Fiduciary Trust Co Purchases 2,027 Shares of CDW Co. (NASDAQ:CDW)

Fiduciary Trust Co grew its holdings in CDW Co. (NASDAQ:CDW) by 109.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,874 shares of the information technology services provider’s stock after purchasing an additional 2,027 shares during the quarter. Fiduciary Trust Co’s holdings in CDW were worth $877,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA bought a new stake in CDW in the third quarter valued at $416,111,000. Dimensional Fund Advisors LP grew its stake in shares of CDW by 11.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,292,674 shares of the information technology services provider’s stock valued at $289,357,000 after buying an additional 128,263 shares during the period. Charles Schwab Investment Management Inc. increased its position in CDW by 1.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 775,240 shares of the information technology services provider’s stock valued at $175,437,000 after buying an additional 7,764 shares in the last quarter. Perpetual Ltd acquired a new position in CDW during the 3rd quarter worth approximately $158,300,000. Finally, PNC Financial Services Group Inc. raised its stake in CDW by 2.3% during the 3rd quarter. PNC Financial Services Group Inc. now owns 696,733 shares of the information technology services provider’s stock worth $157,671,000 after buying an additional 15,527 shares during the period. Institutional investors and hedge funds own 93.15% of the company’s stock.

Wall Street Analysts Forecast Growth

CDW has been the subject of several recent research reports. JPMorgan Chase & Co. downgraded CDW from an “overweight” rating to a “neutral” rating and decreased their price objective for the company from $260.00 to $235.00 in a report on Monday, October 28th. Redburn Atlantic started coverage on shares of CDW in a research note on Friday, November 15th. They set a “buy” rating and a $230.00 price target for the company. Barclays dropped their price objective on shares of CDW from $229.00 to $201.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 31st. Finally, Citigroup downgraded shares of CDW from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $250.00 to $245.00 in a research report on Tuesday, October 1st. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $244.63.

CDW Stock Down 0.5 %

CDW stock opened at $175.93 on Friday. CDW Co. has a fifty-two week low of $172.95 and a fifty-two week high of $263.37. The company has a debt-to-equity ratio of 2.39, a quick ratio of 1.28 and a current ratio of 1.40. The firm’s 50-day simple moving average is $205.86 and its 200 day simple moving average is $217.24. The stock has a market cap of $23.45 billion, a PE ratio of 21.51, a price-to-earnings-growth ratio of 4.97 and a beta of 1.05.

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

CDW Increases Dividend

The firm also recently announced 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 1.42%. This is a boost from CDW’s previous quarterly dividend of $0.62. The ex-dividend date is Monday, November 25th. CDW’s payout ratio is presently 30.56%.

CDW Company 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.