Dynamic Technology Lab Private Ltd cut its stake in shares of CDW Co. (NASDAQ:CDW - Free Report) by 74.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 3,013 shares of the information technology services provider's stock after selling 8,897 shares during the period. Dynamic Technology Lab Private Ltd's holdings in CDW were worth $682,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently modified their holdings of CDW. Peak Financial Advisors LLC bought a new stake in CDW during the second quarter valued at approximately $2,854,000. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund bought a new stake in shares of CDW during the 3rd quarter valued at $12,761,000. Raymond James & Associates increased its stake in shares of CDW by 16.6% in the 2nd quarter. Raymond James & Associates now owns 139,711 shares of the information technology services provider's stock worth $31,273,000 after purchasing an additional 19,867 shares in the last quarter. Thrivent Financial for Lutherans raised its holdings in CDW by 12.8% in the 3rd quarter. Thrivent Financial for Lutherans now owns 599,900 shares of the information technology services provider's stock worth $135,758,000 after purchasing an additional 68,023 shares during the period. Finally, Boston Partners lifted its position in CDW by 1.9% during the first quarter. Boston Partners now owns 807,590 shares of the information technology services provider's stock valued at $206,519,000 after purchasing an additional 15,178 shares in the last quarter. 93.15% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
A number of analysts have commented on the company. JPMorgan Chase & Co. cut CDW from an "overweight" rating to a "neutral" rating and reduced their price target for the stock from $260.00 to $235.00 in a research report on Monday, October 28th. Barclays cut their price objective on CDW from $229.00 to $201.00 and set an "equal weight" rating for the company in a research note on Thursday, October 31st. Citigroup downgraded shares of CDW from a "buy" rating to a "neutral" rating and lowered their price target for the company from $250.00 to $245.00 in a report on Tuesday, October 1st. Finally, Redburn Atlantic started coverage on shares of CDW in a research report on Friday, November 15th. They issued a "buy" rating and a $230.00 price target for the company. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, CDW has a consensus rating of "Moderate Buy" and an average price target of $244.63.
View Our Latest Report on CDW
CDW Price Performance
Shares of CDW stock traded down $0.82 during mid-day trading on Friday, hitting $175.93. The company had a trading volume of 958,009 shares, compared to its average volume of 908,531. 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's 50 day moving average price is $205.86 and its 200-day moving average price is $217.24. CDW Co. has a 52-week low of $172.95 and a 52-week high of $263.37. The company 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 released its quarterly earnings data 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). The company had revenue of $5.52 billion for the quarter, compared to the consensus estimate of $5.72 billion. CDW had a net margin of 5.33% and a return on equity of 58.31%. The firm's revenue for the quarter was down 2.0% on a year-over-year basis. During the same period last year, the company earned $2.60 EPS. Equities research analysts forecast that CDW Co. will post 8.99 earnings per share for the current year.
CDW Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Monday, November 25th will be given a dividend of $0.625 per share. This is an increase from CDW's previous quarterly dividend of $0.62. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.42%. The ex-dividend date is Monday, November 25th. CDW's dividend payout ratio is currently 30.56%.
CDW Company Profile
(
Free Report)
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.
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