Ontario Teachers Pension Plan Board Decreases Holdings in CDW Co. (NASDAQ:CDW)

Ontario Teachers Pension Plan Board decreased its position in CDW Co. (NASDAQ:CDW) by 53.4% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 5,034 shares of the information technology services provider’s stock after selling 5,768 shares during the period. Ontario Teachers Pension Plan Board’s holdings in CDW were worth $1,139,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in CDW. RDA Financial Network boosted its holdings in CDW by 3.0% in the second quarter. RDA Financial Network now owns 1,587 shares of the information technology services provider’s stock valued at $355,000 after acquiring an additional 46 shares in the last quarter. PDS Planning Inc boosted its holdings in CDW by 4.3% in the third quarter. PDS Planning Inc now owns 1,186 shares of the information technology services provider’s stock valued at $268,000 after acquiring an additional 49 shares in the last quarter. Oregon Public Employees Retirement Fund boosted its holdings in CDW by 0.5% in the second quarter. Oregon Public Employees Retirement Fund now owns 11,541 shares of the information technology services provider’s stock valued at $2,583,000 after acquiring an additional 54 shares in the last quarter. Profund Advisors LLC lifted its position in CDW by 0.5% during 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 buying an additional 58 shares during the period. Finally, OneAscent Wealth Management LLC lifted its position in CDW by 2.5% during the third quarter. OneAscent Wealth Management LLC now owns 2,387 shares of the information technology services provider’s stock valued at $540,000 after buying an additional 58 shares during the period. Institutional investors own 93.15% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. Barclays lowered their price objective 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 lowered their price objective for the company from $250.00 to $245.00 in a research report on Tuesday, October 1st. JPMorgan Chase & Co. lowered CDW from an “overweight” rating to a “neutral” rating and lowered their price objective for the company from $260.00 to $235.00 in a research report on Monday, October 28th. Finally, Redburn Atlantic assumed coverage on CDW in a research report on Friday, November 15th. They set a “buy” rating and a $230.00 price objective for the company. Four analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $244.63.

CDW Trading Up 1.1 %

CDW stock opened at $175.99 on Thursday. The business has a 50-day simple moving average of $211.13 and a two-hundred day simple moving average of $219.03. The company has a market cap of $23.45 billion, a P/E ratio of 21.51, a P/E/G ratio of 4.96 and a beta of 1.05. CDW Co. has a 52-week low of $172.95 and a 52-week high of $263.37. 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 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 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%. The company’s revenue for the quarter was down 2.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.60 earnings per share. Analysts predict that CDW Co. will post 9.05 EPS for the current 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 paid a dividend of $0.625 per share. The ex-dividend date is Monday, November 25th. This is an increase from CDW’s previous quarterly dividend of $0.62. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.42%. CDW’s payout ratio is 30.56%.

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.