Mediolanum International Funds Ltd Grows Holdings in CDW Co. (NASDAQ:CDW)

Mediolanum International Funds Ltd grew its position in shares of CDW Co. (NASDAQ:CDW) by 14.9% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 20,434 shares of the information technology services provider’s stock after acquiring an additional 2,655 shares during the quarter. Mediolanum International Funds Ltd’s holdings in CDW were worth $4,622,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. raised its position 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 worth $4,196,721,000 after purchasing an additional 714,393 shares during the period. Perpetual Ltd acquired a new stake in shares of CDW during the third quarter worth $158,300,000. Lazard Asset Management LLC boosted its position in shares of CDW by 225.9% in the 1st quarter. Lazard Asset Management LLC now owns 881,586 shares of the information technology services provider’s stock valued at $225,491,000 after purchasing an additional 611,054 shares during the period. Ceredex Value Advisors LLC acquired a new position in shares of CDW in the second quarter worth about $79,549,000. Finally, Canada Pension Plan Investment Board boosted its position in shares of CDW by 2,045.4% in 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 buying an additional 280,584 shares during the period. 93.15% of the stock is currently owned by hedge funds and other institutional investors.

CDW Trading Down 1.0 %

Shares of CDW stock opened at $217.01 on Friday. The company has a quick ratio of 1.02, a current ratio of 1.13 and a debt-to-equity ratio of 2.03. The stock has a market capitalization of $29.17 billion, a P/E ratio of 27.09, a price-to-earnings-growth ratio of 3.42 and a beta of 1.03. The company has a 50-day simple moving average of $221.50 and a 200 day simple moving average of $224.70. CDW Co. has a 12-month low of $185.04 and a 12-month high of $263.37.

CDW (NASDAQ:CDW) last released its earnings results on Wednesday, July 31st. The information technology services provider reported $2.34 EPS for the quarter, missing the consensus estimate of $2.39 by ($0.05). CDW had a net margin of 5.29% and a return on equity of 62.22%. The firm had revenue of $5.42 billion during the quarter, compared to analyst estimates of $5.43 billion. During the same period last year, the business posted $2.43 earnings per share. The firm’s quarterly revenue was down 3.6% on a year-over-year basis. Research analysts expect that CDW Co. will post 9.4 earnings per share for the current fiscal year.

CDW Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Monday, August 26th were paid a $0.62 dividend. This represents a $2.48 annualized dividend and a yield of 1.14%. The ex-dividend date of this dividend was Monday, August 26th. CDW’s payout ratio is 30.96%.

Wall Street Analyst Weigh In

CDW has been the subject of a number of recent research reports. Citigroup downgraded CDW from a “buy” rating to a “neutral” rating and cut their price target for the stock from $250.00 to $245.00 in a research note on Tuesday, October 1st. Stifel Nicolaus increased their price target on CDW from $250.00 to $260.00 and gave the company a “buy” rating in a report on Wednesday, July 17th. Finally, Barclays lowered their target price on shares of CDW from $232.00 to $229.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 1st. Three research 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.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $255.00.

Insider Activity at CDW

In other CDW news, insider Christine A. Leahy bought 1,200 shares of the firm’s stock in a transaction on Thursday, August 1st. The stock was purchased at an average cost of $216.15 per share, with a total value of $259,380.00. Following the completion of the purchase, the insider now owns 102,200 shares in the company, valued at approximately $22,090,530. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.90% of the stock is currently owned by corporate insiders.

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.