Unison Asset Management LLC Trims Stock Position in CDW Co. (NASDAQ:CDW)

Unison Asset Management LLC cut its stake in CDW Co. (NASDAQ:CDW) by 0.2% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 37,750 shares of the information technology services provider’s stock after selling 58 shares during the period. CDW comprises approximately 4.1% of Unison Asset Management LLC’s portfolio, making the stock its 12th largest position. Unison Asset Management LLC’s holdings in CDW were worth $8,543,000 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. Price T Rowe Associates Inc. MD increased its stake in CDW by 46.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 620,190 shares of the information technology services provider’s stock valued at $158,634,000 after purchasing an additional 195,951 shares during the period. Janus Henderson Group PLC grew its position in CDW by 4.1% during the first quarter. Janus Henderson Group PLC now owns 301,957 shares of the information technology services provider’s stock worth $77,211,000 after buying an additional 11,861 shares during the period. Vancity Investment Management Ltd grew its position in CDW by 35.1% during the first quarter. Vancity Investment Management Ltd now owns 85,766 shares of the information technology services provider’s stock worth $21,937,000 after buying an additional 22,294 shares during the period. California State Teachers Retirement System grew its position in CDW by 0.9% during the first quarter. California State Teachers Retirement System now owns 214,862 shares of the information technology services provider’s stock worth $54,957,000 after buying an additional 1,915 shares during the period. Finally, Tidal Investments LLC grew its position in CDW by 6.7% during the first quarter. Tidal Investments LLC now owns 17,260 shares of the information technology services provider’s stock worth $4,417,000 after buying an additional 1,088 shares during the period. 93.15% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have weighed in on CDW shares. Barclays lowered their target price on shares of CDW from $229.00 to $201.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 31st. Citigroup downgraded shares of CDW from a “buy” rating to a “neutral” rating and reduced their price target for the company from $250.00 to $245.00 in a report on Tuesday, October 1st. JPMorgan Chase & Co. downgraded shares of CDW from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $260.00 to $235.00 in a report on Monday, October 28th. Finally, Redburn Atlantic assumed coverage on shares of CDW in a report on Friday, November 15th. They issued a “buy” rating and a $230.00 price target on the stock. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $244.63.

CDW Stock Performance

Shares of NASDAQ:CDW opened at $178.96 on Monday. The business has a 50-day moving average of $209.49 and a two-hundred day moving average of $218.42. The firm has a market capitalization of $23.85 billion, a PE ratio of 21.88, a P/E/G ratio of 5.03 and a beta of 1.05. 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 Co. has a 12 month low of $172.95 and a 12 month high of $263.37.

CDW (NASDAQ:CDW) last posted its earnings results on Wednesday, October 30th. The information technology services provider reported $2.63 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 period last year, the company posted $2.60 EPS. The firm’s revenue for the quarter was down 2.0% compared to the same quarter last year. As a group, research analysts forecast that CDW Co. will post 8.99 earnings per share for the current year.

CDW Increases Dividend

The business 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 $0.625 dividend. The ex-dividend date of this dividend is Monday, November 25th. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.40%. This is a positive change from CDW’s previous quarterly dividend of $0.62. CDW’s dividend payout ratio (DPR) is 30.32%.

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.