China Universal Asset Management Co. Ltd. Buys 886 Shares of CDW Co. (NASDAQ:CDW)

China Universal Asset Management Co. Ltd. boosted its stake in shares of CDW Co. (NASDAQ:CDW) by 109.7% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,694 shares of the information technology services provider’s stock after buying an additional 886 shares during the quarter. China Universal Asset Management Co. Ltd.’s holdings in CDW were worth $383,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CDW. State of Alaska Department of Revenue raised its stake in shares of CDW by 0.4% during the first quarter. State of Alaska Department of Revenue now owns 14,533 shares of the information technology services provider’s stock valued at $3,717,000 after acquiring an additional 65 shares in the last quarter. Lake Street Private Wealth LLC bought a new stake in CDW during the 1st quarter valued at $330,000. First Trust Direct Indexing L.P. lifted its holdings in shares of CDW by 23.5% in the 1st quarter. First Trust Direct Indexing L.P. now owns 2,291 shares of the information technology services provider’s stock worth $586,000 after buying an additional 436 shares during the period. Maryland State Retirement & Pension System grew its position in shares of CDW by 2.8% during the 1st quarter. Maryland State Retirement & Pension System now owns 10,606 shares of the information technology services provider’s stock worth $2,519,000 after buying an additional 286 shares in the last quarter. Finally, HB Wealth Management LLC increased its stake in shares of CDW by 5.1% during the first quarter. HB Wealth Management LLC now owns 1,543 shares of the information technology services provider’s stock valued at $395,000 after buying an additional 75 shares during the period. Institutional investors own 93.15% of the company’s stock.

Analyst Ratings Changes

CDW has been the subject of a number of research reports. JPMorgan Chase & Co. lowered shares of CDW from an “overweight” rating to a “neutral” rating and lowered their price objective for the stock from $260.00 to $235.00 in a research note on Monday. Citigroup cut shares of CDW from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $250.00 to $245.00 in a research report on Tuesday, October 1st. Stifel Nicolaus lifted their price objective on shares of 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 CDW from $232.00 to $229.00 and set an “equal weight” rating for the company in a report on Thursday, August 1st. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $250.71.

CDW Trading Down 11.3 %

NASDAQ CDW opened at $195.06 on Thursday. The firm has a market cap of $26.22 billion, a PE ratio of 24.35, a price-to-earnings-growth ratio of 3.42 and a beta of 1.03. CDW Co. has a 52 week low of $185.04 and a 52 week high of $263.37. 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 company has a 50 day moving average price of $221.46 and a 200 day moving average price of $224.17.

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

CDW Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Monday, November 25th will be paid a $0.625 dividend. This is a boost from CDW’s previous quarterly dividend of $0.62. This represents a $2.50 dividend on an annualized basis and a yield of 1.28%. CDW’s dividend payout ratio (DPR) is 30.96%.

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.