Raymond James Trust N.A. Increases Stock Position in CDW Co. (NASDAQ:CDW)

Raymond James Trust N.A. grew its position in shares of CDW Co. (NASDAQ:CDW) by 4.0% in the third quarter, HoldingsChannel reports. The firm owned 2,197 shares of the information technology services provider’s stock after buying an additional 85 shares during the quarter. Raymond James Trust N.A.’s holdings in CDW were worth $497,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in CDW. Charles Schwab Investment Management Inc. increased its position in CDW by 1.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 775,240 shares of the information technology services provider’s stock worth $175,437,000 after purchasing an additional 7,764 shares during the last quarter. Massachusetts Financial Services Co. MA purchased a new position in shares of CDW in the 3rd quarter worth $416,111,000. Thompson Siegel & Walmsley LLC increased its holdings in shares of CDW by 8.8% in the 3rd quarter. Thompson Siegel & Walmsley LLC now owns 24,712 shares of the information technology services provider’s stock worth $5,592,000 after buying an additional 2,000 shares during the last quarter. PNC Financial Services Group Inc. raised its position in shares of CDW by 2.3% during the 3rd quarter. PNC Financial Services Group Inc. now owns 696,733 shares of the information technology services provider’s stock valued at $157,671,000 after buying an additional 15,527 shares in the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG bought a new position in shares of CDW in the 3rd quarter valued at about $16,875,000. 93.15% of the stock is owned by institutional investors.

CDW Price Performance

Shares of CDW opened at $177.80 on Wednesday. The company has a debt-to-equity ratio of 2.39, a quick ratio of 1.28 and a current ratio of 1.40. The stock has a market capitalization of $23.69 billion, a PE ratio of 22.17, a PEG ratio of 5.03 and a beta of 1.05. The company has a 50 day moving average price of $208.69 and a 200-day moving average price of $218.12. CDW Co. has a fifty-two week low of $172.95 and a fifty-two week high of $263.37.

CDW (NASDAQ:CDW) last released its quarterly earnings results 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). CDW had a net margin of 5.33% and a return on equity of 58.31%. The firm had revenue of $5.52 billion for the quarter, compared to analysts’ expectations of $5.72 billion. During the same period in the previous year, the company posted $2.60 earnings per share. The business’s quarterly revenue was down 2.0% compared to the same quarter last year. Equities analysts predict that CDW Co. will post 8.99 earnings per share for the current fiscal year.

CDW Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Monday, November 25th will be issued a $0.625 dividend. This is a positive change from CDW’s previous quarterly dividend of $0.62. This represents a $2.50 annualized dividend and a yield of 1.41%. The ex-dividend date of this dividend is Monday, November 25th. CDW’s payout ratio is currently 30.56%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. Barclays decreased their price objective on CDW from $229.00 to $201.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 31st. Redburn Atlantic initiated coverage on CDW in a report on Friday, November 15th. They set a “buy” rating and a $230.00 price target on the stock. JPMorgan Chase & Co. downgraded 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 research report on Monday, October 28th. Finally, Citigroup cut shares of CDW from a “buy” rating to a “neutral” rating and cut their price objective for the company from $250.00 to $245.00 in a research report on Tuesday, October 1st. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $244.63.

CDW 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.