Assenagon Asset Management S.A. Has $758,000 Stock Holdings in CDW Co. (NASDAQ:CDW)

Assenagon Asset Management S.A. decreased its holdings in CDW Co. (NASDAQ:CDW - Free Report) by 97.6% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 3,350 shares of the information technology services provider's stock after selling 136,690 shares during the quarter. Assenagon Asset Management S.A.'s holdings in CDW were worth $758,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. Quest Partners LLC acquired a new position in CDW in the 2nd quarter worth approximately $35,000. ORG Partners LLC acquired a new position in CDW in the 2nd quarter worth approximately $34,000. Summit Securities Group LLC acquired a new position in CDW in the 2nd quarter worth approximately $40,000. Continuum Advisory LLC boosted its stake in CDW by 1,692.3% in the 2nd quarter. Continuum Advisory LLC now owns 233 shares of the information technology services provider's stock worth $52,000 after purchasing an additional 220 shares during the period. Finally, Kimelman & Baird LLC acquired a new position in CDW in the 2nd quarter worth approximately $56,000. Institutional investors and hedge funds own 93.15% of the company's stock.

Wall Street Analyst Weigh In

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

CDW Stock Up 0.1 %

Shares of CDW stock traded up $0.15 on Friday, hitting $188.38. The company's stock had a trading volume of 1,502,643 shares, compared to its average volume of 1,019,098. The company has a debt-to-equity ratio of 2.39, a current ratio of 1.40 and a quick ratio of 1.02. CDW Co. has a fifty-two week low of $187.73 and a fifty-two week high of $263.37. The firm's fifty day moving average price is $219.30 and its 200-day moving average price is $223.23. The stock has a market capitalization of $25.10 billion, a price-to-earnings ratio of 23.03, a P/E/G ratio of 2.86 and a beta of 1.06.

CDW (NASDAQ:CDW - Get Free Report) last released 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). CDW had a net margin of 5.33% and a return on equity of 58.31%. The business had revenue of $5.52 billion during the quarter, compared to analyst estimates of $5.72 billion. During the same period in the previous year, the firm posted $2.60 EPS. The firm's revenue for the quarter was down 2.0% on a year-over-year basis. Research analysts anticipate that CDW Co. will post 9.38 EPS for the current 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 $0.625 dividend. This represents a $2.50 annualized dividend and a dividend yield of 1.33%. The ex-dividend date is Monday, November 25th. This is a positive change from CDW's previous quarterly dividend of $0.62. CDW's payout ratio is presently 30.32%.

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.