QRG Capital Management Inc. Sells 27,291 Shares of CDW Co. (NASDAQ:CDW)

QRG Capital Management Inc. lowered its stake in shares of CDW Co. (NASDAQ:CDW - Free Report) by 49.3% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 28,015 shares of the information technology services provider's stock after selling 27,291 shares during the quarter. QRG Capital Management Inc.'s holdings in CDW were worth $6,340,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in CDW. National Pension Service lifted its position in CDW by 0.9% in the 3rd quarter. National Pension Service now owns 207,541 shares of the information technology services provider's stock worth $46,967,000 after buying an additional 1,796 shares during the last quarter. Intact Investment Management Inc. purchased a new stake in shares of CDW in the 3rd quarter valued at $543,000. Van ECK Associates Corp grew its holdings in shares of CDW by 11.0% during the 3rd quarter. Van ECK Associates Corp now owns 24,619 shares of the information technology services provider's stock valued at $5,358,000 after purchasing an additional 2,441 shares during the last quarter. Princeton Global Asset Management LLC raised its position in CDW by 2.9% in the 3rd quarter. Princeton Global Asset Management LLC now owns 13,245 shares of the information technology services provider's stock worth $2,997,000 after purchasing an additional 379 shares during the period. Finally, Ceredex Value Advisors LLC lifted its stake in CDW by 22.7% in the third quarter. Ceredex Value Advisors LLC now owns 436,034 shares of the information technology services provider's stock worth $98,674,000 after purchasing an additional 80,650 shares during the last quarter. 93.15% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently commented on CDW. Citigroup downgraded shares of CDW from a "buy" rating to a "neutral" rating and lowered their price objective for the company from $250.00 to $245.00 in a research note on Tuesday, October 1st. JPMorgan Chase & Co. cut CDW from an "overweight" rating to a "neutral" rating and reduced their target price for the company from $260.00 to $235.00 in a research note on Monday, October 28th. Barclays cut their price target on shares of CDW from $229.00 to $201.00 and set an "equal weight" rating on the stock in a report on Thursday, October 31st. Finally, Stifel Nicolaus increased their price target 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. Four analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $246.71.

CDW Trading Up 5.4 %

NASDAQ:CDW traded up $10.33 during mid-day trading on Wednesday, hitting $203.32. 1,241,953 shares of the stock traded hands, compared to its average volume of 846,667. The company has a quick ratio of 1.28, a current ratio of 1.40 and a debt-to-equity ratio of 2.39. The stock has a market capitalization of $27.09 billion, a price-to-earnings ratio of 23.59, a PEG ratio of 5.07 and a beta of 1.05. CDW Co. has a 52 week low of $187.73 and a 52 week high of $263.37. The firm's 50 day moving average is $217.85 and its two-hundred day moving average is $222.52.

CDW (NASDAQ:CDW - Get Free Report) last issued its earnings results on Wednesday, October 30th. The information technology services provider reported $2.63 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.68 by ($0.05). CDW had a net margin of 5.33% and a return on equity of 58.31%. The company had revenue of $5.52 billion for the quarter, compared to analysts' expectations of $5.72 billion. During the same period in the prior year, the firm posted $2.60 earnings per share. The firm's revenue for the quarter was down 2.0% compared to the same quarter last year. On average, equities research analysts predict that CDW Co. will post 9.38 earnings per share for the current year.

CDW Increases Dividend

The company also recently declared 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. The ex-dividend date is Monday, November 25th. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.23%. CDW's dividend 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.