 1st quarter. Smithfield Trust Co now owns 1,434 shares of the information technology services provider’s stock worth $367,000 after purchasing an additional 57 shares during the last quarter. Finally, Profund Advisors LLC increased its stake in shares of CDW by 0.5% in the 2nd quarter. Profund Advisors LLC now owns 12,469 shares of the information technology services provider’s stock valued at $2,791,000 after acquiring an additional 58 shares in the last quarter. Institutional investors own 93.15% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. JPMorgan Chase & Co. lowered shares of CDW from an “overweight” rating to a “neutral” rating and lowered their price objective for the company from $260.00 to $235.00 in a research note on Monday, October 28th. Stifel Nicolaus lifted their price objective on shares of CDW from $250.00 to $260.00 and gave the company a “buy” rating in a research note on Wednesday, July 17th. Barclays lowered their price objective 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. Finally, Citigroup lowered shares of CDW from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $250.00 to $245.00 in a research note on Tuesday, October 1st. Four analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, CDW has an average rating of “Hold” and a consensus price target of $246.71.

CDW Trading Up 0.1 %

NASDAQ CDW opened at $188.38 on Friday. The stock has a market capitalization of $25.16 billion, a price-to-earnings ratio of 23.03, a PEG ratio of 2.96 and a beta of 1.03. CDW Co. has a one year low of $187.73 and a one year high of $263.37. The company has a debt-to-equity ratio of 2.39, a current ratio of 1.40 and a quick ratio of 1.02. The business’s fifty day moving average is $220.12 and its 200-day moving average is $223.72.

CDW (NASDAQ:CDW) last released its earnings results on Wednesday, July 31st. The information technology services provider reported $2.34 EPS for the quarter, missing analysts’ consensus estimates of $2.39 by ($0.05). The business had revenue of $5.42 billion for the quarter, compared to the consensus estimate of $5.43 billion. CDW had a return on equity of 58.31% and a net margin of 5.33%. The company’s revenue for the quarter was down 3.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.43 earnings per share. Equities research analysts predict that CDW Co. will post 9.38 EPS for the current year.

CDW Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Monday, November 25th will be paid a $0.625 dividend. This is a boost from CDW’s previous quarterly dividend of $0.62. This represents a $2.50 dividend on an annualized basis and a yield of 1.33%. The ex-dividend date is Monday, November 25th. CDW’s payout ratio is currently 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.