Brooklyn Investment Group Acquires New Shares in CDW Co. (NASDAQ:CDW)

Brooklyn Investment Group bought a new position in shares of CDW Co. (NASDAQ:CDW) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 398 shares of the information technology services provider’s stock, valued at approximately $90,000.

Other institutional investors also recently modified their holdings of the company. Peak Financial Advisors LLC bought a new position in CDW during the second quarter worth about $2,854,000. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund acquired a new position in shares of CDW in the 3rd quarter valued at approximately $12,761,000. Raymond James & Associates increased its stake in CDW by 16.6% during the 2nd quarter. Raymond James & Associates now owns 139,711 shares of the information technology services provider’s stock worth $31,273,000 after purchasing an additional 19,867 shares in the last quarter. Thrivent Financial for Lutherans raised its holdings in CDW by 12.8% during the 3rd quarter. Thrivent Financial for Lutherans now owns 599,900 shares of the information technology services provider’s stock worth $135,758,000 after buying an additional 68,023 shares during the period. Finally, Boston Partners lifted its stake in CDW by 1.9% in the first quarter. Boston Partners now owns 807,590 shares of the information technology services provider’s stock valued at $206,519,000 after buying an additional 15,178 shares in the last quarter. 93.15% of the stock is currently owned by institutional investors and hedge funds.

CDW Stock Down 0.6 %

NASDAQ:CDW opened at $176.75 on Friday. The firm has a market capitalization of $23.55 billion, a price-to-earnings ratio of 21.61, a price-to-earnings-growth ratio of 5.10 and a beta of 1.05. 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 Co. has a twelve month low of $172.95 and a twelve month high of $263.37. The stock’s 50 day moving average price is $206.88 and its two-hundred day moving average price is $217.52.

CDW (NASDAQ:CDW) last posted its quarterly 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 firm had revenue of $5.52 billion for the quarter, compared to the consensus estimate of $5.72 billion. During the same period last year, the company posted $2.60 earnings per share. The business’s revenue was down 2.0% compared to the same quarter last year. Equities research analysts expect that CDW Co. will post 8.99 earnings per share for the current fiscal 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 given a dividend of $0.625 per share. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.41%. This is an increase from CDW’s previous quarterly dividend of $0.62. The ex-dividend date of this dividend is Monday, November 25th. CDW’s dividend payout ratio is presently 30.56%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on CDW shares. Citigroup lowered shares of CDW from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $250.00 to $245.00 in a report on Tuesday, October 1st. Barclays reduced their price objective 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. Redburn Atlantic assumed coverage on CDW in a research report on Friday, November 15th. They issued a “buy” rating and a $230.00 target price on the stock. Finally, JPMorgan Chase & Co. downgraded CDW from an “overweight” rating to a “neutral” rating and reduced their price target for the stock from $260.00 to $235.00 in a research report on Monday, October 28th. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, CDW presently 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.