Aigen Investment Management LP Invests $803,000 in CDW Co. (NASDAQ:CDW)

Aigen Investment Management LP bought a new position in shares of CDW Co. (NASDAQ:CDW - Free Report) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 3,549 shares of the information technology services provider's stock, valued at approximately $803,000.

A number of other hedge funds also recently bought and sold shares of the stock. RDA Financial Network lifted its holdings in CDW by 3.0% during the second quarter. RDA Financial Network now owns 1,587 shares of the information technology services provider's stock worth $355,000 after buying an additional 46 shares during the period. PDS Planning Inc increased its position in shares of CDW by 4.3% during the third quarter. PDS Planning Inc now owns 1,186 shares of the information technology services provider's stock worth $268,000 after purchasing an additional 49 shares in the last quarter. Oregon Public Employees Retirement Fund increased its position in shares of CDW by 0.5% during the second quarter. Oregon Public Employees Retirement Fund now owns 11,541 shares of the information technology services provider's stock worth $2,583,000 after purchasing an additional 54 shares in the last quarter. Profund Advisors LLC increased its position in shares of CDW by 0.5% during the second quarter. Profund Advisors LLC now owns 12,469 shares of the information technology services provider's stock worth $2,791,000 after purchasing an additional 58 shares in the last quarter. Finally, Elo Mutual Pension Insurance Co increased its position in shares of CDW by 0.5% during the second quarter. Elo Mutual Pension Insurance Co now owns 12,301 shares of the information technology services provider's stock worth $2,753,000 after purchasing an additional 61 shares in the last quarter. Hedge funds and other institutional investors own 93.15% of the company's stock.

CDW Stock Performance

NASDAQ:CDW traded down $5.90 during mid-day trading on Wednesday, hitting $186.01. The company's stock had a trading volume of 2,534,959 shares, compared to its average volume of 866,184. CDW Co. has a 1 year low of $185.70 and a 1 year high of $263.37. The company has a debt-to-equity ratio of 2.39, a current ratio of 1.40 and a quick ratio of 1.28. The stock has a market cap of $24.79 billion, a price-to-earnings ratio of 22.74, a PEG ratio of 5.35 and a beta of 1.05. The business's fifty day moving average is $214.86 and its two-hundred day moving average is $220.81.

CDW (NASDAQ:CDW - Get Free Report) last posted its quarterly 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). CDW had a net margin of 5.33% and a return on equity of 58.31%. The business had revenue of $5.52 billion during the quarter, compared to analysts' expectations of $5.72 billion. During the same period in the previous year, the company posted $2.60 earnings per share. CDW's revenue for the quarter was down 2.0% compared to the same quarter last year. Analysts anticipate that CDW Co. will post 9.05 EPS for the current fiscal year.

CDW Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Monday, November 25th will be issued a $0.625 dividend. This represents a $2.50 annualized dividend and a yield of 1.34%. This is a positive change from CDW's previous quarterly dividend of $0.62. The ex-dividend date is Monday, November 25th. CDW's dividend payout ratio is presently 30.32%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on CDW shares. Stifel Nicolaus upped their price target on CDW from $250.00 to $260.00 and gave the stock a "buy" rating in a research report on Wednesday, July 17th. Citigroup downgraded CDW from a "buy" rating to a "neutral" rating and reduced their price target for the stock from $250.00 to $245.00 in a research report on Tuesday, October 1st. Barclays cut their target price on CDW from $229.00 to $201.00 and set an "equal weight" rating on the stock in a research report on Thursday, October 31st. Finally, JPMorgan Chase & Co. downgraded CDW from an "overweight" rating to a "neutral" rating and cut their target price for the company from $260.00 to $235.00 in a research report on Monday, October 28th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, CDW presently has an average rating of "Hold" and an average target price of $246.71.

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.