Benin Management CORP Boosts Stock Holdings in CDW Co. (NASDAQ:CDW)

Benin Management CORP increased its stake in CDW Co. (NASDAQ:CDW) by 31.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,168 shares of the information technology services provider’s stock after acquiring an additional 767 shares during the period. Benin Management CORP’s holdings in CDW were worth $551,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Massachusetts Financial Services Co. MA purchased a new position in CDW in the third quarter valued at $416,111,000. Janus Henderson Group PLC increased its holdings in shares of CDW by 7,029.1% in the 3rd quarter. Janus Henderson Group PLC now owns 1,466,597 shares of the information technology services provider’s stock valued at $331,891,000 after acquiring an additional 1,446,025 shares during the last quarter. Holocene Advisors LP acquired a new stake in shares of CDW during the 3rd quarter worth about $172,217,000. Perpetual Ltd purchased a new stake in CDW during the third quarter worth approximately $158,300,000. Finally, Assenagon Asset Management S.A. boosted its holdings in CDW by 7,549.9% in the fourth quarter. Assenagon Asset Management S.A. now owns 256,271 shares of the information technology services provider’s stock valued at $44,601,000 after purchasing an additional 252,921 shares in the last quarter. 93.15% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Citigroup downgraded shares of CDW from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $250.00 to $245.00 in a research report on Tuesday, October 1st. JPMorgan Chase & Co. downgraded shares of 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 research note on Monday, October 28th. Morgan Stanley lifted their target price on CDW from $190.00 to $193.00 and gave the stock an “equal weight” rating in a research report on Monday, December 16th. Barclays decreased their target price on CDW from $229.00 to $201.00 and set an “equal weight” rating for the company in a research report on Thursday, October 31st. Finally, UBS Group cut their price target on CDW from $233.00 to $220.00 and set a “buy” rating on the stock in a research report on Tuesday, January 7th. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $239.33.

CDW Stock Down 1.2 %

Shares of NASDAQ:CDW opened at $195.13 on Friday. The company has a market cap of $26.00 billion, a price-to-earnings ratio of 23.85, a PEG ratio of 5.26 and a beta of 1.01. CDW Co. has a fifty-two week low of $168.43 and a fifty-two week high of $263.37. The firm’s 50-day simple moving average is $179.79 and its 200-day simple moving average is $204.53. The company has a quick ratio of 1.28, a current ratio of 1.40 and a debt-to-equity ratio of 2.39.

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). CDW had a return on equity of 58.31% and a net margin of 5.33%. The business had revenue of $5.52 billion for the quarter, compared to analyst estimates 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% on a year-over-year basis. As a group, equities research analysts predict that CDW Co. will post 8.99 earnings per share for the current year.

CDW Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Monday, November 25th were issued a dividend of $0.625 per share. The ex-dividend date was Monday, November 25th. This is an increase from CDW’s previous quarterly dividend of $0.62. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.28%. CDW’s payout ratio 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.