Toronto Dominion Bank Buys 779 Shares of CDW Co. (NASDAQ:CDW)

Toronto Dominion Bank grew its position in CDW Co. (NASDAQ:CDW) by 1.0% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 75,704 shares of the information technology services provider’s stock after purchasing an additional 779 shares during the period. Toronto Dominion Bank’s holdings in CDW were worth $17,132,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in CDW. Coldstream Capital Management Inc. raised its position in CDW by 7.9% in the 3rd quarter. Coldstream Capital Management Inc. now owns 1,594 shares of the information technology services provider’s stock valued at $355,000 after purchasing an additional 117 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of CDW by 0.9% in the third quarter. Geode Capital Management LLC now owns 3,481,064 shares of the information technology services provider’s stock valued at $785,635,000 after buying an additional 31,858 shares in the last quarter. Foyston Gordon & Payne Inc raised its holdings in shares of CDW by 20.9% in the third quarter. Foyston Gordon & Payne Inc now owns 22,367 shares of the information technology services provider’s stock valued at $5,062,000 after buying an additional 3,859 shares during the last quarter. Vestcor Inc lifted its position in CDW by 4.0% during the 3rd quarter. Vestcor Inc now owns 9,329 shares of the information technology services provider’s stock worth $2,111,000 after buying an additional 362 shares in the last quarter. Finally, Barclays PLC grew its holdings in CDW by 0.3% during the 3rd quarter. Barclays PLC now owns 1,156,789 shares of the information technology services provider’s stock worth $261,779,000 after acquiring an additional 3,424 shares during the last quarter. Institutional investors own 93.15% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on CDW. Citigroup lowered shares of CDW from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $250.00 to $245.00 in a research report on Tuesday, October 1st. Barclays reduced their price objective on CDW from $229.00 to $201.00 and set an “equal weight” rating on the stock in a report on Thursday, October 31st. Redburn Atlantic initiated coverage on CDW in a research note on Friday, November 15th. They issued a “buy” rating and a $230.00 target price for the company. Finally, JPMorgan Chase & Co. lowered CDW from an “overweight” rating to a “neutral” rating and cut their price target for the company from $260.00 to $235.00 in a research note on Monday, October 28th. Three 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 company presently has a consensus rating of “Moderate Buy” and an average price target of $248.71.

CDW Stock Performance

Shares of CDW stock opened at $178.05 on Friday. The stock has a market cap of $23.73 billion, a PE ratio of 21.77, a price-to-earnings-growth ratio of 5.06 and a beta of 1.02. The stock has a 50-day moving average of $197.04 and a 200-day moving average of $213.89. The company has a debt-to-equity ratio of 2.39, a current ratio of 1.40 and a quick ratio of 1.28. CDW Co. has a one year low of $172.95 and a one year high of $263.37.

CDW (NASDAQ:CDW) last issued its earnings results on Wednesday, October 30th. The information technology services provider reported $2.63 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 the consensus estimate of $5.72 billion. CDW had a net margin of 5.33% and a return on equity of 58.31%. The firm’s revenue for the quarter was down 2.0% on a year-over-year basis. During the same period in the previous year, the company posted $2.60 EPS. As a group, sell-side analysts expect that CDW Co. will post 8.99 earnings per share for the current year.

CDW Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Monday, November 25th were issued a dividend of $0.625 per share. The ex-dividend date of this dividend was Monday, November 25th. This is a positive change from CDW’s previous quarterly dividend of $0.62. This represents a $2.50 annualized dividend and a yield of 1.40%. CDW’s payout ratio is currently 30.56%.

CDW 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.