CDW Corporation $CDW Stock: Allspring Global Investments Holdings LLC Decreases Holdings

Key Points

• Allspring Global Investments cut its CDW stake by 24.9% in the third quarter, selling 776,769 shares. It still held about 2.34 million shares, worth roughly $318.5 million.
• CDW reported quarterly EPS of $3.26, beating the $2.98 consensus, and revenue of $6.75 billion, above estimates and up 17.7% year over year.
• CDW raised its quarterly dividend from $0.63 to $0.68 per share. Analysts cited in the article gave the stock a “Moderate Buy” consensus rating and an average price target of $167.38.

Allspring Global Investments Holdings LLC trimmed its holdings in shares of CDW Corporation (NASDAQ:CDW - Free Report) by 24.9% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,344,797 shares of the information technology services provider's stock after selling 776,769 shares during the quarter. Allspring Global Investments Holdings LLC owned about 1.88% of CDW worth $318,494,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. BlackRock Inc. acquired a new stake in CDW during the second quarter worth approximately $2,143,082,000. Pzena Investment Management LLC acquired a new stake in shares of CDW during the 2nd quarter worth $371,135,000. Jupiter Topco LLC acquired a new stake in shares of CDW during the 2nd quarter worth $300,073,000. Bank of America Corp DE acquired a new stake in shares of CDW during the 2nd quarter worth $255,058,000. Finally, Assenagon Asset Management S.A. increased its position in shares of CDW by 2,947.4% in the third quarter. Assenagon Asset Management S.A. now owns 1,757,584 shares of the information technology services provider's stock worth $225,252,000 after purchasing an additional 1,699,909 shares during the period. Institutional investors and hedge funds own 93.15% of the company's stock.

CDW Stock Performance

Shares of CDW stock opened at $157.00 on Monday. The stock's fifty day moving average price is $148.73 and its two-hundred day moving average price is $133.76. The company has a market cap of $19.60 billion, a PE ratio of 18.32, a P/E/G ratio of 1.39 and a beta of 0.92. CDW Corporation has a fifty-two week low of $97.12 and a fifty-two week high of $172.47. The company has a debt-to-equity ratio of 2.32, a quick ratio of 1.15 and a current ratio of 1.26.

CDW (NASDAQ:CDW - Get Free Report) last issued its quarterly earnings results on Wednesday, November 4th. The information technology services provider reported $3.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.98 by $0.28. CDW had a return on equity of 52.23% and a net margin of 4.48%. The company had revenue of $6.75 billion for the quarter, compared to analyst estimates of $6.19 billion. During the same quarter last year, the company posted $2.71 EPS. The company's revenue for the quarter was up 17.7% compared to the same quarter last year. Equities analysts predict that CDW Corporation will post 10.33 EPS for the current fiscal year.

CDW Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 10th. Investors of record on Wednesday, November 25th will be paid a $0.68 dividend. This represents a $2.72 annualized dividend and a yield of 1.7%. This is a boost from CDW's previous quarterly dividend of $0.63. The ex-dividend date of this dividend is Wednesday, November 25th. CDW's payout ratio is 29.40%.

Analysts Set New Price Targets

A number of research analysts recently commented on CDW shares. Weiss Ratings raised CDW from a "hold (c-)" rating to a "hold (c)" rating in a research note on Tuesday, August 25th. Barclays reduced their price objective on shares of CDW from $150.00 to $148.00 and set an "equal weight" rating on the stock in a research note on Monday, September 21st. UBS Group raised their target price on shares of CDW from $159.00 to $195.00 and gave the company a "buy" rating in a report on Thursday. JPMorgan Chase & Co. raised their target price on shares of CDW from $170.00 to $195.00 and gave the company an "overweight" rating in a report on Thursday. Finally, Citigroup boosted their target price on shares of CDW from $150.00 to $170.00 and gave the company a "neutral" rating in a research report on Thursday. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, CDW currently has a consensus rating of "Moderate Buy" and an average target price of $167.38.

Key Stories Impacting CDW

Here are the key news stories impacting CDW this week:

• Positive Sentiment: Q3 results beat expectations. CDW reported adjusted EPS of $3.26 versus the $2.98 consensus and revenue of $6.75 billion versus $6.19 billion, with sales up 17.7% year over year. The company also raised its gross-profit outlook and signaled low-double-digit 2026 adjusted EPS growth. CDW sees double-digit growth in third quarter
• Positive Sentiment: Analysts raised price targets. JPMorgan and UBS moved their targets to $195, while Citigroup raised its target to $170 and maintained a neutral rating. Northcoast Research also raised its target, to $204. The upgrades reinforce optimism following the results. Citigroup target change
• Positive Sentiment: CDW increased its dividend. The quarterly payout rose 7.9% to $0.68 per share, signaling stronger shareholder returns. CDW dividend increase and risks
• Neutral Sentiment: Lovelytics acquisition adds a growth opportunity and investment cost. CDW acquired the data and analytics firm for $525 million; the deal may broaden its capabilities, but investors will assess integration and returns. Lovelytics sale to CDW
• Negative Sentiment: Financial and valuation risks remain. Commentary has flagged rising debt and shrinking margins, while questions about whether the shares already reflect strong results could limit upside. Evercore ISI also removed CDW from its TAP Outperform list. CDW valuation, results and Lovelytics deal

About CDW

CDW Corporation is a provider of information technology products and services to businesses, government agencies, educational institutions and healthcare organizations. The company helps customers select, purchase, implement and manage technology solutions.

Its offerings include computers and other hardware, software, cloud services, cybersecurity, networking, data center infrastructure and collaboration tools. CDW also provides consulting, integration and ongoing technology support, helping customers plan and operate their IT environments.

Founded in 1984 as Computer Discount Warehouse, the company later adopted the CDW name.

Want to see what other hedge funds are holding CDW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for CDW Corporation (NASDAQ:CDW - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.