iA Global Asset Management Inc. Decreases Stock Position in CDW Co. (NASDAQ:CDW)

iA Global Asset Management Inc. decreased its holdings in shares of CDW Co. (NASDAQ:CDW - Free Report) by 82.0% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,616 shares of the information technology services provider's stock after selling 61,829 shares during the period. iA Global Asset Management Inc.'s holdings in CDW were worth $3,081,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Quest Partners LLC bought a new position in CDW in the second quarter worth approximately $35,000. ORG Partners LLC purchased a new stake in shares of CDW in the second quarter worth approximately $34,000. Canoe Financial LP purchased a new stake in shares of CDW in the third quarter worth approximately $37,000. Fortitude Family Office LLC raised its stake in shares of CDW by 350.0% in the third quarter. Fortitude Family Office LLC now owns 171 shares of the information technology services provider's stock worth $39,000 after purchasing an additional 133 shares during the last quarter. Finally, Summit Securities Group LLC purchased a new stake in shares of CDW in the second quarter worth approximately $40,000. Institutional investors own 93.15% of the company's stock.

CDW Stock Performance

Shares of CDW stock traded up $2.40 during trading hours on Monday, reaching $182.46. The company had a trading volume of 1,705,046 shares, compared to its average volume of 918,234. CDW Co. has a one year low of $172.95 and a one year high of $263.37. The business has a fifty day simple moving average of $200.31 and a 200 day simple moving average of $215.11. 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 firm has a market cap of $24.31 billion, a PE ratio of 22.01, a price-to-earnings-growth ratio of 5.06 and a beta of 1.02.

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 (EPS) for the quarter, missing the consensus estimate of $2.68 by ($0.05). The business 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%. CDW's quarterly revenue was down 2.0% on a year-over-year basis. During the same period in the prior year, the business posted $2.60 EPS. On average, analysts anticipate that CDW Co. will post 8.99 earnings per share for the current fiscal year.

CDW Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Monday, November 25th will be paid a dividend of $0.625 per share. This is a positive change from CDW's previous quarterly dividend of $0.62. The ex-dividend date is Monday, November 25th. This represents a $2.50 annualized dividend and a yield of 1.37%. CDW's dividend payout ratio (DPR) is currently 30.56%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. Citigroup downgraded CDW from a "buy" rating to a "neutral" rating and lowered their price objective for the stock from $250.00 to $245.00 in a research note on Tuesday, October 1st. Redburn Atlantic started coverage on CDW in a research report on Friday, November 15th. They set a "buy" rating and a $230.00 price target for the company. Barclays decreased their price target 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. Finally, JPMorgan Chase & Co. downgraded CDW from an "overweight" rating to a "neutral" rating and decreased their price target for the company from $260.00 to $235.00 in a research report on Monday, October 28th. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price 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.