CDW Co. (NASDAQ:CDW) Stock Holdings Increased by Kovitz Investment Group Partners LLC

Kovitz Investment Group Partners LLC grew its position in CDW Co. (NASDAQ:CDW) by 18.5% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 51,037 shares of the information technology services provider’s stock after acquiring an additional 7,960 shares during the quarter. Kovitz Investment Group Partners LLC’s holdings in CDW were worth $11,127,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the company. PDS Planning Inc lifted its holdings in shares of CDW by 4.3% in the 3rd quarter. PDS Planning Inc now owns 1,186 shares of the information technology services provider’s stock worth $268,000 after purchasing an additional 49 shares during the last quarter. Oregon Public Employees Retirement Fund raised its stake 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 valued at $2,583,000 after purchasing an additional 54 shares in the last quarter. Profund Advisors LLC lifted its holdings in CDW by 0.5% in the second 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 during the period. OneAscent Wealth Management LLC grew its position in CDW by 2.5% in 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 buying an additional 58 shares in the last quarter. Finally, Elo Mutual Pension Insurance Co increased its stake in CDW by 0.5% during the 2nd quarter. Elo Mutual Pension Insurance Co now owns 12,301 shares of the information technology services provider’s stock valued at $2,753,000 after buying an additional 61 shares during the period. 93.15% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

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

CDW Price Performance

CDW opened at $180.06 on Friday. The stock has a fifty day moving average price of $200.31 and a 200 day moving average price of $215.36. 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 1 year low of $172.95 and a 1 year high of $263.37. The stock has a market cap of $23.99 billion, a price-to-earnings ratio of 22.01, a PEG ratio of 5.05 and a beta of 1.02.

CDW (NASDAQ:CDW) last posted its earnings results on Wednesday, October 30th. The information technology services provider reported $2.63 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.68 by ($0.05). CDW had a net margin of 5.33% and a return on equity of 58.31%. The business had revenue of $5.52 billion during the quarter, compared to analyst estimates of $5.72 billion. During the same quarter last year, the firm earned $2.60 earnings per share. CDW’s revenue was down 2.0% compared to the same quarter last year. Analysts forecast that CDW Co. will post 8.99 EPS for the current fiscal year.

CDW Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Monday, November 25th will be given a dividend of $0.625 per share. This is a positive change from CDW’s previous quarterly dividend of $0.62. The ex-dividend date of this dividend is Monday, November 25th. This represents a $2.50 dividend on an annualized basis and a yield of 1.39%. CDW’s payout ratio is currently 30.56%.

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.