LMR Partners LLP Takes $381,000 Position in CDW Co. (NASDAQ:CDW)

LMR Partners LLP acquired a new position in CDW Co. (NASDAQ:CDW) during the 3rd quarter, HoldingsChannel.com reports. The firm acquired 1,684 shares of the information technology services provider’s stock, valued at approximately $381,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Dimensional Fund Advisors LP increased its stake in CDW by 11.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,292,674 shares of the information technology services provider’s stock worth $289,357,000 after purchasing an additional 128,263 shares during the period. Lazard Asset Management LLC boosted its stake in shares of CDW by 225.9% during the first quarter. Lazard Asset Management LLC now owns 881,586 shares of the information technology services provider’s stock valued at $225,491,000 after purchasing an additional 611,054 shares during the period. Boston Partners grew its holdings in shares of CDW by 1.9% in the first quarter. Boston Partners now owns 807,590 shares of the information technology services provider’s stock worth $206,519,000 after purchasing an additional 15,178 shares during the last quarter. Perpetual Ltd purchased a new position in shares of CDW in the third quarter worth $158,300,000. Finally, Price T Rowe Associates Inc. MD raised its holdings in CDW by 46.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 620,190 shares of the information technology services provider’s stock valued at $158,634,000 after buying an additional 195,951 shares during the last quarter. Institutional investors own 93.15% of the company’s stock.

CDW Stock Performance

Shares of CDW stock opened at $175.99 on Thursday. The business has a fifty day simple moving average of $211.13 and a two-hundred day simple moving average of $219.03. The firm has a market capitalization of $23.45 billion, a P/E ratio of 21.51, a P/E/G ratio of 4.96 and a beta of 1.05. The company has a current ratio of 1.40, a quick ratio of 1.28 and a debt-to-equity ratio of 2.39. CDW Co. has a 12 month low of $172.95 and a 12 month high of $263.37.

CDW (NASDAQ:CDW) last posted its quarterly earnings data 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 return on equity of 58.31% and a net margin of 5.33%. The business had revenue of $5.52 billion for the quarter, compared to the consensus estimate of $5.72 billion. During the same period in the previous year, the firm earned $2.60 EPS. The company’s revenue was down 2.0% on a year-over-year basis. On average, equities analysts forecast that CDW Co. will post 9.05 earnings per share for the current fiscal year.

CDW Increases Dividend

The business also recently announced 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. This represents a $2.50 annualized dividend and a yield of 1.42%. This is an increase from CDW’s previous quarterly dividend of $0.62. The ex-dividend date of this dividend is Monday, November 25th. CDW’s payout ratio is 30.32%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. Citigroup cut shares of CDW from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $250.00 to $245.00 in a research report on Tuesday, October 1st. Redburn Atlantic began coverage on CDW in a research report on Friday, November 15th. They set a “buy” rating and a $230.00 price target for the company. JPMorgan Chase & Co. lowered CDW from an “overweight” rating to a “neutral” rating and cut their price objective for the stock from $260.00 to $235.00 in a research report on Monday, October 28th. Finally, Barclays decreased their target price on CDW from $229.00 to $201.00 and set an “equal weight” rating for the company in a 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. Based on data from MarketBeat, CDW presently has a consensus rating of “Moderate Buy” and a consensus price target of $244.63.

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.