Empowered Funds LLC Takes $980,000 Position in CDW Co. (NASDAQ:CDW)

Empowered Funds LLC bought a new stake in CDW Co. (NASDAQ:CDWGet Rating) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 6,276 shares of the information technology services provider’s stock, valued at approximately $980,000.

Several other institutional investors have also modified their holdings of the stock. Southeast Asset Advisors Inc. boosted its position in CDW by 0.9% during the third quarter. Southeast Asset Advisors Inc. now owns 36,244 shares of the information technology services provider’s stock worth $5,657,000 after acquiring an additional 318 shares during the last quarter. Transatlantique Private Wealth LLC boosted its position in CDW by 16.3% during the third quarter. Transatlantique Private Wealth LLC now owns 1,869 shares of the information technology services provider’s stock worth $292,000 after acquiring an additional 262 shares during the last quarter. Foyston Gordon & Payne Inc boosted its position in CDW by 165.9% during the third quarter. Foyston Gordon & Payne Inc now owns 22,627 shares of the information technology services provider’s stock worth $3,532,000 after acquiring an additional 14,118 shares during the last quarter. Russell Investments Group Ltd. boosted its position in CDW by 90.0% during the third quarter. Russell Investments Group Ltd. now owns 48,870 shares of the information technology services provider’s stock worth $7,632,000 after acquiring an additional 23,146 shares during the last quarter. Finally, Ieq Capital LLC boosted its position in CDW by 163.9% during the third quarter. Ieq Capital LLC now owns 9,831 shares of the information technology services provider’s stock worth $1,534,000 after acquiring an additional 6,106 shares during the last quarter. Institutional investors and hedge funds own 92.78% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have weighed in on the stock. Citigroup decreased their target price on shares of CDW from $220.00 to $210.00 and set a “buy” rating on the stock in a report on Thursday, November 3rd. Raymond James decreased their target price on shares of CDW from $220.00 to $200.00 and set an “outperform” rating on the stock in a report on Thursday, November 3rd. Credit Suisse Group boosted their target price on shares of CDW from $202.00 to $220.00 and gave the company an “outperform” rating in a report on Wednesday, January 18th. StockNews.com lowered shares of CDW from a “buy” rating to a “hold” rating in a report on Friday, January 20th. Finally, JPMorgan Chase & Co. boosted their target price on shares of CDW from $215.00 to $225.00 and gave the company an “overweight” rating in a report on Tuesday, December 20th. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $213.14.

CDW Price Performance

CDW stock opened at $197.14 on Wednesday. CDW Co. has a 1 year low of $147.91 and a 1 year high of $201.78. The company’s 50 day simple moving average is $186.38 and its 200-day simple moving average is $176.21. The company has a market capitalization of $26.69 billion, a price-to-earnings ratio of 25.91, a price-to-earnings-growth ratio of 1.53 and a beta of 1.14. The company has a debt-to-equity ratio of 4.60, a quick ratio of 1.12 and a current ratio of 1.29.

CDW (NASDAQ:CDWGet Rating) last announced its earnings results on Wednesday, November 2nd. The information technology services provider reported $2.47 earnings per share for the quarter, topping the consensus estimate of $2.42 by $0.05. CDW had a net margin of 4.37% and a return on equity of 121.34%. The firm had revenue of $6.22 billion for the quarter, compared to the consensus estimate of $6.21 billion. As a group, equities research analysts expect that CDW Co. will post 9.27 earnings per share for the current year.

CDW Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 9th. Investors of record on Friday, November 25th were paid a dividend of $0.59 per share. This is an increase from CDW’s previous quarterly dividend of $0.50. This represents a $2.36 annualized dividend and a yield of 1.20%. The ex-dividend date was Wednesday, November 23rd. CDW’s dividend payout ratio is presently 31.01%.

CDW Profile

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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, hybrid, and cloud capabilities across data center and networking, digital workspace, and security.

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Institutional Ownership by Quarter for CDW (NASDAQ:CDW)

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