CDW Co. (NASDAQ:CDW) Shares Bought by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. grew its stake in CDW Co. (NASDAQ:CDW) by 7,549.9% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 256,271 shares of the information technology services provider’s stock after purchasing an additional 252,921 shares during the quarter. Assenagon Asset Management S.A. owned approximately 0.19% of CDW worth $44,601,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of CDW. Trust Co. of Toledo NA OH raised its position in shares of CDW by 9.1% during the 4th quarter. Trust Co. of Toledo NA OH now owns 1,787 shares of the information technology services provider’s stock valued at $311,000 after acquiring an additional 149 shares in the last quarter. Czech National Bank increased its stake in CDW by 6.2% during the fourth quarter. Czech National Bank now owns 28,895 shares of the information technology services provider’s stock valued at $5,029,000 after purchasing an additional 1,685 shares during the last quarter. ORG Wealth Partners LLC acquired a new stake in shares of CDW during the fourth quarter worth $69,000. Ridgewood Investments LLC bought a new position in shares of CDW in the 4th quarter worth about $104,000. Finally, Diversified Trust Co acquired a new position in shares of CDW in the 4th quarter valued at about $1,529,000. Institutional investors own 93.15% of the company’s stock.

Wall Street Analyst Weigh In

CDW has been the topic of several research reports. Citigroup lowered shares of CDW from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $250.00 to $245.00 in a research note on Tuesday, October 1st. Redburn Atlantic assumed coverage on CDW in a report on Friday, November 15th. They issued a “buy” rating and a $230.00 price target on the stock. Barclays reduced their price objective on CDW from $229.00 to $201.00 and set an “equal weight” rating for the company in a research report on Thursday, October 31st. JPMorgan Chase & Co. cut CDW from an “overweight” rating to a “neutral” rating and cut their target price for the company from $260.00 to $235.00 in a research note on Monday, October 28th. Finally, UBS Group lowered their price target on shares of CDW from $233.00 to $220.00 and set a “buy” rating for the company in a research report on Tuesday, January 7th. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $239.33.

CDW Stock Performance

NASDAQ:CDW opened at $187.79 on Friday. The company has a current ratio of 1.40, a quick ratio of 1.28 and a debt-to-equity ratio of 2.39. The company has a 50-day moving average of $179.35 and a 200-day moving average of $205.58. CDW Co. has a twelve month low of $168.43 and a twelve month high of $263.37. The firm has a market cap of $25.02 billion, a price-to-earnings ratio of 22.96, a price-to-earnings-growth ratio of 4.91 and a beta of 1.01.

CDW (NASDAQ:CDW) last posted its quarterly earnings results on Wednesday, October 30th. The information technology services provider reported $2.63 earnings per share (EPS) 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 firm posted $2.60 EPS. The company’s quarterly revenue was down 2.0% compared to the same quarter last year. Analysts forecast that CDW Co. will post 8.99 earnings per share for the current fiscal year.

CDW Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Monday, November 25th were given a dividend of $0.625 per share. The ex-dividend date was Monday, November 25th. 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 dividend yield of 1.33%. CDW’s payout ratio is 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.