UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Reduces Stock Holdings in CDW Co. (NASDAQ:CDW)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC trimmed its position in shares of CDW Co. (NASDAQ:CDW) by 6.7% in the 3rd quarter, Holdings Channel.com reports. The firm owned 813,480 shares of the information technology services provider’s stock after selling 58,739 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in CDW were worth $184,091,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also bought and sold shares of the company. Massachusetts Financial Services Co. MA bought a new stake in shares of CDW in the third quarter valued at approximately $416,111,000. Perpetual Ltd bought a new stake in CDW during the 3rd quarter valued at $158,300,000. Ceredex Value Advisors LLC purchased a new stake in shares of CDW during the second quarter worth $79,549,000. Canada Pension Plan Investment Board boosted its holdings in shares of CDW by 2,045.4% in the second quarter. Canada Pension Plan Investment Board now owns 294,302 shares of the information technology services provider’s stock worth $65,877,000 after acquiring an additional 280,584 shares during the period. Finally, Assenagon Asset Management S.A. grew its position in shares of CDW by 2,164.6% in the second quarter. Assenagon Asset Management S.A. now owns 140,040 shares of the information technology services provider’s stock valued at $31,347,000 after purchasing an additional 133,856 shares in the last quarter. 93.15% of the stock is owned by hedge funds and other institutional investors.

CDW Price Performance

CDW stock opened at $175.93 on Friday. The firm has a 50 day simple moving average of $204.87 and a two-hundred day simple moving average of $216.92. The stock has a market cap of $23.45 billion, a PE ratio of 21.51, a P/E/G ratio of 4.97 and a beta of 1.05. CDW Co. has a one year low of $172.95 and a one year high of $263.37. 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 (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 firm had revenue of $5.52 billion during the quarter, compared to the consensus estimate of $5.72 billion. During the same period in the prior year, the company earned $2.60 EPS. The firm’s revenue was down 2.0% compared to the same quarter last year. On average, analysts predict that CDW Co. will post 8.99 EPS for the current fiscal year.

CDW Increases Dividend

The company 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. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.42%. This is a boost from CDW’s previous quarterly dividend of $0.62. The ex-dividend date is Monday, November 25th. CDW’s dividend payout ratio (DPR) is currently 30.56%.

Wall Street Analyst Weigh In

CDW has been the subject of several analyst reports. Redburn Atlantic started coverage on CDW in a research note on Friday, November 15th. They issued a “buy” rating and a $230.00 target price for the company. JPMorgan Chase & Co. lowered shares of CDW from an “overweight” rating to a “neutral” rating and cut their price objective for the company from $260.00 to $235.00 in a research report on Monday, October 28th. Citigroup lowered shares of CDW from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $250.00 to $245.00 in a report on Tuesday, October 1st. Finally, Barclays cut their price target on shares of CDW from $229.00 to $201.00 and set an “equal weight” rating for the company in a report on Thursday, October 31st. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average 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.