Quantbot Technologies LP Acquires 4,376 Shares of CDW Co. (NASDAQ:CDW)

Quantbot Technologies LP lifted its holdings in shares of CDW Co. (NASDAQ:CDW) by 30.4% in the 3rd quarter, HoldingsChannel reports. The fund owned 18,764 shares of the information technology services provider’s stock after purchasing an additional 4,376 shares during the period. Quantbot Technologies LP’s holdings in CDW were worth $4,246,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in CDW. ORG Partners LLC purchased a new position in CDW during the second quarter worth about $34,000. Quest Partners LLC purchased a new position in CDW during the second quarter worth about $35,000. Canoe Financial LP purchased a new position in CDW during the third quarter worth about $37,000. Fortitude Family Office LLC boosted its stake in CDW by 350.0% in the third quarter. Fortitude Family Office LLC now owns 171 shares of the information technology services provider’s stock valued at $39,000 after acquiring an additional 133 shares during the last quarter. Finally, Summit Securities Group LLC purchased a new position in CDW in the second quarter valued at about $40,000. 93.15% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. JPMorgan Chase & Co. cut shares of CDW from an “overweight” rating to a “neutral” rating and dropped their target price for the company from $260.00 to $235.00 in a research note on Monday, October 28th. Citigroup cut shares of CDW from a “buy” rating to a “neutral” rating and dropped their target price for the company from $250.00 to $245.00 in a research note on Tuesday, October 1st. Redburn Atlantic assumed coverage on shares of CDW in a research note on Friday, November 15th. They set a “buy” rating and a $230.00 price target on the stock. Finally, Barclays dropped their price target on shares of CDW from $229.00 to $201.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 31st. Four 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, CDW currently has a consensus rating of “Moderate Buy” and an average target price of $244.63.

CDW Stock Performance

CDW stock opened at $177.80 on Wednesday. The firm’s 50 day simple moving average is $208.69 and its 200 day simple moving average is $218.12. The company has a current ratio of 1.40, a quick ratio of 1.28 and a debt-to-equity ratio of 2.39. The firm has a market capitalization of $23.69 billion, a PE ratio of 21.74, a price-to-earnings-growth ratio of 5.03 and a beta of 1.05. CDW Co. has a 1-year low of $172.95 and a 1-year high of $263.37.

CDW (NASDAQ:CDW) last issued its quarterly earnings results on Wednesday, October 30th. The information technology services provider reported $2.63 EPS for the quarter, missing analysts’ consensus estimates of $2.68 by ($0.05). The company had revenue of $5.52 billion during the quarter, compared to the consensus estimate of $5.72 billion. CDW had a return on equity of 58.31% and a net margin of 5.33%. CDW’s quarterly revenue was down 2.0% on a year-over-year basis. During the same period in the previous year, the company earned $2.60 EPS. As a group, analysts expect that CDW Co. will post 8.99 earnings per share for the current fiscal year.

CDW Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Monday, November 25th will be issued a $0.625 dividend. This is a positive change from CDW’s previous quarterly dividend of $0.62. The ex-dividend date of this dividend is Monday, November 25th. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.41%. CDW’s dividend payout ratio is presently 30.56%.

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.