Avanza Fonder AB Acquires New Stake in CDW Co. (NASDAQ:CDW)

Avanza Fonder AB acquired a new position in shares of CDW Co. (NASDAQ:CDW) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 9,896 shares of the information technology services provider’s stock, valued at approximately $1,722,000.

A number of other large investors also recently bought and sold shares of CDW. 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 valued at $268,000 after buying an additional 49 shares during the period. 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 valued at $2,791,000 after acquiring an additional 58 shares during the period. OneAscent Wealth Management LLC grew its stake in shares of CDW by 2.5% during the 3rd quarter. OneAscent Wealth Management LLC now owns 2,387 shares of the information technology services provider’s stock worth $540,000 after purchasing an additional 58 shares during the period. Fulcrum Equity Management increased its holdings in shares of CDW by 4.3% in the 3rd quarter. Fulcrum Equity Management now owns 1,442 shares of the information technology services provider’s stock valued at $326,000 after purchasing an additional 60 shares in the last quarter. Finally, WCM Investment Management LLC lifted its stake in shares of CDW by 4.6% in the third quarter. WCM Investment Management LLC now owns 1,380 shares of the information technology services provider’s stock valued at $313,000 after purchasing an additional 61 shares during the period. Hedge funds and other institutional investors own 93.15% of the company’s stock.

CDW Stock Up 0.5 %

Shares of NASDAQ:CDW opened at $188.70 on Friday. The company has a quick ratio of 1.28, a current ratio of 1.40 and a debt-to-equity ratio of 2.39. The company has a market capitalization of $25.15 billion, a P/E ratio of 23.07, a P/E/G ratio of 4.91 and a beta of 1.01. CDW Co. has a 52-week low of $168.43 and a 52-week high of $263.37. The stock’s fifty day simple moving average is $179.13 and its 200-day simple moving average is $205.27.

CDW (NASDAQ:CDW) last released 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). The firm had revenue of $5.52 billion during the quarter, compared to analysts’ expectations of $5.72 billion. CDW had a net margin of 5.33% and a return on equity of 58.31%. CDW’s revenue for the quarter was down 2.0% on a year-over-year basis. During the same quarter last year, the company posted $2.60 earnings per share. As a group, equities research analysts forecast that CDW Co. will post 8.99 earnings per share for the current fiscal year.

CDW Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Monday, November 25th were given a dividend of $0.625 per share. The ex-dividend date of this dividend was Monday, November 25th. This represents a $2.50 dividend on an annualized basis and a yield of 1.32%. This is a positive change from CDW’s previous quarterly dividend of $0.62. CDW’s dividend payout ratio (DPR) is 30.56%.

Analyst Ratings Changes

CDW has been the topic of several recent analyst reports. Redburn Atlantic started coverage on shares of CDW in a research report on Friday, November 15th. They set a “buy” rating and a $230.00 target price on the stock. Morgan Stanley upped their price target on CDW from $190.00 to $193.00 and gave the stock an “equal weight” rating in a report on Monday, December 16th. Citigroup cut CDW from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $250.00 to $245.00 in a report on Tuesday, October 1st. UBS Group lowered their target price on CDW from $233.00 to $220.00 and set a “buy” rating on the stock in a report on Tuesday, January 7th. Finally, JPMorgan Chase & Co. downgraded CDW from an “overweight” rating to a “neutral” rating and cut their price target for the stock from $260.00 to $235.00 in a research note on Monday, October 28th. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $239.33.

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.