Vaughan Nelson Investment Management L.P. Raises Stock Holdings in CDW Co. (NASDAQ:CDW)

Vaughan Nelson Investment Management L.P. lifted its stake in shares of CDW Co. (NASDAQ:CDW) by 20.8% during the third quarter, Holdings Channel reports. The fund owned 184,613 shares of the information technology services provider’s stock after purchasing an additional 31,794 shares during the quarter. Vaughan Nelson Investment Management L.P.’s holdings in CDW were worth $41,778,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CDW. ORG Partners LLC acquired a new stake in shares of CDW during the 2nd quarter worth about $34,000. Quest Partners LLC purchased a new position in shares of CDW during the second quarter valued at approximately $35,000. Canoe Financial LP purchased a new position in shares of CDW during the third quarter valued at approximately $37,000. Fortitude Family Office LLC boosted its position 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 during the last quarter. Finally, Summit Securities Group LLC purchased a new stake in CDW in the 2nd quarter worth approximately $40,000. Hedge funds and other institutional investors own 93.15% of the company’s stock.

CDW Stock Performance

NASDAQ CDW opened at $177.63 on Friday. The business’s 50-day simple moving average is $213.49 and its 200-day simple moving average is $219.90. The firm has a market capitalization of $23.67 billion, a P/E ratio of 21.72, a P/E/G 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 company has a debt-to-equity ratio of 2.39, a current ratio of 1.40 and a quick ratio of 1.28.

CDW (NASDAQ:CDW) last released its quarterly earnings data 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 analysts’ expectations of $5.72 billion. During the same quarter in the prior year, the firm earned $2.60 earnings per share. CDW’s quarterly revenue was down 2.0% compared to the same quarter last year. Equities analysts predict that CDW Co. will post 9.05 EPS for the current year.

CDW Increases Dividend

The business also recently disclosed 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 is Monday, November 25th. This is a positive change from CDW’s previous quarterly dividend of $0.62. This represents a $2.50 annualized dividend and a yield of 1.41%. CDW’s dividend payout ratio (DPR) is 30.56%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on CDW. Redburn Atlantic began coverage on CDW in a research note on Friday. They set a “buy” rating and a $230.00 price target on the stock. JPMorgan Chase & Co. downgraded CDW from an “overweight” rating to a “neutral” rating and reduced their target price for the stock from $260.00 to $235.00 in a research report on Monday, October 28th. Citigroup cut 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 report on Tuesday, October 1st. Finally, Barclays dropped their price objective on shares of CDW from $229.00 to $201.00 and set an “equal weight” rating for the company 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 stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $244.63.

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.