Empowered Funds LLC Buys 5,456 Shares of CDW Co. (NASDAQ:CDW)

Empowered Funds LLC increased its position in CDW Co. (NASDAQ:CDW) by 33.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 21,890 shares of the information technology services provider’s stock after purchasing an additional 5,456 shares during the quarter. Empowered Funds LLC’s holdings in CDW were worth $4,954,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of CDW. Orion Portfolio Solutions LLC increased its stake in shares of CDW by 6.5% during the first quarter. Orion Portfolio Solutions LLC now owns 6,185 shares of the information technology services provider’s stock valued at $1,582,000 after buying an additional 377 shares during the period. Acadian Asset Management LLC increased its position in CDW by 211.5% during the 1st quarter. Acadian Asset Management LLC now owns 44,205 shares of the information technology services provider’s stock valued at $11,302,000 after purchasing an additional 30,012 shares during the period. Ontario Teachers Pension Plan Board raised its holdings in shares of CDW by 71.4% in the 1st quarter. Ontario Teachers Pension Plan Board now owns 8,075 shares of the information technology services provider’s stock valued at $2,065,000 after purchasing an additional 3,365 shares in the last quarter. O Shaughnessy Asset Management LLC lifted its position in shares of CDW by 6.6% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 23,923 shares of the information technology services provider’s stock worth $6,119,000 after purchasing an additional 1,490 shares during the period. Finally, UniSuper Management Pty Ltd boosted its stake in shares of CDW by 29.9% during the first quarter. UniSuper Management Pty Ltd now owns 21,056 shares of the information technology services provider’s stock valued at $5,386,000 after purchasing an additional 4,845 shares in the last quarter. 93.15% of the stock is currently owned by hedge funds and other institutional investors.

CDW Trading Down 1.7 %

Shares of NASDAQ:CDW opened at $177.63 on Monday. The company has a debt-to-equity ratio of 2.39, a current ratio of 1.40 and a quick ratio of 1.28. The firm has a market capitalization of $23.67 billion, a P/E ratio of 21.72, a P/E/G ratio of 4.96 and a beta of 1.05. The business’s 50-day moving average is $213.49 and its 200 day moving average is $219.94. CDW Co. has a 1 year low of $175.94 and a 1 year high of $263.37.

CDW (NASDAQ:CDW) last announced its quarterly earnings data 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 company 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 revenue for the quarter was down 2.0% compared to the same quarter last year. During the same period in the previous year, the business earned $2.60 earnings per share. On average, research analysts predict that CDW Co. will post 9.05 earnings per share 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 paid a dividend of $0.625 per share. This is an increase from CDW’s previous quarterly dividend of $0.62. This represents a $2.50 annualized dividend and a dividend yield of 1.41%. The ex-dividend date of this dividend is Monday, November 25th. CDW’s payout ratio is presently 30.32%.

Wall Street Analysts Forecast Growth

CDW has been the subject of a number of analyst reports. Redburn Atlantic assumed coverage on CDW in a report on Friday. They set a “buy” rating and a $230.00 target price for the company. JPMorgan Chase & Co. downgraded CDW from an “overweight” rating to a “neutral” rating and dropped their price objective for the company 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 reduced their target price for the stock from $250.00 to $245.00 in a report on Tuesday, October 1st. Finally, Barclays decreased their price target on shares of CDW from $229.00 to $201.00 and set an “equal weight” rating for the company in a research report on Thursday, October 31st. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $244.63.

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.