Atomi Financial Group Inc. Raises Position in CDW Co. (NASDAQ:CDW)

Atomi Financial Group Inc. raised its stake in shares of CDW Co. (NASDAQ:CDW) by 9.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,370 shares of the information technology services provider’s stock after purchasing an additional 119 shares during the period. Atomi Financial Group Inc.’s holdings in CDW were worth $238,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in CDW. Massachusetts Financial Services Co. MA purchased a new stake in CDW during the third quarter valued at approximately $416,111,000. Janus Henderson Group PLC raised its holdings in shares of CDW by 7,029.1% in the third quarter. Janus Henderson Group PLC now owns 1,466,597 shares of the information technology services provider’s stock worth $331,891,000 after buying an additional 1,446,025 shares during the period. Holocene Advisors LP purchased a new stake in shares of CDW in the third quarter worth approximately $172,217,000. Perpetual Ltd purchased a new stake in shares of CDW in the third quarter worth approximately $158,300,000. Finally, Assenagon Asset Management S.A. raised its holdings in shares of CDW by 7,549.9% in the fourth quarter. Assenagon Asset Management S.A. now owns 256,271 shares of the information technology services provider’s stock worth $44,601,000 after buying an additional 252,921 shares during the period. 93.15% of the stock is currently owned by hedge funds and other institutional investors.

CDW Stock Down 1.2 %

Shares of NASDAQ CDW opened at $195.13 on Monday. 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 stock has a market capitalization of $26.00 billion, a PE ratio of 23.85, a price-to-earnings-growth ratio of 5.26 and a beta of 1.01. The stock’s fifty day simple moving average is $179.79 and its two-hundred day simple moving average is $204.35. CDW Co. has a 12-month low of $168.43 and a 12-month high of $263.37.

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

CDW Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Monday, November 25th were given a dividend of $0.625 per share. This represents a $2.50 annualized dividend and a yield of 1.28%. The ex-dividend date of this dividend was Monday, November 25th. This is a boost from CDW’s previous quarterly dividend of $0.62. CDW’s dividend payout ratio (DPR) is 30.56%.

Analyst Ratings Changes

Several brokerages have recently weighed in on CDW. UBS Group reduced their price target on CDW from $233.00 to $220.00 and set a “buy” rating on the stock in a report on Tuesday, January 7th. Citigroup cut CDW from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $250.00 to $245.00 in a research note on Tuesday, October 1st. Barclays dropped their price objective 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. Redburn Atlantic assumed coverage on CDW in a research note on Friday, November 15th. They issued a “buy” rating and a $230.00 price objective on the stock. Finally, JPMorgan Chase & Co. cut CDW from an “overweight” rating to a “neutral” rating and dropped their price objective for the stock from $260.00 to $235.00 in a research note on Monday, October 28th. Four analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, CDW has an average rating of “Moderate Buy” and an average price target of $239.33.

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.