Victory Capital Management Inc. Has $33.86 Million Stake in CDW Co. (NASDAQ:CDW)

Victory Capital Management Inc. lessened its stake in shares of CDW Co. (NASDAQ:CDW) by 16.1% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 149,610 shares of the information technology services provider’s stock after selling 28,699 shares during the period. Victory Capital Management Inc. owned 0.11% of CDW worth $33,857,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. RDA Financial Network boosted its position in shares of 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 in the last quarter. PDS Planning Inc increased its holdings in shares of CDW by 4.3% during the third quarter. PDS Planning Inc now owns 1,186 shares of the information technology services provider’s stock valued at $268,000 after acquiring an additional 49 shares in the last quarter. Oregon Public Employees Retirement Fund raised its position in shares of CDW by 0.5% during 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 period. Profund Advisors LLC lifted its holdings 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 worth $2,791,000 after purchasing an additional 58 shares in the last quarter. Finally, Elo Mutual Pension Insurance Co grew its position in CDW by 0.5% in the 2nd quarter. Elo Mutual Pension Insurance Co now owns 12,301 shares of the information technology services provider’s stock valued at $2,753,000 after purchasing an additional 61 shares during the period. 93.15% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have weighed in on CDW shares. Citigroup downgraded shares of CDW from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $250.00 to $245.00 in a report on Tuesday, October 1st. Redburn Atlantic initiated coverage on shares of CDW in a report on Friday. They issued a “buy” rating and a $230.00 target price on the stock. Barclays cut their price target on CDW from $229.00 to $201.00 and set an “equal weight” rating for the company in a research note on Thursday, October 31st. Finally, JPMorgan Chase & Co. downgraded CDW from an “overweight” rating to a “neutral” rating and lowered their price objective for the stock from $260.00 to $235.00 in a research note on Monday, October 28th. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $244.63.

CDW Stock Performance

CDW stock 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 firm has a market cap of $23.67 billion, a PE ratio of 21.72, a P/E/G ratio of 5.19 and a beta of 1.05. The business has a 50 day moving average of $213.49 and a 200-day moving average of $219.90. The company has a quick ratio of 1.28, a current ratio of 1.40 and a debt-to-equity ratio of 2.39.

CDW (NASDAQ:CDW) last posted its quarterly 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). The company had revenue of $5.52 billion for the quarter, compared to the consensus estimate of $5.72 billion. CDW had a net margin of 5.33% and a return on equity of 58.31%. CDW’s quarterly revenue was down 2.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.60 EPS. As a group, sell-side analysts expect that CDW Co. will post 9.05 earnings per share 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 an increase from CDW’s previous quarterly dividend of $0.62. The ex-dividend date of this dividend is Monday, November 25th. This represents a $2.50 annualized dividend and a yield of 1.41%. CDW’s dividend payout ratio is presently 30.56%.

CDW 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.