China Universal Asset Management Co. Ltd. Increases Holdings in CDW Co. (NASDAQ:CDW)

China Universal Asset Management Co. Ltd. increased its position in shares of CDW Co. (NASDAQ:CDW) by 109.7% in the third quarter, HoldingsChannel reports. The firm owned 1,694 shares of the information technology services provider’s stock after acquiring an additional 886 shares during the quarter. China Universal Asset Management Co. Ltd.’s holdings in CDW were worth $383,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of the company. State of Alaska Department of Revenue boosted its holdings in shares of CDW by 0.4% in the 1st quarter. State of Alaska Department of Revenue now owns 14,533 shares of the information technology services provider’s stock valued at $3,717,000 after acquiring an additional 65 shares during the last quarter. Lake Street Private Wealth LLC acquired a new position in CDW during the first quarter valued at $330,000. First Trust Direct Indexing L.P. lifted its position in CDW by 23.5% during the first quarter. First Trust Direct Indexing L.P. now owns 2,291 shares of the information technology services provider’s stock valued at $586,000 after purchasing an additional 436 shares during the period. Maryland State Retirement & Pension System boosted its holdings in CDW by 2.8% in the first quarter. Maryland State Retirement & Pension System now owns 10,606 shares of the information technology services provider’s stock valued at $2,519,000 after purchasing an additional 286 shares during the last quarter. Finally, HB Wealth Management LLC grew its position in CDW by 5.1% during the 1st quarter. HB Wealth Management LLC now owns 1,543 shares of the information technology services provider’s stock worth $395,000 after purchasing an additional 75 shares during the period. Hedge funds and other institutional investors own 93.15% of the company’s stock.

CDW Trading Down 11.3 %

Shares of CDW stock opened at $195.06 on Thursday. The stock has a 50 day simple moving average of $221.46 and a 200-day simple moving average of $224.17. CDW Co. has a 1-year low of $185.04 and a 1-year high of $263.37. The company has a market cap of $26.22 billion, a price-to-earnings ratio of 24.35, a PEG ratio of 3.42 and a beta of 1.03. The company has a debt-to-equity ratio of 2.03, a current ratio of 1.13 and a quick ratio of 1.02.

CDW (NASDAQ:CDW) last posted its quarterly earnings data on Wednesday, July 31st. The information technology services provider reported $2.34 earnings per share for the quarter, missing analysts’ consensus estimates of $2.39 by ($0.05). CDW had a return on equity of 62.22% and a net margin of 5.29%. The company had revenue of $5.42 billion for the quarter, compared to analyst estimates of $5.43 billion. During the same quarter in the prior year, the company posted $2.43 earnings per share. The business’s revenue was down 3.6% on a year-over-year basis. On average, equities research analysts expect that CDW Co. will post 9.4 EPS for the current fiscal year.

CDW Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Monday, November 25th will be paid a $0.625 dividend. This is a positive change from CDW’s previous quarterly dividend of $0.62. This represents a $2.50 dividend on an annualized basis and a yield of 1.28%. CDW’s dividend payout ratio (DPR) is currently 30.96%.

Analyst Ratings Changes

A number of analysts have recently commented on CDW shares. Stifel Nicolaus upped their target price on CDW from $250.00 to $260.00 and gave the stock a “buy” rating in a research note on Wednesday, July 17th. Barclays lowered their price objective on CDW from $232.00 to $229.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 1st. JPMorgan Chase & Co. lowered shares of CDW from an “overweight” rating to a “neutral” rating and cut their target price for the company from $260.00 to $235.00 in a report on Monday. Finally, Citigroup downgraded shares of CDW from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $250.00 to $245.00 in a report on Tuesday, October 1st. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, CDW has an average rating of “Hold” and a consensus target price of $250.71.

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.