HM Payson & Co. Has $88.75 Million Stock Position in CDW Co. (NASDAQ:CDW)

HM Payson & Co. boosted its holdings in shares of CDW Co. (NASDAQ:CDW) by 0.4% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 392,169 shares of the information technology services provider’s stock after buying an additional 1,636 shares during the period. CDW makes up about 1.5% of HM Payson & Co.’s holdings, making the stock its 20th biggest position. HM Payson & Co.’s holdings in CDW were worth $88,748,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of CDW. Vanguard Group Inc. boosted its stake in shares of CDW by 4.6% during the 1st quarter. Vanguard Group Inc. now owns 16,407,542 shares of the information technology services provider’s stock worth $4,196,721,000 after acquiring an additional 714,393 shares in the last quarter. Perpetual Ltd acquired a new position in CDW in the 3rd quarter valued at approximately $158,300,000. Lazard Asset Management LLC raised its holdings in shares of CDW by 225.9% in the 1st quarter. Lazard Asset Management LLC now owns 881,586 shares of the information technology services provider’s stock worth $225,491,000 after buying an additional 611,054 shares in the last quarter. Ceredex Value Advisors LLC acquired a new position in shares of CDW in the 2nd quarter worth approximately $79,549,000. Finally, Canada Pension Plan Investment Board increased its holdings in CDW by 2,045.4% during the 2nd quarter. Canada Pension Plan Investment Board now owns 294,302 shares of the information technology services provider’s stock valued at $65,877,000 after purchasing an additional 280,584 shares in the last quarter. 93.15% of the stock is owned by institutional investors and hedge funds.

CDW Price Performance

Shares of NASDAQ:CDW traded down $5.01 during trading on Thursday, hitting $190.05. 79,305 shares of the company were exchanged, compared to its average volume of 828,910. The business’s 50 day moving average is $221.46 and its 200-day moving average is $224.17. The company has a market capitalization of $25.54 billion, a P/E ratio of 24.35, a price-to-earnings-growth ratio of 3.42 and a beta of 1.03. The company has a quick ratio of 1.02, a current ratio of 1.13 and a debt-to-equity ratio of 2.03. CDW Co. has a 1-year low of $185.04 and a 1-year high of $263.37.

CDW (NASDAQ:CDW) last issued its quarterly earnings results on Wednesday, July 31st. The information technology services provider reported $2.34 EPS for the quarter, missing analysts’ consensus estimates of $2.39 by ($0.05). The firm had revenue of $5.42 billion for the quarter, compared to the consensus estimate of $5.43 billion. CDW had a net margin of 5.29% and a return on equity of 62.22%. The business’s revenue was down 3.6% compared to the same quarter last year. During the same period last year, the company posted $2.43 EPS. Equities analysts forecast that CDW Co. will post 9.4 earnings per share for the current year.

CDW Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Monday, November 25th will be issued a $0.625 dividend. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.32%. 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 dividend payout ratio is currently 30.96%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Citigroup lowered CDW from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $250.00 to $245.00 in a research report on Tuesday, October 1st. JPMorgan Chase & Co. lowered CDW from an “overweight” rating to a “neutral” rating and decreased their price objective for the company from $260.00 to $235.00 in a research report on Monday. Barclays decreased their price objective on CDW from $232.00 to $229.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 1st. Finally, Stifel Nicolaus raised their price target on CDW from $250.00 to $260.00 and gave the stock a “buy” rating in a research report on Wednesday, July 17th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, CDW has a consensus rating of “Hold” and an average price target of $250.71.

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.