Empowered Funds LLC Acquires 5,456 Shares of CDW Co. (NASDAQ:CDW)

Empowered Funds LLC lifted its holdings in CDW Co. (NASDAQ:CDW) by 33.2% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 21,890 shares of the information technology services provider’s stock after acquiring an additional 5,456 shares during the period. Empowered Funds LLC’s holdings in CDW were worth $4,954,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in CDW. ORG Partners LLC purchased a new position in shares of CDW in the second quarter worth $34,000. Quest Partners LLC bought a new stake in shares of CDW in the second quarter worth about $35,000. Canoe Financial LP purchased a new stake in shares of CDW in the third quarter worth about $37,000. Fortitude Family Office LLC boosted its stake in CDW by 350.0% during the third quarter. Fortitude Family Office LLC now owns 171 shares of the information technology services provider’s stock valued at $39,000 after buying an additional 133 shares during the last quarter. Finally, Summit Securities Group LLC purchased a new position in CDW during the 2nd quarter valued at approximately $40,000. Hedge funds and other institutional investors own 93.15% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on CDW. Citigroup downgraded CDW from a “buy” rating to a “neutral” rating and lowered their target price for the company from $250.00 to $245.00 in a research report on Tuesday, October 1st. JPMorgan Chase & Co. lowered shares of 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. Barclays reduced their target price on shares of CDW from $229.00 to $201.00 and set an “equal weight” rating on the stock in a report on Thursday, October 31st. Finally, Redburn Atlantic began coverage on shares of CDW in a report on Friday. They issued a “buy” rating and a $230.00 price target for the company. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, CDW has a consensus rating of “Moderate Buy” and an average target price of $244.63.

CDW Trading Down 1.7 %

Shares of CDW opened at $177.63 on Monday. CDW Co. has a twelve month low of $175.94 and a twelve month high of $263.37. The company has a current ratio of 1.40, a quick ratio of 1.28 and a debt-to-equity ratio of 2.39. The company’s fifty day simple moving average is $213.49 and its 200-day simple moving average is $219.94. The company has a market cap of $23.67 billion, a P/E ratio of 21.72, a P/E/G ratio of 4.96 and a beta of 1.05.

CDW (NASDAQ:CDW) last announced its quarterly earnings data on Wednesday, October 30th. The information technology services provider reported $2.63 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.68 by ($0.05). The firm had revenue of $5.52 billion during the quarter, compared to the consensus estimate of $5.72 billion. CDW had a return on equity of 58.31% and a net margin of 5.33%. The firm’s revenue for the quarter was down 2.0% on a year-over-year basis. During the same period in the previous year, the business earned $2.60 EPS. As a group, analysts expect that CDW Co. will post 9.05 EPS for the current year.

CDW Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Monday, November 25th will be issued a dividend of $0.625 per share. The ex-dividend date of this dividend is Monday, November 25th. This represents a $2.50 dividend on an annualized basis and a yield of 1.41%. This is a boost from CDW’s previous quarterly dividend of $0.62. CDW’s payout ratio is presently 30.32%.

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.