Perpetual Ltd Has $139.50 Million Stock Position in CDW Co. (NASDAQ:CDW)

Perpetual Ltd lifted its stake in shares of CDW Co. (NASDAQ:CDW) by 14.6% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 801,516 shares of the information technology services provider’s stock after purchasing an additional 102,004 shares during the period. CDW accounts for 1.7% of Perpetual Ltd’s holdings, making the stock its 17th biggest position. Perpetual Ltd owned about 0.60% of CDW worth $139,496,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently made changes to their positions in the stock. Canoe Financial LP acquired a new position in shares of CDW in the third quarter valued at $37,000. Fortitude Family Office LLC boosted its holdings in shares of CDW by 350.0% during the 3rd quarter. Fortitude Family Office LLC now owns 171 shares of the information technology services provider’s stock worth $39,000 after buying an additional 133 shares during the period. Ashton Thomas Securities LLC acquired a new position in CDW in the 3rd quarter valued at about $43,000. Covestor Ltd grew its stake in CDW by 80.1% in the 3rd quarter. Covestor Ltd now owns 245 shares of the information technology services provider’s stock valued at $55,000 after buying an additional 109 shares during the last quarter. Finally, Kimelman & Baird LLC bought a new position in CDW in the 2nd quarter valued at about $56,000. Institutional investors and hedge funds own 93.15% of the company’s stock.

CDW Trading Up 0.5 %

NASDAQ:CDW opened at $188.70 on Tuesday. The firm has a fifty day simple moving average of $178.95 and a two-hundred day simple moving average of $204.97. CDW Co. has a 12 month low of $168.43 and a 12 month high of $263.37. The stock has a market capitalization of $25.15 billion, a price-to-earnings ratio of 23.07, a PEG ratio of 5.11 and a beta of 1.01. The company has a current ratio of 1.40, a quick ratio of 1.28 and a debt-to-equity ratio of 2.39.

CDW (NASDAQ:CDW) last announced its quarterly earnings data on Wednesday, October 30th. The information technology services provider reported $2.63 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 firm had revenue of $5.52 billion during the quarter, compared to analyst estimates of $5.72 billion. During the same period last year, the business posted $2.60 EPS. The company’s revenue was down 2.0% on a year-over-year basis. Analysts expect that CDW Co. will post 8.99 EPS for the current fiscal year.

CDW Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Monday, November 25th were issued a dividend of $0.625 per share. This is a positive change from CDW’s previous quarterly dividend of $0.62. This represents a $2.50 dividend on an annualized basis and a yield of 1.32%. The ex-dividend date of this dividend was Monday, November 25th. CDW’s payout ratio is currently 30.56%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. JPMorgan Chase & Co. lowered shares of 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. Morgan Stanley lifted their price objective on CDW from $190.00 to $193.00 and gave the company an “equal weight” rating in a report on Monday, December 16th. Barclays reduced their target price on CDW from $229.00 to $201.00 and set an “equal weight” rating on the stock in a report on Thursday, October 31st. Redburn Atlantic began coverage on CDW in a research note on Friday, November 15th. They issued a “buy” rating and a $230.00 price target for the company. Finally, UBS Group reduced their price objective on shares of CDW from $233.00 to $220.00 and set a “buy” rating on the stock in a research note on Tuesday, January 7th. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $239.33.

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.