Allspring Global Investments Holdings LLC Grows Holdings in CDW Co. (NASDAQ:CDW)

Allspring Global Investments Holdings LLC raised its position in CDW Co. (NASDAQ:CDW) by 28.7% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,317 shares of the information technology services provider’s stock after purchasing an additional 2,076 shares during the period. Allspring Global Investments Holdings LLC’s holdings in CDW were worth $2,383,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CDW. Tsfg LLC acquired a new stake in CDW during the 1st quarter worth approximately $26,000. VisionPoint Advisory Group LLC acquired a new stake in CDW during the 3rd quarter worth approximately $28,000. Larson Financial Group LLC acquired a new stake in CDW during the 4th quarter worth approximately $30,000. Rise Advisors LLC acquired a new stake in CDW during the 1st quarter worth approximately $34,000. Finally, Orion Capital Management LLC acquired a new stake in CDW during the 3rd quarter worth approximately $35,000. 93.15% of the stock is currently owned by hedge funds and other institutional investors.

CDW Stock Performance

Shares of CDW opened at $219.12 on Wednesday. The business’s fifty day moving average price is $226.57 and its 200 day moving average price is $233.84. CDW Co. has a 12-month low of $180.38 and a 12-month high of $263.37. The stock has a market capitalization of $29.45 billion, a PE ratio of 27.36, a price-to-earnings-growth ratio of 3.30 and a beta of 1.04. The company has a debt-to-equity ratio of 2.35, a current ratio of 1.26 and a quick ratio of 1.13.

CDW (NASDAQ:CDW) last announced its quarterly earnings data on Wednesday, May 1st. The information technology services provider reported $1.89 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.04 by ($0.15). CDW had a return on equity of 67.56% and a net margin of 5.16%. The firm had revenue of $4.87 billion for the quarter, compared to the consensus estimate of $4.94 billion. Equities research analysts forecast that CDW Co. will post 9.67 EPS for the current year.

CDW Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 11th. Shareholders of record on Friday, May 24th were paid a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a yield of 1.13%. The ex-dividend date was Thursday, May 23rd. CDW’s payout ratio is 30.96%.

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. Stifel Nicolaus dropped their target price on shares of CDW from $265.00 to $250.00 and set a “buy” rating for the company in a research report on Thursday, May 2nd. Barclays lowered their price objective on shares of CDW from $261.00 to $232.00 and set an “equal weight” rating for the company in a research report on Thursday, May 2nd. Evercore ISI increased their price objective on shares of CDW from $250.00 to $300.00 and gave the company an “outperform” rating in a research report on Friday, March 22nd. Northcoast Research raised shares of CDW from a “neutral” rating to a “buy” rating and set a $270.00 price objective for the company in a research report on Friday, June 7th. Finally, Citigroup lowered their price objective on shares of CDW from $295.00 to $260.00 and set a “buy” rating for the company in a research report on Thursday, May 2nd. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $250.00.

CDW Company 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.