Thrivent Financial for Lutherans Buys 68,023 Shares of CDW Co. (NASDAQ:CDW)

Thrivent Financial for Lutherans grew its stake in shares of CDW Co. (NASDAQ:CDW) by 12.8% in the 3rd quarter, Holdings Channel.com reports. The fund owned 599,900 shares of the information technology services provider’s stock after acquiring an additional 68,023 shares during the period. Thrivent Financial for Lutherans’ holdings in CDW were worth $135,758,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of CDW. Acadian Asset Management LLC grew its position in CDW by 211.5% during the 1st quarter. Acadian Asset Management LLC now owns 44,205 shares of the information technology services provider’s stock valued at $11,302,000 after purchasing an additional 30,012 shares during the last quarter. Peak Financial Advisors LLC bought a new position in shares of CDW in the second quarter worth approximately $2,854,000. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund purchased a new stake in shares of CDW during the third quarter valued at approximately $12,761,000. Virtu Financial LLC increased its position in shares of CDW by 175.9% during the first quarter. Virtu Financial LLC now owns 7,115 shares of the information technology services provider’s stock valued at $1,820,000 after acquiring an additional 4,536 shares in the last quarter. Finally, Ontario Teachers Pension Plan Board raised its holdings in CDW by 71.4% in the 1st quarter. Ontario Teachers Pension Plan Board now owns 8,075 shares of the information technology services provider’s stock worth $2,065,000 after acquiring an additional 3,365 shares during the last quarter. Hedge funds and other institutional investors own 93.15% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on CDW. Redburn Atlantic assumed coverage on CDW in a research note on Friday. They set a “buy” rating and a $230.00 target price on the stock. Barclays dropped 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. JPMorgan Chase & Co. lowered CDW from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $260.00 to $235.00 in a research report on Monday, October 28th. Finally, Citigroup downgraded shares of CDW from a “buy” rating to a “neutral” rating and dropped their price target for the company from $250.00 to $245.00 in a report on Tuesday, October 1st. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $244.63.

CDW Stock Down 1.7 %

CDW stock opened at $177.63 on Friday. The stock has a market cap of $23.67 billion, a PE ratio of 21.72, a price-to-earnings-growth ratio of 4.96 and a beta of 1.05. 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 stock has a fifty day moving average of $213.49 and a 200 day moving average of $219.90. CDW Co. has a one year low of $175.94 and a one year 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). The business had revenue of $5.52 billion for the quarter, compared to analysts’ expectations of $5.72 billion. CDW had a net margin of 5.33% and a return on equity of 58.31%. CDW’s revenue for the quarter was down 2.0% compared to the same quarter last year. During the same period in the previous year, the company earned $2.60 EPS. As a group, 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 dividend of $0.625 per share. This represents a $2.50 annualized dividend and a yield of 1.41%. The ex-dividend date of this dividend is Monday, November 25th. This is a positive change from CDW’s previous quarterly dividend of $0.62. CDW’s payout ratio is currently 30.32%.

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.