CDW Co. (NASDAQ:CDW) is Jacobson & Schmitt Advisors LLC’s 9th Largest Position

Jacobson & Schmitt Advisors LLC raised its position in shares of CDW Co. (NASDAQ:CDW) by 3.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 67,571 shares of the information technology services provider’s stock after buying an additional 2,297 shares during the quarter. CDW comprises approximately 3.1% of Jacobson & Schmitt Advisors LLC’s portfolio, making the stock its 9th biggest position. Jacobson & Schmitt Advisors LLC’s holdings in CDW were worth $15,291,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in CDW. Vanguard Group Inc. raised its position in shares of CDW by 4.6% in the 1st quarter. Vanguard Group Inc. now owns 16,407,542 shares of the information technology services provider’s stock worth $4,196,721,000 after purchasing an additional 714,393 shares during the last quarter. Perpetual Ltd purchased a new position in shares of CDW in the 3rd quarter worth about $158,300,000. Lazard Asset Management LLC raised its position in shares of CDW by 225.9% in the 1st quarter. Lazard Asset Management LLC now owns 881,586 shares of the information technology services provider’s stock worth $225,491,000 after purchasing an additional 611,054 shares during the last quarter. Ceredex Value Advisors LLC purchased a new position in shares of CDW in the 2nd quarter worth about $79,549,000. Finally, Canada Pension Plan Investment Board raised its position in shares of CDW by 2,045.4% in the 2nd quarter. Canada Pension Plan Investment Board now owns 294,302 shares of the information technology services provider’s stock worth $65,877,000 after purchasing an additional 280,584 shares during the last quarter. Hedge funds and other institutional investors own 93.15% of the company’s stock.

Wall Street Analyst Weigh In

CDW has been the subject of several recent analyst reports. Stifel Nicolaus lifted their price target on CDW from $250.00 to $260.00 and gave the stock a “buy” rating in a research report on Wednesday, July 17th. Barclays lowered their price target on CDW from $229.00 to $201.00 and set an “equal weight” rating for the company in a research report on Thursday. Citigroup lowered CDW from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $250.00 to $245.00 in a research report on Tuesday, October 1st. Finally, JPMorgan Chase & Co. downgraded CDW from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $260.00 to $235.00 in a report on Monday. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $246.71.

CDW Stock Down 3.5 %

CDW stock opened at $188.23 on Friday. The stock has a market cap of $25.14 billion, a PE ratio of 23.01, a price-to-earnings-growth ratio of 2.96 and a beta of 1.03. The company has a debt-to-equity ratio of 2.39, a quick ratio of 1.02 and a current ratio of 1.40. The stock has a fifty day moving average of $220.86 and a 200 day moving average of $223.97. CDW Co. has a one year low of $185.04 and a one year high of $263.37.

CDW (NASDAQ:CDW) last released its quarterly earnings results on Wednesday, July 31st. The information technology services provider reported $2.34 EPS for the quarter, missing the consensus estimate of $2.39 by ($0.05). The business had revenue of $5.42 billion for the quarter, compared to analysts’ expectations of $5.43 billion. CDW had a net margin of 5.33% and a return on equity of 58.31%. CDW’s revenue for the quarter was down 3.6% compared to the same quarter last year. During the same period in the previous year, the company earned $2.43 EPS. As a group, sell-side analysts predict that CDW Co. will post 9.38 EPS for the current year.

CDW Increases Dividend

The firm 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. The ex-dividend date of this dividend is Monday, November 25th. This is an increase from CDW’s previous quarterly dividend of $0.62. This represents a $2.50 annualized dividend and a yield of 1.33%. CDW’s dividend payout ratio (DPR) is presently 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.