Dynamic Technology Lab Private Ltd Trims Stake in CDW Co. (NASDAQ:CDW)

Dynamic Technology Lab Private Ltd lessened its holdings in shares of CDW Co. (NASDAQ:CDW) by 74.7% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 3,013 shares of the information technology services provider’s stock after selling 8,897 shares during the quarter. Dynamic Technology Lab Private Ltd’s holdings in CDW were worth $682,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the business. LRI Investments LLC purchased a new position in CDW in the 1st quarter worth about $68,000. Swedbank AB bought a new position in CDW in the 1st quarter worth about $13,095,000. Atria Investments Inc increased its position in shares of CDW by 7.0% during the first quarter. Atria Investments Inc now owns 16,603 shares of the information technology services provider’s stock worth $4,247,000 after acquiring an additional 1,084 shares during the period. Cetera Investment Advisers raised its stake in shares of CDW by 165.3% during the first quarter. Cetera Investment Advisers now owns 9,665 shares of the information technology services provider’s stock valued at $2,472,000 after acquiring an additional 6,022 shares in the last quarter. Finally, Cetera Advisors LLC boosted its holdings in shares of CDW by 27.7% in the first quarter. Cetera Advisors LLC now owns 2,016 shares of the information technology services provider’s stock valued at $516,000 after purchasing an additional 437 shares during the period. Institutional investors own 93.15% of the company’s stock.

CDW Stock Performance

CDW stock opened at $176.75 on Friday. The firm has a 50-day simple moving average of $206.88 and a two-hundred day simple moving average of $217.52. The company has a debt-to-equity ratio of 2.39, a quick ratio of 1.28 and a current ratio of 1.40. CDW Co. has a one year low of $172.95 and a one year high of $263.37. The firm has a market cap of $23.55 billion, a price-to-earnings ratio of 21.61, a PEG ratio of 5.10 and a beta of 1.05.

CDW (NASDAQ:CDW) last posted its 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). CDW had a net margin of 5.33% and a return on equity of 58.31%. The firm had revenue of $5.52 billion for the quarter, compared to analysts’ expectations of $5.72 billion. During the same period in the previous year, the company 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 8.99 EPS for the current fiscal year.

CDW Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Monday, November 25th will be paid a dividend of $0.625 per share. This represents a $2.50 annualized dividend and a yield of 1.41%. This is an increase from CDW’s previous quarterly dividend of $0.62. The ex-dividend date is Monday, November 25th. CDW’s payout ratio is 30.56%.

Analyst Ratings Changes

Several research firms have commented on CDW. Redburn Atlantic began coverage on CDW in a report on Friday, November 15th. They set a “buy” rating and a $230.00 price objective on the stock. Barclays cut their price target on CDW from $229.00 to $201.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 31st. Citigroup cut shares of CDW from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $250.00 to $245.00 in a report on Tuesday, October 1st. Finally, JPMorgan Chase & Co. lowered shares of CDW from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $260.00 to $235.00 in a report on Monday, October 28th. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus 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.