Forsta AP Fonden Has $7.81 Million Stock Position in CDW Co. (NASDAQ:CDW)

Forsta AP Fonden boosted its holdings in shares of CDW Co. (NASDAQ:CDW) by 0.2% in the 4th quarter, Holdings Channel.com reports. The firm owned 44,900 shares of the information technology services provider’s stock after purchasing an additional 100 shares during the quarter. Forsta AP Fonden’s holdings in CDW were worth $7,814,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of CDW. Massachusetts Financial Services Co. MA acquired a new position in shares of CDW in the 3rd quarter worth approximately $416,111,000. Janus Henderson Group PLC grew its holdings in shares of CDW by 7,029.1% in the 3rd quarter. Janus Henderson Group PLC now owns 1,466,597 shares of the information technology services provider’s stock worth $331,891,000 after purchasing an additional 1,446,025 shares during the last quarter. Holocene Advisors LP bought a new stake in shares of CDW in the 3rd quarter worth about $172,217,000. Perpetual Ltd acquired a new position in CDW in the third quarter valued at about $158,300,000. Finally, Assenagon Asset Management S.A. grew its stake in CDW by 7,549.9% during 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 buying an additional 252,921 shares during the last quarter. 93.15% of the stock is owned by institutional investors.

CDW Trading Up 1.1 %

CDW opened at $197.76 on Friday. The firm has a 50 day simple moving average of $181.31 and a 200 day simple moving average of $203.80. CDW Co. has a fifty-two week low of $168.43 and a fifty-two week high of $263.37. The company has a market cap of $26.35 billion, a price-to-earnings ratio of 24.18, a price-to-earnings-growth ratio of 5.26 and a beta of 1.01. 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 quarterly earnings results on Wednesday, October 30th. The information technology services provider reported $2.63 earnings per share for the quarter, missing analysts’ consensus estimates of $2.68 by ($0.05). CDW had a net margin of 5.33% and a return on equity of 58.31%. The company had revenue of $5.52 billion during the quarter, compared to analyst estimates of $5.72 billion. During the same period last year, the company earned $2.60 EPS. The business’s revenue for the quarter was down 2.0% compared to the same quarter last year. On average, sell-side analysts anticipate that CDW Co. will post 8.99 earnings per share for the current year.

CDW Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Monday, November 25th were paid a $0.625 dividend. This is a positive change from CDW’s previous quarterly dividend of $0.62. The ex-dividend date was Monday, November 25th. This represents a $2.50 annualized dividend and a yield of 1.26%. CDW’s dividend payout ratio is presently 30.56%.

Analyst Ratings Changes

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

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.