Fmr LLC Has $778.77 Million Position in CDW Co. (NASDAQ:CDW)

Fmr LLC reduced its position in shares of CDW Co. (NASDAQ:CDW) by 17.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,441,319 shares of the information technology services provider’s stock after selling 741,709 shares during the period. Fmr LLC owned about 2.58% of CDW worth $778,770,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the company. ORG Partners LLC bought a new stake in CDW during the second quarter worth about $34,000. Quest Partners LLC bought a new stake in CDW during the second quarter worth about $35,000. Canoe Financial LP bought a new stake in CDW during the third quarter worth about $37,000. Fortitude Family Office LLC raised its holdings in CDW by 350.0% during the third quarter. Fortitude Family Office LLC now owns 171 shares of the information technology services provider’s stock worth $39,000 after acquiring an additional 133 shares in the last quarter. Finally, Summit Securities Group LLC bought a new stake in CDW during the second quarter worth about $40,000. 93.15% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Redburn Atlantic initiated coverage on CDW in a report on Friday, November 15th. They set a “buy” rating and a $230.00 target price on the stock. Citigroup lowered CDW from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $250.00 to $245.00 in a research note on Tuesday, October 1st. JPMorgan Chase & Co. lowered 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 note on Monday, October 28th. Finally, Barclays dropped their price objective on CDW from $229.00 to $201.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 31st. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $244.63.

CDW Price Performance

Shares of NASDAQ CDW opened at $176.75 on Thursday. The firm has a market cap of $23.55 billion, a P/E ratio of 21.61, a price-to-earnings-growth ratio of 5.10 and a beta of 1.05. 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 Co. has a 1-year low of $172.95 and a 1-year high of $263.37. The business’s 50 day moving average is $207.78 and its 200-day moving average is $217.81.

CDW (NASDAQ:CDW) last announced its earnings results on Wednesday, October 30th. The information technology services provider reported $2.63 earnings per share for the quarter, missing analysts’ consensus estimates of $2.68 by ($0.05). The firm had revenue of $5.52 billion for the quarter, compared to the consensus estimate of $5.72 billion. CDW had a return on equity of 58.31% and a net margin of 5.33%. CDW’s revenue for the quarter was down 2.0% on a year-over-year basis. During the same quarter last year, the business posted $2.60 EPS. Equities research analysts predict that CDW Co. will post 8.99 earnings per share for the current year.

CDW Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Monday, November 25th will be given a dividend of $0.625 per share. The ex-dividend date of this dividend is Monday, November 25th. This represents a $2.50 dividend on an annualized basis and a yield of 1.41%. This is an increase from CDW’s previous quarterly dividend of $0.62. CDW’s dividend payout ratio is currently 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.