CDW Co. (NASDAQ:CDW) Shares Sold by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company lessened its position in shares of CDW Co. (NASDAQ:CDW) by 88.6% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 80,226 shares of the information technology services provider’s stock after selling 622,520 shares during the quarter. The Manufacturers Life Insurance Company owned about 0.06% of CDW worth $18,155,000 at the end of the most recent reporting period.

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

CDW Stock Performance

NASDAQ CDW opened at $175.93 on Monday. CDW Co. has a twelve month low of $172.95 and a twelve month high of $263.37. The business’s 50-day moving average price is $204.87 and its 200 day moving average price is $216.89. The company has a current ratio of 1.40, a quick ratio of 1.28 and a debt-to-equity ratio of 2.39. The company has a market capitalization of $23.44 billion, a PE ratio of 21.51, a price-to-earnings-growth ratio of 4.94 and a beta of 1.05.

CDW (NASDAQ:CDW) last announced its quarterly earnings results on Wednesday, October 30th. The information technology services provider reported $2.63 EPS for the quarter, missing the consensus estimate of $2.68 by ($0.05). The firm had revenue of $5.52 billion for the quarter, compared to analyst estimates of $5.72 billion. CDW had a return on equity of 58.31% and a net margin of 5.33%. The business’s revenue was down 2.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.60 earnings per share. On average, research analysts predict 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. Investors of record on Monday, November 25th will be issued a dividend of $0.625 per share. This is an increase from CDW’s previous quarterly dividend of $0.62. This represents a $2.50 annualized dividend and a dividend yield of 1.42%. The ex-dividend date of this dividend is Monday, November 25th. CDW’s dividend payout ratio (DPR) is presently 30.56%.

Wall Street Analyst Weigh In

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