United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund Makes New Investment in CDW Co. (NASDAQ:CDW)

United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund purchased a new stake in CDW Co. (NASDAQ:CDW) during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 56,391 shares of the information technology services provider’s stock, valued at approximately $12,761,000.

Other large investors have also made changes to their positions in the company. Vanguard Group Inc. grew its position in 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 in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of CDW by 11.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,292,674 shares of the information technology services provider’s stock worth $289,357,000 after purchasing an additional 128,263 shares in the last quarter. Lazard Asset Management LLC increased its position 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 valued at $225,491,000 after purchasing an additional 611,054 shares during the period. Bessemer Group Inc. increased its position in shares of CDW by 1.9% during the first quarter. Bessemer Group Inc. now owns 824,047 shares of the information technology services provider’s stock valued at $210,775,000 after purchasing an additional 15,304 shares during the period. Finally, Boston Partners raised its stake in shares of 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 purchasing an additional 15,178 shares in the last quarter. Institutional investors and hedge funds own 93.15% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on CDW. JPMorgan Chase & Co. lowered shares of 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. Citigroup lowered shares of CDW from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $250.00 to $245.00 in a research report on Tuesday, October 1st. Stifel Nicolaus lifted their price objective on CDW from $250.00 to $260.00 and gave the company a “buy” rating in a report on Wednesday, July 17th. Finally, Barclays dropped their target price 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 equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, CDW currently has an average rating of “Hold” and an average target price of $246.71.

CDW Stock Down 3.1 %

NASDAQ CDW opened at $186.01 on Thursday. The stock’s 50 day simple moving average is $214.86 and its 200 day simple moving average is $220.81. 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 one year low of $185.70 and a one year high of $263.37. The firm has a market cap of $24.79 billion, a PE ratio of 22.74, a price-to-earnings-growth ratio of 5.35 and a beta of 1.05.

CDW (NASDAQ:CDW) last announced its earnings results on Wednesday, October 30th. The information technology services provider reported $2.63 earnings per share for the quarter, missing analysts’ consensus estimates of $2.68 by ($0.05). The business 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 quarterly revenue was down 2.0% compared to the same quarter last year. During the same quarter last year, the business posted $2.60 earnings per share. As a group, sell-side analysts forecast that CDW Co. will post 9.05 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 1.34%. This is a positive change 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 30.32%.

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.