United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund Takes Position in CDW Co. (NASDAQ:CDW)

United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund bought a new position in CDW Co. (NASDAQ:CDW) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 56,391 shares of the information technology services provider’s stock, valued at approximately $12,761,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. ORG Partners LLC acquired a new position in CDW in the 2nd quarter worth approximately $34,000. Quest Partners LLC purchased a new stake in shares of CDW in the second quarter valued at $35,000. Canoe Financial LP acquired a new stake in shares of CDW in the third quarter worth $37,000. Fortitude Family Office LLC grew 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 valued at $39,000 after buying an additional 133 shares in the last quarter. Finally, Summit Securities Group LLC purchased a new position in shares of CDW during the second quarter valued at $40,000. 93.15% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CDW has been the subject of a number of research reports. Stifel Nicolaus raised their price objective on CDW from $250.00 to $260.00 and gave the stock a “buy” rating in a research report on Wednesday, July 17th. JPMorgan Chase & Co. lowered shares of CDW from an “overweight” rating to a “neutral” rating and reduced their price target for the stock from $260.00 to $235.00 in a research report on Monday, October 28th. Citigroup downgraded shares of CDW from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $250.00 to $245.00 in a research report on Tuesday, October 1st. Finally, Barclays decreased 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. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $246.71.

CDW Stock Performance

CDW stock opened at $186.01 on Thursday. The firm has a 50 day moving average of $214.86 and a two-hundred day moving average of $220.81. CDW Co. has a 12 month low of $185.70 and a 12 month high of $263.37. The company has a market capitalization of $24.79 billion, a price-to-earnings ratio of 22.74, a P/E/G ratio of 5.35 and a beta of 1.05. 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 (NASDAQ:CDW) last issued its quarterly earnings data on Wednesday, October 30th. The information technology services provider reported $2.63 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.68 by ($0.05). The business had revenue of $5.52 billion during 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 for the quarter was down 2.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.60 earnings per share. As a group, equities analysts anticipate that CDW Co. will post 9.05 EPS for the current fiscal year.

CDW Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders 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 of this dividend is Monday, November 25th. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.34%. CDW’s dividend payout ratio is currently 30.32%.

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.