Vaughan Nelson Investment Management L.P. Raises Stock Holdings in CDW Co. (NASDAQ:CDW)

Vaughan Nelson Investment Management L.P. lifted its holdings in shares of CDW Co. (NASDAQ:CDW) by 20.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 184,613 shares of the information technology services provider’s stock after acquiring an additional 31,794 shares during the period. Vaughan Nelson Investment Management L.P. owned 0.14% of CDW worth $41,778,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. ORG Partners LLC purchased a new stake in CDW during the 2nd quarter valued at approximately $34,000. Quest Partners LLC acquired a new position in shares of CDW in the second quarter valued at approximately $35,000. Canoe Financial LP purchased a new stake in shares of CDW during the third quarter worth approximately $37,000. Fortitude Family Office LLC lifted its holdings in shares of CDW by 350.0% during the third quarter. Fortitude Family Office LLC now owns 171 shares of the information technology services provider’s stock worth $39,000 after purchasing an additional 133 shares during the period. Finally, Summit Securities Group LLC purchased a new position in CDW in the 2nd quarter valued at $40,000. 93.15% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

CDW Stock Performance

CDW opened at $177.63 on Friday. CDW Co. has a 1-year low of $175.94 and a 1-year high of $263.37. The stock has a market cap of $23.67 billion, a P/E ratio of 21.72, a P/E/G ratio of 5.19 and a beta of 1.05. The stock’s 50 day simple moving average is $213.49 and its 200 day simple moving average is $219.90. The company has a debt-to-equity ratio of 2.39, a current ratio of 1.40 and a quick ratio of 1.28.

CDW (NASDAQ:CDW) last posted its 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 firm had revenue of $5.52 billion during the quarter, compared to analyst estimates 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 period last year, the company posted $2.60 EPS. As a group, equities analysts anticipate that CDW Co. will post 9.05 EPS for the current fiscal year.

CDW Increases Dividend

The firm also recently announced 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 is Monday, November 25th. This represents a $2.50 dividend on an annualized basis and a yield of 1.41%. This is a boost from CDW’s previous quarterly dividend of $0.62. CDW’s payout ratio is presently 30.56%.

CDW Company 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.