CDW Co. (NASDAQ:CDW) Shares Bought by Eventide Asset Management LLC

Eventide Asset Management LLC increased its position in shares of CDW Co. (NASDAQ:CDW - Free Report) by 8.9% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 220,021 shares of the information technology services provider's stock after buying an additional 18,037 shares during the period. Eventide Asset Management LLC owned about 0.17% of CDW worth $49,791,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in CDW. ORG Partners LLC purchased a new stake in CDW during the 2nd quarter worth about $34,000. Quest Partners LLC purchased a new stake in CDW during the second quarter worth approximately $35,000. Canoe Financial LP purchased a new stake in CDW during the third quarter worth approximately $37,000. Fortitude Family Office LLC boosted 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 purchasing 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 approximately $40,000. Institutional investors and hedge funds own 93.15% of the company's stock.

Analysts Set New Price Targets

CDW has been the subject of several recent analyst reports. JPMorgan Chase & Co. downgraded shares of CDW from an "overweight" rating to a "neutral" rating and reduced their price objective for the stock from $260.00 to $235.00 in a research report on Monday, October 28th. Barclays reduced their price target on shares of CDW from $229.00 to $201.00 and set an "equal weight" rating for the company in a research report on Thursday, October 31st. Citigroup lowered CDW from a "buy" rating to a "neutral" rating and dropped their price objective for the stock from $250.00 to $245.00 in a report on Tuesday, October 1st. Finally, Redburn Atlantic started coverage on CDW in a report on Friday, November 15th. They issued a "buy" rating and a $230.00 target price for the company. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, CDW has an average rating of "Moderate Buy" and an average target price of $244.63.

CDW Stock Performance

Shares of CDW traded down $0.82 during mid-day trading on Friday, hitting $175.93. 958,009 shares of the company's stock were exchanged, compared to its average volume of 908,531. 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 Co. has a fifty-two week low of $172.95 and a fifty-two week high of $263.37. The business's 50 day moving average is $204.87 and its two-hundred day moving average is $216.92. The firm has a market capitalization of $23.45 billion, a P/E ratio of 21.51, a P/E/G ratio of 4.97 and a beta of 1.05.

CDW (NASDAQ:CDW - Get Free Report) last posted its quarterly earnings data 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). CDW had a return on equity of 58.31% and a net margin of 5.33%. The company had revenue of $5.52 billion for the quarter, compared to analyst estimates of $5.72 billion. During the same period in the previous year, the business posted $2.60 earnings per share. The firm's revenue was down 2.0% compared to the same quarter last year. On average, equities analysts expect that CDW Co. will post 8.99 earnings per share for the current year.

CDW Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Monday, November 25th will be paid a dividend of $0.625 per share. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.42%. This is a positive change from CDW's previous quarterly dividend of $0.62. The ex-dividend date of this dividend is Monday, November 25th. CDW's payout ratio is 30.56%.

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.