Empirical Finance LLC Raises Holdings in CDW Co. (NASDAQ:CDW)

Empirical Finance LLC increased its position in CDW Co. (NASDAQ:CDW) by 2.4% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 4,446 shares of the information technology services provider’s stock after purchasing an additional 104 shares during the period. Empirical Finance LLC’s holdings in CDW were worth $1,006,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in shares of CDW by 4.6% in the first quarter. Vanguard Group Inc. now owns 16,407,542 shares of the information technology services provider’s stock valued at $4,196,721,000 after acquiring an additional 714,393 shares during the period. Dimensional Fund Advisors LP grew its position in CDW by 11.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,292,674 shares of the information technology services provider’s stock worth $289,357,000 after purchasing an additional 128,263 shares during the last quarter. Lazard Asset Management LLC grew its position in CDW by 225.9% during the 1st quarter. Lazard Asset Management LLC now owns 881,586 shares of the information technology services provider’s stock worth $225,491,000 after purchasing an additional 611,054 shares during the last quarter. Bessemer Group Inc. increased its stake in CDW by 1.9% in the first quarter. Bessemer Group Inc. now owns 824,047 shares of the information technology services provider’s stock valued at $210,775,000 after purchasing an additional 15,304 shares during the period. Finally, Boston Partners raised its holdings in shares of 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 buying an additional 15,178 shares during the last quarter. 93.15% of the stock is owned by institutional investors and hedge funds.

CDW Stock Down 1.7 %

CDW opened at $177.63 on Friday. The company has a debt-to-equity ratio of 2.39, a current ratio of 1.40 and a quick ratio of 1.28. CDW Co. has a 12 month low of $175.94 and a 12 month high of $263.37. The stock has a market capitalization of $23.67 billion, a P/E ratio of 21.72, a P/E/G ratio of 5.19 and a beta of 1.05. The business has a 50 day simple moving average of $213.49 and a 200-day simple moving average of $219.90.

CDW (NASDAQ:CDW) last released its earnings results on Wednesday, October 30th. The information technology services provider reported $2.63 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 period last year, the business posted $2.60 EPS. CDW’s revenue was down 2.0% compared to the same quarter last year. On average, equities analysts anticipate that CDW Co. will post 9.05 earnings per share for the current fiscal year.

CDW Increases Dividend

The business also recently disclosed 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. 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 1.41%. This is an increase from CDW’s previous quarterly dividend of $0.62. CDW’s payout ratio is currently 30.56%.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. 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. JPMorgan Chase & Co. lowered CDW from an “overweight” rating to a “neutral” rating and dropped their target price for the company from $260.00 to $235.00 in a report on Monday, October 28th. Redburn Atlantic started coverage on CDW in a research note on Friday. They set a “buy” rating and a $230.00 price target for the company. Finally, Citigroup lowered shares of CDW from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $250.00 to $245.00 in a research report on Tuesday, October 1st. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $244.63.

CDW Company 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.