AEGON ASSET MANAGEMENT UK Plc Acquires New Position in CDW Co. (NASDAQ:CDW)

AEGON ASSET MANAGEMENT UK Plc bought a new position in CDW Co. (NASDAQ:CDW) in the 4th quarter, Holdings Channel.com reports. The institutional investor bought 43,251 shares of the information technology services provider’s stock, valued at approximately $7,527,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Massachusetts Financial Services Co. MA bought a new stake in CDW in the 3rd quarter worth about $416,111,000. Janus Henderson Group PLC grew its stake in shares of CDW by 7,029.1% in the third quarter. Janus Henderson Group PLC now owns 1,466,597 shares of the information technology services provider’s stock worth $331,891,000 after acquiring an additional 1,446,025 shares during the period. Holocene Advisors LP purchased a new position in shares of CDW during the third quarter valued at approximately $172,217,000. Perpetual Ltd bought a new position in CDW during the third quarter valued at approximately $158,300,000. Finally, Assenagon Asset Management S.A. boosted its holdings in CDW by 7,549.9% in the fourth quarter. Assenagon Asset Management S.A. now owns 256,271 shares of the information technology services provider’s stock worth $44,601,000 after purchasing an additional 252,921 shares during the last quarter. Institutional investors own 93.15% of the company’s stock.

CDW Price Performance

NASDAQ CDW opened at $195.13 on Friday. The company has a current ratio of 1.40, a quick ratio of 1.28 and a debt-to-equity ratio of 2.39. CDW Co. has a 12 month low of $168.43 and a 12 month high of $263.37. The stock has a market cap of $26.00 billion, a price-to-earnings ratio of 23.85, a PEG ratio of 5.26 and a beta of 1.01. The company’s 50 day moving average is $179.79 and its two-hundred day moving average is $204.45.

CDW (NASDAQ:CDW) last announced its quarterly earnings data on Wednesday, October 30th. The information technology services provider reported $2.63 EPS for the quarter, missing the consensus estimate of $2.68 by ($0.05). The firm 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 firm’s revenue for the quarter was down 2.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.60 earnings per share. As a group, research analysts anticipate that CDW Co. will post 8.99 earnings per share for the current year.

CDW Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Monday, November 25th were given a dividend of $0.625 per share. The ex-dividend date of this dividend was Monday, November 25th. This represents a $2.50 annualized dividend and a dividend yield of 1.28%. This is a boost from CDW’s previous quarterly dividend of $0.62. CDW’s dividend payout ratio (DPR) is currently 30.56%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. JPMorgan Chase & Co. lowered shares of CDW from an “overweight” rating to a “neutral” rating and decreased their target price for the company from $260.00 to $235.00 in a research note on Monday, October 28th. Redburn Atlantic initiated coverage on CDW in a report on Friday, November 15th. They issued a “buy” rating and a $230.00 target price on the stock. UBS Group cut their price target on CDW from $233.00 to $220.00 and set a “buy” rating for the company in a research note on Tuesday, January 7th. Morgan Stanley increased their price objective on shares of CDW from $190.00 to $193.00 and gave the stock an “equal weight” rating in a research note on Monday, December 16th. Finally, Citigroup lowered shares of CDW from a “buy” rating to a “neutral” rating and cut their target price for the company from $250.00 to $245.00 in a research report on Tuesday, October 1st. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $239.33.

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.