Quantinno Capital Management LP Buys 5,859 Shares of CDW Co. (NASDAQ:CDW)

Quantinno Capital Management LP raised its position in CDW Co. (NASDAQ:CDW - Free Report) by 22.8% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 31,533 shares of the information technology services provider's stock after buying an additional 5,859 shares during the period. Quantinno Capital Management LP's holdings in CDW were worth $7,136,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Peak Financial Advisors LLC purchased a new stake in CDW in the 2nd quarter valued at about $2,854,000. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund purchased a new stake in shares of CDW during the 3rd quarter worth approximately $12,761,000. Raymond James & Associates increased its stake in shares of CDW by 16.6% during the 2nd quarter. Raymond James & Associates now owns 139,711 shares of the information technology services provider's stock worth $31,273,000 after purchasing an additional 19,867 shares during the last quarter. Thrivent Financial for Lutherans increased its stake in shares of CDW by 12.8% during the 3rd quarter. Thrivent Financial for Lutherans now owns 599,900 shares of the information technology services provider's stock worth $135,758,000 after purchasing an additional 68,023 shares during the last quarter. Finally, Exchange Traded Concepts LLC increased its stake in shares of CDW by 50.7% during the 3rd quarter. Exchange Traded Concepts LLC now owns 2,398 shares of the information technology services provider's stock worth $543,000 after purchasing an additional 807 shares during the last quarter. Hedge funds and other institutional investors own 93.15% of the company's stock.

CDW Price Performance

NASDAQ:CDW traded up $1.76 during trading hours on Friday, hitting $180.06. The stock had a trading volume of 970,594 shares, compared to its average volume of 1,553,574. The company has a 50 day simple moving average of $200.31 and a two-hundred day simple moving average of $215.36. The company has a debt-to-equity ratio of 2.39, a current ratio of 1.40 and a quick ratio of 1.28. CDW Co. has a one year low of $172.95 and a one year high of $263.37. The firm has a market capitalization of $24.00 billion, a price-to-earnings ratio of 22.01, a P/E/G ratio of 5.01 and a beta of 1.02.

CDW (NASDAQ:CDW - Get Free Report) last announced its quarterly earnings results on Wednesday, October 30th. The information technology services provider reported $2.63 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 firm had revenue of $5.52 billion during the quarter, compared to the consensus estimate of $5.72 billion. During the same period in the previous year, the business earned $2.60 earnings per share. The firm's revenue for the quarter was down 2.0% on a year-over-year basis. Research analysts forecast that CDW Co. will post 8.99 earnings per share for the current fiscal year.

CDW Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Monday, November 25th will be issued a dividend of $0.625 per share. This is an increase from CDW's previous quarterly dividend of $0.62. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.39%. The ex-dividend date is Monday, November 25th. CDW's payout ratio is currently 30.56%.

Analyst Ratings Changes

CDW has been the subject of several research analyst reports. JPMorgan Chase & Co. lowered shares of CDW from an "overweight" rating to a "neutral" rating and decreased their price target for the stock from $260.00 to $235.00 in a research note on Monday, October 28th. Redburn Atlantic initiated coverage on shares of CDW in a research note on Friday, November 15th. They set a "buy" rating and a $230.00 price target for the company. Barclays decreased their price target 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, October 31st. Finally, Citigroup downgraded shares of CDW from a "buy" rating to a "neutral" rating and cut their price objective for the stock from $250.00 to $245.00 in a report on Tuesday, October 1st. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, CDW currently has an average rating of "Moderate Buy" and an average target price of $244.63.

CDW Company 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.