CDW Co. (NASDAQ:CDW) Shares Bought by Healthcare of Ontario Pension Plan Trust Fund

Healthcare of Ontario Pension Plan Trust Fund increased its stake in CDW Co. (NASDAQ:CDW - Free Report) by 667.9% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 95,393 shares of the information technology services provider's stock after buying an additional 82,970 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund owned about 0.07% of CDW worth $21,587,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of the stock. RDA Financial Network boosted its position in CDW by 3.0% in the 2nd quarter. RDA Financial Network now owns 1,587 shares of the information technology services provider's stock valued at $355,000 after buying an additional 46 shares during the last quarter. PDS Planning Inc boosted its holdings in CDW by 4.3% in the third quarter. PDS Planning Inc now owns 1,186 shares of the information technology services provider's stock valued at $268,000 after purchasing an additional 49 shares during the last quarter. Oregon Public Employees Retirement Fund increased its holdings in CDW by 0.5% during the 2nd 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 during the last quarter. Profund Advisors LLC increased its holdings in CDW by 0.5% during the 2nd 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 during the last quarter. Finally, OneAscent Wealth Management LLC raised its position in shares of CDW by 2.5% in the 3rd quarter. OneAscent Wealth Management LLC now owns 2,387 shares of the information technology services provider's stock valued at $540,000 after purchasing an additional 58 shares in the last quarter. 93.15% of the stock is currently owned by hedge funds and other institutional investors.

CDW Stock Performance

NASDAQ CDW traded down $0.82 on Friday, hitting $175.93. The stock had a trading volume of 958,009 shares, compared to its average volume of 908,531. The company's 50-day moving average is $205.86 and its two-hundred day moving average is $217.24. The stock has a market cap of $23.44 billion, a price-to-earnings ratio of 21.61, a P/E/G ratio of 4.97 and a beta of 1.05. The company has a quick ratio of 1.28, a current ratio of 1.40 and a debt-to-equity ratio of 2.39. CDW Co. has a one year low of $172.95 and a one year high of $263.37.

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 business had revenue of $5.52 billion for the quarter, compared to the consensus estimate of $5.72 billion. During the same period in the previous year, the firm earned $2.60 EPS. The firm's revenue was down 2.0% on a year-over-year basis. On average, analysts expect 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. Shareholders of record on Monday, November 25th will be given a $0.625 dividend. This represents a $2.50 dividend on an annualized basis and a yield of 1.42%. This is an increase from CDW's previous quarterly dividend of $0.62. The ex-dividend date is Monday, November 25th. CDW's dividend payout ratio is 30.56%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on CDW. Barclays decreased their price objective on shares of CDW from $229.00 to $201.00 and set an "equal weight" rating for the company in a report on Thursday, October 31st. JPMorgan Chase & Co. cut CDW from an "overweight" rating to a "neutral" rating and cut their price objective for the company from $260.00 to $235.00 in a research note on Monday, October 28th. Citigroup downgraded 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 initiated coverage on CDW in a research note on Friday, November 15th. They set a "buy" rating and a $230.00 price objective on the stock. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, CDW currently has an average rating of "Moderate Buy" and a consensus price target of $244.63.

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.