CDW Co. (NASDAQ:CDW) Shares Bought by Edgestream Partners L.P.

Edgestream Partners L.P. boosted its position in shares of CDW Co. (NASDAQ:CDW - Free Report) by 285.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 18,861 shares of the information technology services provider's stock after buying an additional 13,962 shares during the period. Edgestream Partners L.P.'s holdings in CDW were worth $4,268,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Quest Partners LLC acquired a new position in shares of CDW in the 2nd quarter valued at $35,000. ORG Partners LLC purchased a new stake in shares of CDW in the second quarter valued at about $34,000. Canoe Financial LP purchased a new stake in shares of CDW in the third quarter valued at about $37,000. Fortitude Family Office LLC grew its holdings in shares of CDW by 350.0% during the third quarter. Fortitude Family Office LLC now owns 171 shares of the information technology services provider's stock worth $39,000 after buying an additional 133 shares during the last quarter. Finally, Summit Securities Group LLC acquired a new position in CDW in the 2nd quarter valued at about $40,000. Hedge funds and other institutional investors own 93.15% of the company's stock.

CDW Price Performance

Shares of NASDAQ CDW traded down $0.82 during trading on Friday, hitting $175.93. 958,009 shares of the company were exchanged, compared to its average volume of 1,600,769. The firm's fifty day moving average price is $204.87 and its 200 day moving average price is $216.89. The company has a debt-to-equity ratio of 2.39, a current ratio of 1.40 and a quick ratio of 1.28. The company has a market cap of $23.44 billion, a price-to-earnings ratio of 21.51, a PEG ratio of 4.94 and a beta of 1.05. CDW Co. has a 1 year low of $172.95 and a 1 year high of $263.37.

CDW (NASDAQ:CDW - Get Free Report) last posted its earnings results on Wednesday, October 30th. The information technology services provider reported $2.63 EPS 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 firm had revenue of $5.52 billion for the quarter, compared to analysts' expectations of $5.72 billion. During the same quarter in the previous year, the firm posted $2.60 earnings per share. The firm's revenue for the quarter was down 2.0% compared to the same quarter last year. On average, sell-side analysts expect that CDW Co. will post 8.99 earnings per share for the current fiscal year.

CDW Increases Dividend

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

Wall Street Analysts Forecast Growth

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

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.