Tokio Marine Asset Management Co. Ltd. Grows Holdings in CDW Co. (NASDAQ:CDW)

Tokio Marine Asset Management Co. Ltd. raised its holdings in CDW Co. (NASDAQ:CDW) by 2.5% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,827 shares of the information technology services provider’s stock after purchasing an additional 92 shares during the period. Tokio Marine Asset Management Co. Ltd.’s holdings in CDW were worth $866,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the stock. Quest Partners LLC bought a new position in CDW during the 2nd quarter worth approximately $35,000. ORG Partners LLC acquired a new stake in shares of CDW during the second quarter worth $34,000. Canoe Financial LP bought a new position in shares of CDW in the 3rd quarter worth about $37,000. Fortitude Family Office LLC raised its position in shares of CDW by 350.0% during the 3rd 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 bought a new stake in CDW in the second quarter valued at $40,000. 93.15% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on CDW. Redburn Atlantic started coverage on shares of CDW in a research note on Friday. They set a “buy” rating and a $230.00 price objective on the stock. Barclays dropped their price target on shares of CDW from $229.00 to $201.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 31st. Citigroup cut shares of CDW from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $250.00 to $245.00 in a research note on Tuesday, October 1st. Finally, JPMorgan Chase & Co. lowered shares of CDW from an “overweight” rating to a “neutral” rating and cut their target price for the company from $260.00 to $235.00 in a research note on Monday, October 28th. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, CDW has a consensus rating of “Moderate Buy” and a consensus target price of $244.63.

CDW Trading Down 1.7 %

CDW stock opened at $177.63 on Friday. 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 Co. has a 12 month low of $175.94 and a 12 month high of $263.37. The company’s fifty day simple moving average is $213.49 and its 200-day simple moving average is $220.05. 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.

CDW (NASDAQ:CDW) last issued its quarterly earnings results on Wednesday, October 30th. The information technology services provider reported $2.63 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.68 by ($0.05). CDW had a net margin of 5.33% and a return on equity of 58.31%. The business had revenue of $5.52 billion during the quarter, compared to analyst estimates of $5.72 billion. During the same period in the prior year, the business posted $2.60 earnings per share. The company’s revenue for the quarter was down 2.0% compared to the same quarter last year. As a group, sell-side analysts forecast that CDW Co. will post 9.05 EPS for the current fiscal year.

CDW Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Monday, November 25th will be given a $0.625 dividend. 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. The ex-dividend date of this dividend is Monday, November 25th. CDW’s dividend payout ratio is 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.