CDW Co. (NASDAQ:CDW) Shares Purchased by Tokio Marine Asset Management Co. Ltd.

Tokio Marine Asset Management Co. Ltd. increased its position in shares of CDW Co. (NASDAQ:CDW) by 2.5% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,827 shares of the information technology services provider’s stock after purchasing an additional 92 shares during the quarter. Tokio Marine Asset Management Co. Ltd.’s holdings in CDW were worth $866,000 as of its most recent filing with the SEC.

A number of other hedge funds have also modified their holdings of CDW. Russell Investments Group Ltd. grew its position in shares of CDW by 1.9% in the first quarter. Russell Investments Group Ltd. now owns 61,206 shares of the information technology services provider’s stock valued at $15,695,000 after purchasing an additional 1,149 shares in the last quarter. Orion Portfolio Solutions LLC increased its holdings in CDW by 6.5% in the 1st quarter. Orion Portfolio Solutions LLC now owns 6,185 shares of the information technology services provider’s stock valued at $1,582,000 after purchasing an additional 377 shares during the last quarter. M&G Plc purchased a new stake in shares of CDW in the 1st quarter valued at $8,528,000. Pinnacle Wealth Planning Services Inc. lifted its position in shares of CDW by 13.6% during the first quarter. Pinnacle Wealth Planning Services Inc. now owns 1,525 shares of the information technology services provider’s stock worth $390,000 after purchasing an additional 183 shares in the last quarter. Finally, Vanguard Group Inc. boosted its position in CDW by 4.6% in the 1st quarter. Vanguard Group Inc. now owns 16,407,542 shares of the information technology services provider’s stock valued at $4,196,721,000 after buying an additional 714,393 shares during the period. 93.15% of the stock is currently owned by institutional investors and hedge funds.

CDW Stock Performance

Shares of CDW opened at $177.63 on Friday. CDW Co. has a 1 year low of $175.94 and a 1 year high of $263.37. The company’s 50 day simple moving average is $213.49 and its 200 day simple moving average is $220.05. 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 company has a market capitalization of $23.67 billion, a price-to-earnings ratio of 21.72, a PEG ratio of 5.19 and a beta of 1.05.

CDW (NASDAQ:CDW) last released its earnings results on Wednesday, October 30th. The information technology services provider reported $2.63 earnings per share for the quarter, missing the consensus estimate of $2.68 by ($0.05). CDW had a return on equity of 58.31% and a net margin of 5.33%. The business had revenue of $5.52 billion for the quarter, compared to analysts’ expectations of $5.72 billion. During the same quarter last 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. On average, sell-side analysts predict that CDW Co. will post 9.05 EPS for the current year.

CDW Increases Dividend

The business 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 represents a $2.50 dividend on an annualized basis and a dividend yield of 1.41%. The ex-dividend date is Monday, November 25th. This is a positive change from CDW’s previous quarterly dividend of $0.62. CDW’s dividend payout ratio (DPR) is 30.32%.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. Citigroup downgraded CDW from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $250.00 to $245.00 in a research report on Tuesday, October 1st. Redburn Atlantic began coverage on CDW in a report on Friday. They issued a “buy” rating and a $230.00 target price for the company. Barclays lowered their price objective on shares of CDW from $229.00 to $201.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 31st. Finally, JPMorgan Chase & Co. cut CDW from an “overweight” rating to a “neutral” rating and cut their price target for the stock from $260.00 to $235.00 in a research note on Monday, October 28th. 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 MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target 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.