Impax Asset Management Group plc Buys 1,902 Shares of CDW Co. (NASDAQ:CDW)

Impax Asset Management Group plc lifted its stake in CDW Co. (NASDAQ:CDW) by 6.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 33,653 shares of the information technology services provider’s stock after acquiring an additional 1,902 shares during the period. Impax Asset Management Group plc’s holdings in CDW were worth $7,616,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. ORG Partners LLC bought a new stake in CDW during the second quarter valued at $34,000. Quest Partners LLC bought a new stake in CDW during the second quarter valued at $35,000. Canoe Financial LP bought a new stake in CDW during the third quarter valued at $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 period. Finally, Summit Securities Group LLC bought a new stake in CDW during the second quarter valued at $40,000. 93.15% of the stock is owned by institutional investors.

CDW Stock Down 1.7 %

Shares of NASDAQ: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 has a market cap of $23.67 billion, a PE ratio of 21.72, a P/E/G ratio of 5.19 and a beta of 1.05. The company has a debt-to-equity ratio of 2.39, a current ratio of 1.40 and a quick ratio of 1.28. The stock’s 50-day moving average is $213.49 and its 200 day moving average is $220.05.

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

CDW Increases Dividend

The firm also recently declared 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. This represents a $2.50 dividend on an annualized basis and a yield of 1.41%. The ex-dividend date of this dividend is Monday, November 25th. This is an increase from CDW’s previous quarterly dividend of $0.62. CDW’s payout ratio is currently 30.32%.

Analysts Set New Price Targets

CDW has been the subject of several research analyst reports. JPMorgan Chase & Co. lowered CDW from an “overweight” rating to a “neutral” rating and dropped their price target for the stock from $260.00 to $235.00 in a research note on Monday, October 28th. Citigroup lowered CDW from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $250.00 to $245.00 in a research note on Tuesday, October 1st. Redburn Atlantic initiated coverage on CDW in a research note on Friday. They set a “buy” rating and a $230.00 price target for the company. Finally, Barclays dropped their price target on CDW from $229.00 to $201.00 and set an “equal weight” rating for the company in a research note on Thursday, October 31st. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average 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.