Victory Capital Management Inc. Trims Position in CDW Co. (NASDAQ:CDW)

Victory Capital Management Inc. trimmed its position in CDW Co. (NASDAQ:CDW) by 16.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 149,610 shares of the information technology services provider’s stock after selling 28,699 shares during the quarter. Victory Capital Management Inc.’s holdings in CDW were worth $33,857,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of CDW. Orion Portfolio Solutions LLC grew its position in 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 worth $1,582,000 after buying an additional 377 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of CDW by 4.6% during the first 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 in the last quarter. Acadian Asset Management LLC raised its stake in CDW by 211.5% in the first 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 in the last quarter. Ontario Teachers Pension Plan Board lifted its position in CDW by 71.4% during the first 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 during the last quarter. Finally, O Shaughnessy Asset Management LLC lifted its position in CDW by 6.6% during the first quarter. O Shaughnessy Asset Management LLC now owns 23,923 shares of the information technology services provider’s stock valued at $6,119,000 after purchasing an additional 1,490 shares during the last quarter. 93.15% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

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

CDW Trading Down 1.7 %

NASDAQ CDW opened at $177.63 on Friday. The firm has a market cap of $23.67 billion, a PE ratio of 21.72, a price-to-earnings-growth ratio of 5.19 and a beta of 1.05. CDW Co. has a 1-year low of $175.94 and a 1-year high of $263.37. The stock has a 50-day moving average of $213.49 and a 200-day moving average of $219.90. The company has a current ratio of 1.40, a quick ratio of 1.28 and a debt-to-equity ratio of 2.39.

CDW (NASDAQ:CDW) last announced its quarterly earnings data on Wednesday, October 30th. The information technology services provider reported $2.63 earnings per share 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 company had revenue of $5.52 billion during the quarter, compared to the consensus estimate of $5.72 billion. During the same quarter in the previous year, the firm posted $2.60 EPS. The business’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 year.

CDW Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Monday, November 25th will be issued a $0.625 dividend. This represents a $2.50 dividend on an annualized basis and a yield of 1.41%. The ex-dividend date is Monday, November 25th. This is a positive change from CDW’s previous quarterly dividend of $0.62. CDW’s dividend payout ratio (DPR) is 30.56%.

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.