Holocene Advisors LP Makes New $172.22 Million Investment in CDW Co. (NASDAQ:CDW)

Holocene Advisors LP acquired a new stake in CDW Co. (NASDAQ:CDW) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 761,012 shares of the information technology services provider’s stock, valued at approximately $172,217,000. Holocene Advisors LP owned about 0.57% of CDW at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. ORG Partners LLC purchased a new stake in CDW in the 2nd quarter worth about $34,000. Quest Partners LLC bought a new stake in shares of CDW during the 2nd quarter worth approximately $35,000. Canoe Financial LP bought a new position in CDW in the 3rd quarter valued at $37,000. Fortitude Family Office LLC grew its position in CDW by 350.0% in the 3rd 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 stake in CDW in the second quarter worth $40,000. Hedge funds and other institutional investors own 93.15% of the company’s stock.

CDW Stock Performance

Shares of CDW stock opened at $175.93 on Monday. The company has a market capitalization of $23.44 billion, a PE ratio of 21.51, a P/E/G ratio of 4.94 and a beta of 1.05. The company has a 50-day simple moving average of $204.87 and a two-hundred day simple moving average of $216.84. CDW Co. has a one year low of $172.95 and a one year high of $263.37. 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 (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). The firm had revenue of $5.52 billion for 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%. The company’s revenue was down 2.0% compared to the same quarter last year. During the same quarter last year, the firm earned $2.60 EPS. Research analysts expect that CDW Co. will post 8.99 EPS for the current fiscal year.

CDW Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Monday, November 25th will be given a $0.625 dividend. This is a boost from CDW’s previous quarterly dividend of $0.62. The ex-dividend date is Monday, November 25th. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.42%. CDW’s dividend payout ratio (DPR) is presently 30.56%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Citigroup lowered shares of CDW from a “buy” rating to a “neutral” rating and lowered their target price for the company from $250.00 to $245.00 in a research note on Tuesday, October 1st. Barclays lowered their price objective on shares of CDW from $229.00 to $201.00 and set an “equal weight” rating for the company in a research report on Thursday, October 31st. JPMorgan Chase & Co. downgraded shares of CDW from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $260.00 to $235.00 in a research note on Monday, October 28th. Finally, 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 for the company. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price 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.