Catalyst Capital Advisors LLC Raises Stock Position in CDW Co. (NASDAQ:CDW)

Catalyst Capital Advisors LLC grew its holdings in shares of CDW Co. (NASDAQ:CDW) by 229.3% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 438 shares of the information technology services provider’s stock after purchasing an additional 305 shares during the period. Catalyst Capital Advisors LLC’s holdings in CDW were worth $99,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of CDW. Vanguard Group Inc. increased its stake 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 buying an additional 714,393 shares during the period. Perpetual Ltd purchased a new stake in shares of CDW during the third quarter worth approximately $158,300,000. Lazard Asset Management LLC increased its stake in shares of CDW by 225.9% during the first quarter. Lazard Asset Management LLC now owns 881,586 shares of the information technology services provider’s stock worth $225,491,000 after buying an additional 611,054 shares during the period. Ceredex Value Advisors LLC purchased a new stake in shares of CDW during the second quarter worth approximately $79,549,000. Finally, Canada Pension Plan Investment Board increased its stake in shares of CDW by 2,045.4% during the second quarter. Canada Pension Plan Investment Board now owns 294,302 shares of the information technology services provider’s stock worth $65,877,000 after buying an additional 280,584 shares during the period. 93.15% of the stock is currently owned by hedge funds and other institutional investors.

CDW Stock Up 5.1 %

Shares of NASDAQ:CDW opened at $202.79 on Thursday. The stock’s 50-day moving average price is $217.42 and its two-hundred day moving average price is $222.39. 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 12-month low of $187.73 and a 12-month high of $263.37. The firm has a market cap of $27.02 billion, a price-to-earnings ratio of 24.79, a PEG ratio of 5.07 and a beta of 1.05.

CDW (NASDAQ:CDW) last released 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). The firm had revenue of $5.52 billion during the quarter, compared to analyst estimates of $5.72 billion. CDW had a net margin of 5.33% and a return on equity of 58.31%. The business’s revenue for the quarter was down 2.0% on a year-over-year basis. During the same period in the prior year, the firm earned $2.60 earnings per share. On average, research analysts forecast that CDW Co. will post 9.38 EPS for the current year.

CDW Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Monday, November 25th will be issued a dividend of $0.625 per share. The ex-dividend date of this dividend is Monday, November 25th. This is an increase from CDW’s previous quarterly dividend of $0.62. This represents a $2.50 annualized dividend and a yield of 1.23%. CDW’s payout ratio is currently 30.32%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on CDW shares. Stifel Nicolaus upped their target price on shares of CDW from $250.00 to $260.00 and gave the stock a “buy” rating in a research note on Wednesday, July 17th. 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 report on Tuesday, October 1st. JPMorgan Chase & Co. downgraded CDW from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $260.00 to $235.00 in a report on Monday, October 28th. Finally, Barclays lowered their price target on CDW from $229.00 to $201.00 and set an “equal weight” rating for the company in a report on Thursday, October 31st. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, CDW currently has a consensus rating of “Hold” and a consensus price target of $246.71.

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.