CDW Co. (NASDAQ:CDW) Shares Acquired by Eventide Asset Management LLC

Eventide Asset Management LLC grew its stake in CDW Co. (NASDAQ:CDW) by 8.9% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 220,021 shares of the information technology services provider’s stock after buying an additional 18,037 shares during the quarter. Eventide Asset Management LLC owned 0.17% of CDW worth $49,791,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Peak Financial Advisors LLC acquired a new position in CDW in the 2nd quarter worth about $2,854,000. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund acquired a new position in CDW in the 3rd quarter worth about $12,761,000. Raymond James & Associates increased its stake in CDW by 16.6% during the 2nd quarter. Raymond James & Associates now owns 139,711 shares of the information technology services provider’s stock worth $31,273,000 after buying an additional 19,867 shares in the last quarter. Thrivent Financial for Lutherans increased its stake in CDW by 12.8% during the 3rd quarter. Thrivent Financial for Lutherans now owns 599,900 shares of the information technology services provider’s stock worth $135,758,000 after buying an additional 68,023 shares in the last quarter. Finally, Boston Partners increased its stake in CDW by 1.9% during the 1st quarter. Boston Partners now owns 807,590 shares of the information technology services provider’s stock worth $206,519,000 after buying an additional 15,178 shares in the last quarter. Institutional investors and hedge funds own 93.15% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on CDW. Redburn Atlantic began coverage on CDW in a research note on Friday, November 15th. They set a “buy” rating and a $230.00 price objective for the company. Citigroup lowered CDW from a “buy” rating to a “neutral” rating and dropped their price target for the company from $250.00 to $245.00 in a research report on Tuesday, October 1st. JPMorgan Chase & Co. cut 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 report on Monday, October 28th. Finally, Barclays decreased their price target on CDW from $229.00 to $201.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 31st. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $244.63.

CDW Stock Down 0.6 %

Shares of NASDAQ CDW opened at $176.75 on Friday. The stock has a market cap of $23.55 billion, a P/E ratio of 21.61, a PEG ratio of 4.97 and a beta of 1.05. 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 $172.95 and a 12-month high of $263.37. The business’s fifty day simple moving average is $205.86 and its 200-day simple moving average is $217.24.

CDW (NASDAQ:CDW) last posted its earnings results 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 business had revenue of $5.52 billion during the quarter, compared to analysts’ expectations of $5.72 billion. CDW had a net margin of 5.33% and a return on equity of 58.31%. The business’s quarterly revenue was down 2.0% compared to the same quarter last year. During the same period last year, the company earned $2.60 EPS. As a group, equities analysts predict that CDW Co. will post 8.99 EPS for the current fiscal year.

CDW Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Monday, November 25th will be issued a dividend of $0.625 per share. This is a positive change from CDW’s previous quarterly dividend of $0.62. The ex-dividend date is Monday, November 25th. This represents a $2.50 annualized dividend and a dividend yield of 1.41%. CDW’s dividend payout ratio (DPR) 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.