KBC Group NV Trims Stake in CDW Co. (NASDAQ:CDW)

KBC Group NV cut its holdings in CDW Co. (NASDAQ:CDW) by 49.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 29,759 shares of the information technology services provider’s stock after selling 29,413 shares during the period. KBC Group NV’s holdings in CDW were worth $6,734,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of CDW. Orion Portfolio Solutions LLC increased its position in 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. increased its holdings 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 acquiring an additional 714,393 shares in the last quarter. Acadian Asset Management LLC raised its stake in CDW by 211.5% during the 1st quarter. Acadian Asset Management LLC now owns 44,205 shares of the information technology services provider’s stock worth $11,302,000 after acquiring an additional 30,012 shares during the period. Ontario Teachers Pension Plan Board lifted its holdings in CDW by 71.4% during the first 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 boosted its position in shares of CDW by 6.6% in the first quarter. O Shaughnessy Asset Management LLC now owns 23,923 shares of the information technology services provider’s stock worth $6,119,000 after purchasing an additional 1,490 shares during the period. Hedge funds and other institutional investors own 93.15% of the company’s stock.

CDW Stock Performance

CDW stock opened at $177.63 on Friday. 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 Co. has a twelve month low of $175.94 and a twelve month high of $263.37. The company’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 PE ratio of 21.72, a price-to-earnings-growth ratio of 5.19 and a beta of 1.05.

CDW (NASDAQ:CDW) last issued its quarterly earnings data 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 return on equity of 58.31% and a net margin of 5.33%. The company’s revenue was down 2.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.60 earnings per share. On average, equities research analysts forecast that CDW Co. will post 9.05 EPS for the current fiscal year.

CDW Increases Dividend

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

Wall Street Analyst Weigh In

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

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.