Cerity Partners LLC Grows Stake in CDW Co. (NASDAQ:CDW)

Cerity Partners LLC boosted its position in shares of CDW Co. (NASDAQ:CDW) by 18.9% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 39,301 shares of the information technology services provider’s stock after purchasing an additional 6,235 shares during the quarter. Cerity Partners LLC’s holdings in CDW were worth $8,894,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. RDA Financial Network boosted its position in shares of CDW by 3.0% in the 2nd quarter. RDA Financial Network now owns 1,587 shares of the information technology services provider’s stock worth $355,000 after buying an additional 46 shares in the last quarter. PDS Planning Inc lifted its holdings in shares of CDW by 4.3% in the third quarter. PDS Planning Inc now owns 1,186 shares of the information technology services provider’s stock valued at $268,000 after purchasing an additional 49 shares in the last quarter. Oregon Public Employees Retirement Fund grew its position in shares of CDW by 0.5% in the second quarter. Oregon Public Employees Retirement Fund now owns 11,541 shares of the information technology services provider’s stock valued at $2,583,000 after purchasing an additional 54 shares during the last quarter. Profund Advisors LLC increased its stake in shares of CDW by 0.5% during the 2nd quarter. Profund Advisors LLC now owns 12,469 shares of the information technology services provider’s stock worth $2,791,000 after purchasing an additional 58 shares in the last quarter. Finally, OneAscent Wealth Management LLC raised its position in shares of CDW by 2.5% during the 3rd quarter. OneAscent Wealth Management LLC now owns 2,387 shares of the information technology services provider’s stock worth $540,000 after purchasing an additional 58 shares during the last quarter. Institutional investors and hedge funds own 93.15% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Redburn Atlantic assumed coverage on CDW in a report on Friday, November 15th. They set a “buy” rating and a $230.00 target price on the stock. JPMorgan Chase & Co. lowered CDW from an “overweight” rating to a “neutral” rating and decreased their price objective for the company from $260.00 to $235.00 in a research note on Monday, October 28th. Barclays cut their target price 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. Finally, Citigroup cut shares of CDW from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $250.00 to $245.00 in a research note on Tuesday, October 1st. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, CDW has a consensus rating of “Moderate Buy” and an average price target of $244.63.

CDW Stock Performance

CDW stock opened at $177.80 on Wednesday. The stock has a fifty day moving average price of $208.69 and a 200 day moving average price of $218.12. 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 52 week low of $172.95 and a 52 week high of $263.37. The firm has a market capitalization of $23.69 billion, a P/E ratio of 21.74, a PEG ratio of 5.03 and a beta of 1.05.

CDW (NASDAQ:CDW) last announced 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). CDW had a return on equity of 58.31% and a net margin of 5.33%. The company had revenue of $5.52 billion for the quarter, compared to analysts’ expectations of $5.72 billion. During the same quarter in the previous year, the company earned $2.60 earnings per share. The company’s revenue was down 2.0% on a year-over-year basis. Equities research analysts anticipate that CDW Co. will post 8.99 earnings per share for the current year.

CDW Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Monday, November 25th will be issued a $0.625 dividend. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.41%. The ex-dividend date is Monday, November 25th. This is a positive change from CDW’s previous quarterly dividend of $0.62. CDW’s dividend payout ratio (DPR) is 30.56%.

CDW Company 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.