Thrivent Financial for Lutherans Raises Holdings in CDW Co. (NASDAQ:CDW)

Thrivent Financial for Lutherans lifted its position in shares of CDW Co. (NASDAQ:CDW) by 12.8% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 599,900 shares of the information technology services provider’s stock after acquiring an additional 68,023 shares during the quarter. Thrivent Financial for Lutherans owned approximately 0.45% of CDW worth $135,758,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the company. Acadian Asset Management LLC increased its stake in shares of CDW by 211.5% in the first quarter. Acadian Asset Management LLC now owns 44,205 shares of the information technology services provider’s stock worth $11,302,000 after purchasing an additional 30,012 shares in the last quarter. Peak Financial Advisors LLC bought a new position in CDW in the 2nd quarter worth approximately $2,854,000. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund purchased a new position in CDW in the 3rd quarter valued at approximately $12,761,000. Virtu Financial LLC raised its holdings in CDW by 175.9% during the 1st quarter. Virtu Financial LLC now owns 7,115 shares of the information technology services provider’s stock valued at $1,820,000 after acquiring an additional 4,536 shares during the period. Finally, Ontario Teachers Pension Plan Board lifted its position in shares of CDW by 71.4% during the first quarter. Ontario Teachers Pension Plan Board now owns 8,075 shares of the information technology services provider’s stock worth $2,065,000 after acquiring an additional 3,365 shares in the last quarter. Hedge funds and other institutional investors own 93.15% of the company’s stock.

CDW Stock Down 1.7 %

CDW opened at $177.63 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 business’s fifty day simple moving average is $213.49 and its 200 day simple moving average is $219.90. CDW Co. has a 52 week low of $175.94 and a 52 week high of $263.37. The stock has a market cap of $23.67 billion, a PE ratio of 21.72, a P/E/G ratio of 4.96 and a beta of 1.05.

CDW (NASDAQ:CDW) last announced 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 firm had revenue of $5.52 billion for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter last year, the company posted $2.60 earnings per share. As a group, research analysts expect that CDW Co. will post 9.05 earnings per share for the current fiscal year.

CDW Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Monday, November 25th will be issued a $0.625 dividend. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.41%. This is a positive change from CDW’s previous quarterly dividend of $0.62. The ex-dividend date is Monday, November 25th. CDW’s payout ratio is presently 30.32%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on CDW shares. Barclays reduced their price target on CDW from $229.00 to $201.00 and set an “equal weight” rating for the company in a research report on Thursday, October 31st. Citigroup lowered CDW from a “buy” rating to a “neutral” rating and reduced their target price for the company from $250.00 to $245.00 in a report on Tuesday, October 1st. JPMorgan Chase & Co. downgraded shares of CDW from an “overweight” rating to a “neutral” rating and lowered their price target for the stock from $260.00 to $235.00 in a report on Monday, October 28th. Finally, Redburn Atlantic began coverage on shares of CDW in a research note on Friday. They set a “buy” rating and a $230.00 price objective for the company. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, CDW currently has a consensus rating of “Moderate Buy” and a consensus target price 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.