Jacobson & Schmitt Advisors LLC Raises Stock Holdings in CDW Co. (NASDAQ:CDW)

Jacobson & Schmitt Advisors LLC raised its holdings in shares of CDW Co. (NASDAQ:CDW) by 3.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 67,571 shares of the information technology services provider’s stock after acquiring an additional 2,297 shares during the period. CDW comprises approximately 3.1% of Jacobson & Schmitt Advisors LLC’s portfolio, making the stock its 9th biggest holding. Jacobson & Schmitt Advisors LLC owned about 0.05% of CDW worth $15,291,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. RDA Financial Network grew its position in CDW by 3.0% during the second quarter. RDA Financial Network now owns 1,587 shares of the information technology services provider’s stock valued at $355,000 after acquiring an additional 46 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. grew its holdings in shares of CDW by 1.4% in the first 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 grew its holdings in shares of CDW by 0.5% in the second 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 grew its holdings in shares of CDW by 4.1% in the first 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 grew its holdings in shares of CDW by 0.5% in the second quarter. Profund Advisors LLC now owns 12,469 shares of the information technology services provider’s stock worth $2,791,000 after purchasing an additional 58 shares during the last quarter. 93.15% of the stock is currently owned by institutional investors.

CDW Stock Performance

NASDAQ:CDW opened at $188.23 on Friday. The stock has a market cap of $25.14 billion, a P/E ratio of 23.01, a price-to-earnings-growth ratio of 2.96 and a beta of 1.03. The firm’s fifty day simple moving average is $220.86 and its 200 day simple moving average is $223.97. CDW Co. has a twelve month low of $185.04 and a twelve month high of $263.37. The company has a quick ratio of 1.02, a current ratio of 1.40 and a debt-to-equity ratio of 2.39.

CDW (NASDAQ:CDW) last released its quarterly earnings results 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). The company had revenue of $5.42 billion during the quarter, compared to the consensus estimate of $5.43 billion. CDW had a net margin of 5.33% and a return on equity of 58.31%. The business’s revenue was down 3.6% on a year-over-year basis. During the same quarter last year, the firm earned $2.43 EPS. As a group, 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. Shareholders of record on Monday, November 25th will be given a dividend of $0.625 per share. The ex-dividend date of this dividend is Monday, November 25th. This represents a $2.50 annualized dividend and a yield of 1.33%. This is a positive change from CDW’s previous quarterly dividend of $0.62. CDW’s dividend payout ratio (DPR) is currently 30.32%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. JPMorgan Chase & Co. cut shares of CDW from an “overweight” rating to a “neutral” rating and cut their target price for the stock from $260.00 to $235.00 in a report on Monday. Barclays cut their target price on shares of CDW from $229.00 to $201.00 and set an “equal weight” rating on the stock in a report on Thursday. Citigroup cut shares of 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, Stifel Nicolaus raised their target price on shares of CDW from $250.00 to $260.00 and gave the stock a “buy” rating in a report on Wednesday, July 17th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $246.71.

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.