Victory Capital Management Inc. lessened its stake in CDW Co. (NASDAQ:CDW) by 4.0% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,122,344 shares of the information technology services provider’s stock after selling 46,721 shares during the period. Victory Capital Management Inc. owned 0.78% of CDW worth $134,154,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Triad Investment Management purchased a new position in CDW during the third quarter valued at approximately $1,279,000. LPL Financial LLC increased its position in shares of CDW by 39.1% during the third quarter. LPL Financial LLC now owns 18,654 shares of the information technology services provider’s stock worth $2,230,000 after purchasing an additional 5,248 shares in the last quarter. Commerce Bank increased its position in shares of CDW by 23.1% during the third quarter. Commerce Bank now owns 46,514 shares of the information technology services provider’s stock worth $5,559,000 after purchasing an additional 8,726 shares in the last quarter. M&T Bank Corp boosted its stake in CDW by 4.0% during the third quarter. M&T Bank Corp now owns 103,840 shares of the information technology services provider’s stock worth $12,413,000 after buying an additional 4,022 shares during the last quarter. Finally, HighPoint Advisor Group LLC boosted its stake in CDW by 9.3% during the third quarter. HighPoint Advisor Group LLC now owns 3,226 shares of the information technology services provider’s stock worth $446,000 after buying an additional 274 shares during the last quarter. Institutional investors own 89.91% of the company’s stock.
Shares of CDW stock traded down $2.01 during trading hours on Tuesday, hitting $137.07. The company’s stock had a trading volume of 3,322 shares, compared to its average volume of 1,043,578. The firm has a fifty day moving average of $128.52 and a 200-day moving average of $116.89. CDW Co. has a twelve month low of $73.39 and a twelve month high of $146.95. The company has a debt-to-equity ratio of 3.12, a quick ratio of 1.33 and a current ratio of 1.50. The stock has a market cap of $19.89 billion, a price-to-earnings ratio of 27.43, a P/E/G ratio of 1.70 and a beta of 1.17.
CDW (NASDAQ:CDW) last posted its earnings results on Monday, November 2nd. The information technology services provider reported $1.83 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.51 by $0.32. CDW had a return on equity of 88.43% and a net margin of 4.08%. The firm had revenue of $4.76 billion for the quarter, compared to analyst estimates of $4.57 billion. During the same quarter in the prior year, the company earned $1.70 EPS. CDW’s revenue was down 3.1% on a year-over-year basis. On average, sell-side analysts expect that CDW Co. will post 6.08 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, December 10th. Investors of record on Wednesday, November 25th will be paid a dividend of $0.40 per share. This is a positive change from CDW’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend is Tuesday, November 24th. This represents a $1.60 annualized dividend and a yield of 1.17%. CDW’s dividend payout ratio is presently 25.25%.
A number of equities analysts have weighed in on the company. Credit Suisse Group boosted their price objective on CDW from $127.00 to $135.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 3rd. BidaskClub raised CDW from a “hold” rating to a “buy” rating in a research note on Thursday, November 5th. Smith Barney Citigroup boosted their price objective on CDW from $140.00 to $145.00 in a research note on Tuesday, November 3rd. Zacks Investment Research lowered CDW from a “buy” rating to a “hold” rating and set a $132.00 price objective on the stock. in a research note on Tuesday, October 6th. Finally, Morgan Stanley boosted their price objective on CDW from $136.00 to $144.00 and gave the stock an “equal weight” rating in a research note on Tuesday, November 3rd. One analyst has rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $134.60.
CDW Corporation provides integrated information technology (IT) solutions to business, government, education, and healthcare customers 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, as well as integrated IT solutions, including mobility, security, data center optimization, cloud computing, virtualization, and collaboration.
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