Mutual of America Capital Management LLC Lowers Stock Position in CDW Co. (NASDAQ:CDW)

Mutual of America Capital Management LLC reduced its position in CDW Co. (NASDAQ:CDW) by 3.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 16,447 shares of the information technology services provider’s stock after selling 500 shares during the quarter. Mutual of America Capital Management LLC’s holdings in CDW were worth $3,722,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP grew its stake in CDW by 11.0% during the second quarter. Dimensional Fund Advisors LP now owns 1,292,674 shares of the information technology services provider’s stock worth $289,357,000 after buying an additional 128,263 shares during the period. Lazard Asset Management LLC increased its holdings in CDW by 225.9% in the 1st 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 in the last quarter. Boston Partners raised its position 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 purchasing an additional 15,178 shares during the period. Perpetual Ltd acquired a new position in shares of CDW during the third quarter worth about $158,300,000. Finally, Price T Rowe Associates Inc. MD boosted its position in shares of CDW by 46.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 620,190 shares of the information technology services provider’s stock worth $158,634,000 after buying an additional 195,951 shares during the period. Institutional investors and hedge funds own 93.15% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on CDW shares. Citigroup downgraded CDW from a “buy” rating to a “neutral” rating and dropped their target price for the company from $250.00 to $245.00 in a report on Tuesday, October 1st. Barclays dropped their price target on shares of CDW from $229.00 to $201.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 31st. JPMorgan Chase & Co. downgraded CDW from an “overweight” rating to a “neutral” rating and lowered their target price for the company from $260.00 to $235.00 in a research note on Monday, October 28th. Finally, Redburn Atlantic began coverage on CDW in a research note on Friday, November 15th. They issued a “buy” rating and a $230.00 price target on the stock. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $244.63.

CDW Stock Performance

Shares of CDW stock opened at $177.91 on Friday. The company’s 50-day simple moving average is $211.13 and its 200-day simple moving average is $219.03. CDW Co. has a one year low of $172.95 and a one year high of $263.37. The stock has a market capitalization of $23.71 billion, a price-to-earnings ratio of 21.75, a PEG ratio of 4.86 and a beta of 1.05. The company has a debt-to-equity ratio of 2.39, a quick ratio of 1.28 and a current ratio of 1.40.

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). The firm had revenue of $5.52 billion for 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 revenue was down 2.0% on a year-over-year basis. During the same period in the prior year, the company posted $2.60 earnings per share. Equities analysts anticipate that CDW Co. will post 9.05 earnings per share for the current fiscal year.

CDW Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Monday, November 25th will be given a $0.625 dividend. This is an increase from CDW’s previous quarterly dividend of $0.62. 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. CDW’s dividend payout ratio (DPR) is presently 30.32%.

About CDW

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.