Janus Henderson Group PLC Raises Stock Position in CDW Co. (NASDAQ:CDW)

Janus Henderson Group PLC increased its holdings in shares of CDW Co. (NASDAQ:CDW) by 7,029.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,466,597 shares of the information technology services provider’s stock after purchasing an additional 1,446,025 shares during the period. Janus Henderson Group PLC owned approximately 1.10% of CDW worth $331,891,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. ORG Partners LLC purchased a new position in shares of CDW during the second quarter worth $34,000. Quest Partners LLC purchased a new position in CDW in the second quarter valued at $35,000. Canoe Financial LP purchased a new position in CDW in the third quarter valued at $37,000. Fortitude Family Office LLC increased its holdings in CDW by 350.0% in the third quarter. Fortitude Family Office LLC now owns 171 shares of the information technology services provider’s stock valued at $39,000 after buying an additional 133 shares in the last quarter. Finally, Summit Securities Group LLC purchased a new position in CDW in the second quarter valued at $40,000. Hedge funds and other institutional investors own 93.15% of the company’s stock.

CDW Stock Performance

CDW opened at $179.63 on Wednesday. The firm has a market capitalization of $23.94 billion, a PE ratio of 21.96, a PEG ratio of 5.08 and a beta of 1.02. CDW Co. has a twelve month low of $172.95 and a twelve month high of $263.37. The firm’s 50-day moving average price is $203.11 and its 200 day moving average price is $216.22. 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 posted its quarterly earnings results on Wednesday, October 30th. The information technology services provider reported $2.63 earnings per share for the quarter, missing analysts’ consensus estimates of $2.68 by ($0.05). The business had revenue of $5.52 billion for the quarter, compared to analyst estimates of $5.72 billion. CDW had a return on equity of 58.31% and a net margin of 5.33%. The business’s revenue was down 2.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.60 earnings per share. As a group, sell-side analysts expect that CDW Co. will post 8.99 EPS for the current fiscal year.

CDW Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders 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 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 30.56%.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Barclays cut their price objective on shares of CDW from $229.00 to $201.00 and set an “equal weight” rating for the company in a report on Thursday, October 31st. JPMorgan Chase & Co. lowered shares of CDW from an “overweight” rating to a “neutral” rating and dropped their target price for the company from $260.00 to $235.00 in a research report on Monday, October 28th. Citigroup lowered shares of CDW from a “buy” rating to a “neutral” rating and dropped their target price for the company from $250.00 to $245.00 in a research report on Tuesday, October 1st. Finally, Redburn Atlantic started coverage on shares of CDW in a research report on Friday, November 15th. They issued a “buy” rating and a $230.00 target price on the stock. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $244.63.

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.