WCM Investment Management LLC Buys 61 Shares of CDW Co. (NASDAQ:CDW)

WCM Investment Management LLC boosted its stake in shares of CDW Co. (NASDAQ:CDW) by 4.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,380 shares of the information technology services provider’s stock after purchasing an additional 61 shares during the quarter. WCM Investment Management LLC’s holdings in CDW were worth $313,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CDW. Vanguard Group Inc. lifted its holdings in shares of CDW by 4.6% during the 1st 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 purchasing an additional 714,393 shares during the last quarter. Perpetual Ltd purchased a new stake in CDW in the third quarter valued at about $158,300,000. Lazard Asset Management LLC boosted its holdings in CDW by 225.9% in the first quarter. Lazard Asset Management LLC now owns 881,586 shares of the information technology services provider’s stock worth $225,491,000 after acquiring an additional 611,054 shares in the last quarter. Ceredex Value Advisors LLC acquired a new stake in CDW in the second quarter worth about $79,549,000. Finally, Canada Pension Plan Investment Board grew its stake in shares of CDW by 2,045.4% during 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 last quarter. Hedge funds and other institutional investors own 93.15% of the company’s stock.

CDW Stock Down 3.0 %

Shares of CDW opened at $191.91 on Wednesday. The company has a market capitalization of $25.57 billion, a price-to-earnings ratio of 23.46, a PEG ratio of 5.58 and a beta of 1.05. CDW Co. has a 52 week low of $187.73 and a 52 week high of $263.37. The stock’s 50-day moving average price is $215.43 and its 200-day moving average price is $221.05. The company has a quick ratio of 1.28, a current ratio of 1.40 and a debt-to-equity ratio of 2.39.

CDW (NASDAQ:CDW) last released its quarterly earnings data on Wednesday, October 30th. The information technology services provider reported $2.63 EPS for the quarter, missing the consensus estimate of $2.68 by ($0.05). The company had revenue of $5.52 billion during the quarter, compared to analysts’ expectations of $5.72 billion. CDW had a return on equity of 58.31% and a net margin of 5.33%. The company’s revenue for the quarter was down 2.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.60 EPS. On average, sell-side analysts predict that CDW Co. will post 9.05 EPS for the current year.

CDW Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Monday, November 25th will be given a $0.625 dividend. The ex-dividend date is Monday, November 25th. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.30%. This is an increase from CDW’s previous quarterly dividend of $0.62. CDW’s dividend payout ratio is 30.56%.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on CDW shares. JPMorgan Chase & Co. cut shares of CDW from an “overweight” rating to a “neutral” rating and lowered their target price for the stock from $260.00 to $235.00 in a research note on Monday, October 28th. Citigroup lowered shares of CDW from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $250.00 to $245.00 in a report on Tuesday, October 1st. Barclays reduced their target price on CDW from $229.00 to $201.00 and set an “equal weight” rating for the company in a research note on Thursday, October 31st. Finally, Stifel Nicolaus boosted their price target on CDW from $250.00 to $260.00 and gave the company a “buy” rating in a research note on Wednesday, July 17th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $246.71.

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.