Mill Creek Capital Advisors LLC Trims Stock Position in CDW Co. (NASDAQ:CDW)

by · The Markets Daily

Mill Creek Capital Advisors LLC lessened its stake in shares of CDW Co. (NASDAQ:CDW – Free Report) by 19.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,082 shares of the information technology services provider’s stock after selling 263 shares during the quarter. Mill Creek Capital Advisors LLC’s holdings in CDW were worth $245,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of CDW. Orion Portfolio Solutions LLC lifted its position in shares of CDW by 6.5% during the 1st quarter. Orion Portfolio Solutions LLC now owns 6,185 shares of the information technology services provider’s stock worth $1,582,000 after buying an additional 377 shares during the last quarter. Acadian Asset Management LLC lifted its position in shares of CDW by 211.5% during the 1st quarter. Acadian Asset Management LLC now owns 44,205 shares of the information technology services provider’s stock worth $11,302,000 after buying an additional 30,012 shares during the last quarter. Ontario Teachers Pension Plan Board lifted its position in shares of CDW by 71.4% during the 1st quarter. Ontario Teachers Pension Plan Board now owns 8,075 shares of the information technology services provider’s stock worth $2,065,000 after buying an additional 3,365 shares during the last quarter. O Shaughnessy Asset Management LLC lifted its position in shares of CDW by 6.6% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 23,923 shares of the information technology services provider’s stock worth $6,119,000 after buying an additional 1,490 shares during the last quarter. Finally, UniSuper Management Pty Ltd raised its position in CDW by 29.9% in the 1st quarter. UniSuper Management Pty Ltd now owns 21,056 shares of the information technology services provider’s stock valued at $5,386,000 after purchasing an additional 4,845 shares during the last quarter. Hedge funds and other institutional investors own 93.15% of the company’s stock.

CDW Stock Performance

Shares of CDW opened at $177.63 on Monday. 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 stock has a market capitalization of $23.67 billion, a P/E ratio of 21.72, a P/E/G ratio of 4.96 and a beta of 1.05. The company’s fifty day moving average is $213.49 and its two-hundred day moving average is $219.94. CDW Co. has a 1 year low of $175.94 and a 1 year high of $263.37.

CDW (NASDAQ:CDW – Get Free Report) last announced its quarterly earnings data 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). The firm had revenue of $5.52 billion during the quarter, compared to analyst estimates of $5.72 billion. CDW had a net margin of 5.33% and a return on equity of 58.31%. The business’s quarterly revenue was down 2.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.60 earnings per share. On average, sell-side analysts predict that CDW Co. will post 9.05 earnings per share for the current year.

CDW Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Monday, November 25th will be paid a dividend of $0.625 per share. The ex-dividend date is Monday, November 25th. This is a boost from CDW’s previous quarterly dividend of $0.62. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.41%. CDW’s dividend payout ratio is 30.32%.

Wall Street Analyst Weigh In

CDW has been the subject of several research reports. Redburn Atlantic initiated coverage on shares of CDW in a research report on Friday. They issued a “buy” rating and a $230.00 price target for the company. Citigroup downgraded shares of CDW from a “buy” rating to a “neutral” rating and reduced their price target for the company from $250.00 to $245.00 in a research report on Tuesday, October 1st. 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. Finally, JPMorgan Chase & Co. downgraded shares of CDW from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $260.00 to $235.00 in a research report on Monday, October 28th. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $244.63.

Check Out Our Latest Stock Report on CDW

About CDW

(Free Report)

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.

Further Reading