Charles Schwab Investment Management Inc. Grows Holdings in CDW Co. (NASDAQ:CDW)

Charles Schwab Investment Management Inc. boosted its holdings in shares of CDW Co. (NASDAQ:CDW) by 1.0% during the 3rd quarter, HoldingsChannel reports. The firm owned 775,240 shares of the information technology services provider’s stock after purchasing an additional 7,764 shares during the period. Charles Schwab Investment Management Inc.’s holdings in CDW were worth $175,437,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Massachusetts Financial Services Co. MA acquired a new position in CDW in the 3rd quarter valued at about $416,111,000. Thompson Siegel & Walmsley LLC increased its holdings in shares of CDW by 8.8% in the third quarter. Thompson Siegel & Walmsley LLC now owns 24,712 shares of the information technology services provider’s stock valued at $5,592,000 after purchasing an additional 2,000 shares during the period. PNC Financial Services Group Inc. raised its stake in shares of CDW by 2.3% during the third quarter. PNC Financial Services Group Inc. now owns 696,733 shares of the information technology services provider’s stock worth $157,671,000 after purchasing an additional 15,527 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in shares of CDW during the third quarter worth $16,875,000. Finally, OneAscent Wealth Management LLC grew its position in CDW by 2.5% in the 3rd quarter. OneAscent Wealth Management LLC now owns 2,387 shares of the information technology services provider’s stock valued at $540,000 after buying an additional 58 shares during the last quarter. 93.15% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. JPMorgan Chase & Co. cut shares of CDW from an “overweight” rating to a “neutral” rating and reduced their target price for the stock from $260.00 to $235.00 in a research note on Monday, October 28th. Citigroup lowered 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 report on Tuesday, October 1st. Barclays cut their target price on CDW from $229.00 to $201.00 and set an “equal weight” rating for the company in a research note on Thursday, October 31st. Finally, Redburn Atlantic initiated coverage on CDW in a research note on Friday, November 15th. They issued a “buy” rating and a $230.00 price target on the stock. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $244.63.

CDW Stock Performance

NASDAQ CDW opened at $178.96 on Friday. The business has a 50 day moving average price of $209.49 and a 200 day moving average price of $218.45. 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 company has a market capitalization of $23.85 billion, a P/E ratio of 21.88, a PEG ratio of 4.97 and a beta of 1.05. CDW Co. has a 1-year low of $172.95 and a 1-year high of $263.37.

CDW (NASDAQ:CDW) last released 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). CDW had a return on equity of 58.31% and a net margin of 5.33%. The business had revenue of $5.52 billion during the quarter, compared to analysts’ expectations of $5.72 billion. During the same quarter in the prior year, the firm earned $2.60 earnings per share. CDW’s quarterly revenue was down 2.0% on a year-over-year basis. Sell-side analysts expect that CDW Co. will post 9.05 EPS for the current fiscal year.

CDW Increases Dividend

The firm 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 represents a $2.50 dividend on an annualized basis and a dividend yield of 1.40%. 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 (DPR) is 30.32%.

CDW 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.