State Street Corp Has $1.29 Billion Position in CDW Co. (NASDAQ:CDW)

State Street Corp boosted its position in CDW Co. (NASDAQ:CDW) by 1.1% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 5,719,348 shares of the information technology services provider’s stock after buying an additional 64,702 shares during the quarter. State Street Corp owned approximately 4.29% of CDW worth $1,294,288,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of CDW. PDS Planning Inc grew its stake in CDW by 4.3% in the third quarter. PDS Planning Inc now owns 1,186 shares of the information technology services provider’s stock valued at $268,000 after purchasing an additional 49 shares in the last quarter. Oregon Public Employees Retirement Fund boosted its holdings in shares of CDW by 0.5% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 11,541 shares of the information technology services provider’s stock valued at $2,583,000 after buying an additional 54 shares during the last quarter. Profund Advisors LLC grew its stake 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 valued at $2,791,000 after buying an additional 58 shares in the last quarter. OneAscent Wealth Management LLC lifted its stake in CDW by 2.5% in the third quarter. OneAscent Wealth Management LLC now owns 2,387 shares of the information technology services provider’s stock valued at $540,000 after acquiring an additional 58 shares during the last quarter. Finally, Elo Mutual Pension Insurance Co grew its position in shares of 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 acquiring an additional 61 shares during the period. Institutional investors own 93.15% of the company’s stock.

CDW Stock Performance

Shares of CDW stock opened at $180.06 on Friday. CDW Co. has a 1-year low of $172.95 and a 1-year high of $263.37. The company has a 50 day moving average of $200.31 and a 200-day moving average of $215.36. 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 market cap of $23.99 billion, a PE ratio of 22.01, a price-to-earnings-growth ratio of 5.05 and a beta of 1.02.

CDW (NASDAQ:CDW) last announced its quarterly earnings results on Wednesday, October 30th. The information technology services provider reported $2.63 earnings per share (EPS) 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%. The company’s revenue for the quarter was down 2.0% compared to the same quarter last year. During the same period last year, the firm posted $2.60 earnings per share. As a group, equities research analysts forecast that CDW Co. will post 8.99 earnings per share for the current fiscal year.

CDW Increases Dividend

The company also recently announced 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 1.39%. The ex-dividend date of this dividend is Monday, November 25th. This is a boost from CDW’s previous quarterly dividend of $0.62. CDW’s dividend payout ratio is presently 30.56%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on CDW shares. Citigroup downgraded CDW from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $250.00 to $245.00 in a research report on Tuesday, October 1st. JPMorgan Chase & Co. lowered shares of CDW from an “overweight” rating to a “neutral” rating and lowered their price target for the stock from $260.00 to $235.00 in a research report on Monday, October 28th. Barclays dropped 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, October 31st. Finally, Redburn Atlantic began coverage on shares of CDW in a research report on Friday, November 15th. They set a “buy” rating and a $230.00 target price on the stock. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $244.63.

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.