UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Has $184.09 Million Stock Position in CDW Co. (NASDAQ:CDW)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC cut its holdings in CDW Co. (NASDAQ:CDW) by 6.7% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 813,480 shares of the information technology services provider’s stock after selling 58,739 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.61% of CDW worth $184,091,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in CDW. ORG Partners LLC bought a new position in shares of CDW during the 2nd quarter worth about $34,000. Quest Partners LLC bought a new position in CDW in the second quarter worth approximately $35,000. Canoe Financial LP acquired a new stake in CDW in the third quarter valued at approximately $37,000. Fortitude Family Office LLC grew its stake in CDW by 350.0% in the third quarter. Fortitude Family Office LLC now owns 171 shares of the information technology services provider’s stock valued at $39,000 after acquiring an additional 133 shares during the period. Finally, Summit Securities Group LLC acquired a new position in shares of CDW during the second quarter worth approximately $40,000. 93.15% of the stock is owned by institutional investors and hedge funds.

CDW Stock Down 0.5 %

CDW stock opened at $175.93 on Friday. CDW Co. has a fifty-two week low of $172.95 and a fifty-two week high of $263.37. 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 firm’s 50-day simple moving average is $204.87 and its 200 day simple moving average is $216.92. The stock has a market cap of $23.45 billion, a PE ratio of 21.51, a price-to-earnings-growth ratio of 4.97 and a beta of 1.05.

CDW (NASDAQ:CDW) last announced its earnings results on Wednesday, October 30th. The information technology services provider reported $2.63 earnings per share for the quarter, missing analysts’ consensus estimates of $2.68 by ($0.05). The business had revenue of $5.52 billion during the quarter, compared to analysts’ expectations of $5.72 billion. CDW had a return on equity of 58.31% and a net margin of 5.33%. CDW’s quarterly revenue was down 2.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.60 EPS. Research analysts predict that CDW Co. will post 8.99 EPS for the current fiscal year.

CDW Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Monday, November 25th will be given a dividend of $0.625 per share. 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. This represents a $2.50 annualized dividend and a dividend yield of 1.42%. CDW’s dividend payout ratio (DPR) is currently 30.56%.

Analysts Set New Price Targets

Several research firms recently issued reports on CDW. Barclays reduced their price target on shares of CDW from $229.00 to $201.00 and set an “equal weight” rating for the company in a research report on Thursday, October 31st. Citigroup downgraded shares of CDW from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $250.00 to $245.00 in a research report on Tuesday, October 1st. Redburn Atlantic initiated coverage on shares of CDW in a research report on Friday, November 15th. They issued a “buy” rating and a $230.00 price target on the stock. Finally, JPMorgan Chase & Co. downgraded CDW from an “overweight” rating to a “neutral” rating and cut their price target for the company from $260.00 to $235.00 in a research note on Monday, October 28th. Four equities research 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, CDW presently has an average rating of “Moderate Buy” and an average target price 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.