Assetmark Inc. Acquires 265 Shares of CDW Co. (NASDAQ:CDW)

Assetmark Inc. boosted its holdings in CDW Co. (NASDAQ:CDW) by 37.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 975 shares of the information technology services provider’s stock after buying an additional 265 shares during the period. Assetmark Inc.’s holdings in CDW were worth $221,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of CDW. Orion Portfolio Solutions LLC lifted its holdings in shares of CDW by 6.5% in the first quarter. Orion Portfolio Solutions LLC now owns 6,185 shares of the information technology services provider’s stock worth $1,582,000 after buying an additional 377 shares in the last quarter. Vanguard Group Inc. lifted its stake in CDW by 4.6% in 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 purchasing an additional 714,393 shares in the last quarter. Acadian Asset Management LLC boosted its holdings in CDW by 211.5% in the 1st quarter. Acadian Asset Management LLC now owns 44,205 shares of the information technology services provider’s stock valued at $11,302,000 after purchasing an additional 30,012 shares during the period. Ontario Teachers Pension Plan Board grew its position in shares of CDW by 71.4% during the 1st quarter. Ontario Teachers Pension Plan Board now owns 8,075 shares of the information technology services provider’s stock valued at $2,065,000 after purchasing an additional 3,365 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC grew its position in shares of CDW by 6.6% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 23,923 shares of the information technology services provider’s stock valued at $6,119,000 after purchasing an additional 1,490 shares in the last quarter. Institutional investors own 93.15% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on CDW shares. Citigroup cut CDW from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $250.00 to $245.00 in a research report on Tuesday, October 1st. Barclays cut 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. Redburn Atlantic assumed coverage on shares of CDW in a research note on Friday. They issued a “buy” rating and a $230.00 target price on the stock. Finally, JPMorgan Chase & Co. cut shares of CDW from an “overweight” rating to a “neutral” rating and cut their price target for the stock from $260.00 to $235.00 in a research note on Monday, October 28th. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, CDW presently has an average rating of “Moderate Buy” and a consensus price target of $244.63.

CDW Stock Down 1.7 %

CDW opened at $177.63 on Friday. CDW Co. has a 12 month low of $175.94 and a 12 month high of $263.37. 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 business’s 50-day moving average price is $213.49 and its 200-day moving average price is $219.90. The company has a market cap of $23.67 billion, a P/E ratio of 21.72, a P/E/G ratio of 5.19 and a beta of 1.05.

CDW (NASDAQ:CDW) last announced its quarterly earnings results on Wednesday, October 30th. The information technology services provider reported $2.63 EPS for the quarter, missing analysts’ consensus estimates of $2.68 by ($0.05). The company had revenue of $5.52 billion during the quarter, compared to analysts’ expectations of $5.72 billion. CDW had a return on equity of 58.31% and a net margin of 5.33%. CDW’s revenue for the quarter was down 2.0% on a year-over-year basis. During the same period last year, the firm earned $2.60 earnings per share. On average, equities analysts expect that CDW Co. will post 9.05 EPS for the current year.

CDW Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Monday, November 25th will be issued a $0.625 dividend. This represents a $2.50 dividend on an annualized basis and a yield of 1.41%. The ex-dividend date is Monday, November 25th. This is a positive change from CDW’s previous quarterly dividend of $0.62. CDW’s dividend payout ratio (DPR) is 30.56%.

CDW Company 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.