MetLife Investment Management LLC Has $8.56 Million Stock Holdings in CDW Co. (NASDAQ:CDW)

MetLife Investment Management LLC lowered its holdings in CDW Co. (NASDAQ:CDW) by 3.0% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 37,822 shares of the information technology services provider’s stock after selling 1,157 shares during the quarter. MetLife Investment Management LLC’s holdings in CDW were worth $8,559,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. ORG Partners LLC acquired a new stake in CDW during the second quarter worth about $34,000. Quest Partners LLC bought a new stake in shares of CDW during the second quarter valued at approximately $35,000. Canoe Financial LP acquired a new position in shares of CDW in the third quarter valued at $37,000. Fortitude Family Office LLC lifted its position in CDW by 350.0% in the third quarter. Fortitude Family Office LLC now owns 171 shares of the information technology services provider’s stock worth $39,000 after purchasing an additional 133 shares during the period. Finally, Summit Securities Group LLC acquired a new stake in CDW during the second quarter worth $40,000. Institutional investors and hedge funds own 93.15% of the company’s stock.

Wall Street Analyst Weigh In

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

CDW Price Performance

CDW stock opened at $176.75 on Friday. CDW Co. has a 52 week low of $172.95 and a 52 week high of $263.37. The firm has a market cap of $23.55 billion, a P/E ratio of 21.61, a P/E/G ratio of 5.10 and a beta of 1.05. The company has a debt-to-equity ratio of 2.39, a quick ratio of 1.28 and a current ratio of 1.40. The business’s fifty day moving average is $206.88 and its two-hundred day moving average is $217.52.

CDW (NASDAQ:CDW) last issued its quarterly earnings data 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 return on equity of 58.31% and a net margin of 5.33%. The company had revenue of $5.52 billion for 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. Equities research analysts forecast that CDW Co. will post 8.99 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 given a $0.625 dividend. This represents a $2.50 annualized dividend and a yield of 1.41%. The ex-dividend date of this dividend is Monday, November 25th. This is a boost from CDW’s previous quarterly dividend of $0.62. CDW’s payout ratio is 30.56%.

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.