iA Global Asset Management Inc. Sells 61,829 Shares of CDW Co. (NASDAQ:CDW)

iA Global Asset Management Inc. trimmed its holdings in CDW Co. (NASDAQ:CDW) by 82.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 13,616 shares of the information technology services provider’s stock after selling 61,829 shares during the quarter. iA Global Asset Management Inc.’s holdings in CDW were worth $3,081,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Massachusetts Financial Services Co. MA purchased a new position in CDW during the 3rd quarter worth $416,111,000. Janus Henderson Group PLC raised its holdings in shares of CDW by 7,029.1% in the 3rd quarter. Janus Henderson Group PLC now owns 1,466,597 shares of the information technology services provider’s stock valued at $331,891,000 after purchasing an additional 1,446,025 shares in the last quarter. Holocene Advisors LP purchased a new stake in shares of CDW in the 3rd quarter worth approximately $172,217,000. Perpetual Ltd bought a new position in shares of CDW during the third quarter valued at approximately $158,300,000. Finally, Ceredex Value Advisors LLC purchased a new position in CDW during the second quarter valued at approximately $79,549,000. 93.15% of the stock is owned by institutional investors.

Analyst Ratings Changes

CDW has been the subject of a number of analyst reports. Redburn Atlantic assumed coverage on CDW in a report on Friday, November 15th. They set a “buy” rating and a $230.00 target price for the company. Citigroup downgraded shares of CDW from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $250.00 to $245.00 in a research report on Tuesday, October 1st. Barclays decreased their target price 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. Finally, JPMorgan Chase & Co. lowered shares of CDW from an “overweight” rating to a “neutral” rating and cut their price target for the stock from $260.00 to $235.00 in a report on Monday, October 28th. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $244.63.

CDW Stock Up 1.0 %

CDW stock opened at $180.06 on Monday. The business’s 50-day simple moving average is $200.31 and its two-hundred day simple moving average is $215.11. 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 company has a market cap of $24.00 billion, a PE ratio of 22.01, a PEG ratio of 5.01 and a beta of 1.02. CDW Co. has a fifty-two week low of $172.95 and a fifty-two week high of $263.37.

CDW (NASDAQ:CDW) last issued its quarterly earnings results on Wednesday, October 30th. The information technology services provider reported $2.63 earnings per share for the quarter, missing the consensus estimate of $2.68 by ($0.05). CDW had a return on equity of 58.31% and a net margin of 5.33%. The business had revenue of $5.52 billion during the quarter, compared to analyst estimates of $5.72 billion. During the same quarter last year, the company posted $2.60 EPS. CDW’s quarterly revenue was down 2.0% compared to the same quarter last year. Equities analysts anticipate that CDW Co. will post 8.99 EPS 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 given a dividend of $0.625 per share. The ex-dividend date of this dividend is Monday, November 25th. This is an increase from CDW’s previous quarterly dividend of $0.62. This represents a $2.50 dividend on an annualized basis and a yield of 1.39%. CDW’s payout ratio is currently 30.56%.

About CDW

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.