CDW Co. (NASDAQ:CDW) is Pragma Gestao DE Patrimonio Ltd.'s 3rd Largest Position

Pragma Gestao DE Patrimonio Ltd. lessened its stake in shares of CDW Co. (NASDAQ:CDW - Free Report) by 5.6% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 67,000 shares of the information technology services provider's stock after selling 4,000 shares during the period. CDW makes up approximately 7.8% of Pragma Gestao DE Patrimonio Ltd.'s holdings, making the stock its 3rd largest holding. Pragma Gestao DE Patrimonio Ltd. owned approximately 0.05% of CDW worth $15,162,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Quest Partners LLC bought a new position in CDW in the second quarter worth about $35,000. ORG Partners LLC acquired a new position in shares of CDW during the 2nd quarter worth approximately $34,000. Canoe Financial LP acquired a new position in shares of CDW during the 3rd quarter worth approximately $37,000. Fortitude Family Office LLC raised its stake in shares of CDW by 350.0% during the 3rd 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 period. Finally, Summit Securities Group LLC acquired a new position in CDW in the 2nd quarter valued at $40,000. Hedge funds and other institutional investors own 93.15% of the company's stock.

Analyst Upgrades and Downgrades

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

CDW Stock Performance

Shares of CDW stock traded down $3.03 during midday trading on Friday, hitting $199.87. The company had a trading volume of 936,038 shares, compared to its average volume of 1,199,236. The company's 50 day simple moving average is $216.50 and its 200 day simple moving average is $221.86. CDW Co. has a 52-week low of $187.73 and a 52-week high of $263.37. The stock has a market cap of $26.63 billion, a price-to-earnings ratio of 24.43, a PEG ratio of 5.66 and a beta of 1.05. 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 (NASDAQ:CDW - Get Free Report) last announced its earnings results on Wednesday, October 30th. The information technology services provider reported $2.63 earnings per share 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 company had revenue of $5.52 billion during the quarter, compared to analysts' expectations of $5.72 billion. During the same quarter last year, the business posted $2.60 earnings per share. The company's revenue for the quarter was down 2.0% compared to the same quarter last year. Research analysts anticipate that CDW Co. will post 9.05 earnings per share for the current fiscal year.

CDW Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Monday, November 25th will be issued a $0.625 dividend. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.25%. This is a boost 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 30.32%.

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.