CDW Co. (NASDAQ:CDW) Shares Sold by Martingale Asset Management L P

Martingale Asset Management L P reduced its stake in shares of CDW Co. (NASDAQ:CDW - Free Report) by 45.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 23,347 shares of the information technology services provider's stock after selling 19,163 shares during the quarter. Martingale Asset Management L P's holdings in CDW were worth $5,283,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. ORG Partners LLC purchased a new position in shares of CDW during the 2nd quarter worth about $34,000. Quest Partners LLC bought a new stake in CDW in the second quarter worth about $35,000. Canoe Financial LP purchased a new position in shares of CDW during the third quarter valued at approximately $37,000. Fortitude Family Office LLC grew its stake 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 valued at $39,000 after buying 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. 93.15% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CDW has been the subject of a number of recent analyst reports. Citigroup cut CDW from a "buy" rating to a "neutral" rating and dropped their price objective for the company from $250.00 to $245.00 in a report on Tuesday, October 1st. Redburn Atlantic began coverage on shares of CDW in a research note on Friday, November 15th. They set a "buy" rating and a $230.00 target price for the company. JPMorgan Chase & Co. downgraded shares of 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 note on Monday, October 28th. Finally, Barclays lowered their price objective on shares of CDW from $229.00 to $201.00 and set an "equal weight" rating for the company in a research report on Thursday, October 31st. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $244.63.

CDW Stock Down 0.5 %

CDW stock traded down $0.82 during midday trading on Friday, hitting $175.93. 958,009 shares of the company's stock were exchanged, compared to its average volume of 908,531. The company has a market cap of $23.45 billion, a PE ratio of 21.51, a P/E/G ratio of 4.97 and a beta of 1.05. The firm has a 50-day moving average of $204.87 and a two-hundred day moving average of $216.92. The company has a debt-to-equity ratio of 2.39, a quick ratio of 1.28 and a current ratio of 1.40. CDW Co. has a 12 month low of $172.95 and a 12 month high of $263.37.

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 firm had revenue of $5.52 billion during the quarter, compared to analyst estimates of $5.72 billion. CDW had a return on equity of 58.31% and a net margin of 5.33%. The company's quarterly revenue was down 2.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.60 earnings per share. As a group, analysts expect that CDW Co. will post 8.99 earnings per share for the current fiscal year.

CDW Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Monday, November 25th will be issued 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 (DPR) is presently 30.56%.

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.