Intech Investment Management LLC Reduces Stock Holdings in CDW Co. (NASDAQ:CDW)

Intech Investment Management LLC trimmed its holdings in CDW Co. (NASDAQ:CDW) by 5.6% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 9,770 shares of the information technology services provider’s stock after selling 576 shares during the period. Intech Investment Management LLC’s holdings in CDW were worth $2,211,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CDW. ORG Partners LLC acquired a new stake in CDW in the 2nd quarter worth about $34,000. Quest Partners LLC purchased a new stake in shares of CDW during the 2nd quarter worth about $35,000. Canoe Financial LP acquired a new position in CDW during the third quarter valued at approximately $37,000. Fortitude Family Office LLC increased its position in shares of CDW by 350.0% in the third quarter. Fortitude Family Office LLC now owns 171 shares of the information technology services provider’s stock worth $39,000 after acquiring an additional 133 shares in the last quarter. Finally, Summit Securities Group LLC acquired a new position in shares of CDW during the 2nd quarter valued at $40,000. Institutional investors and hedge funds own 93.15% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. JPMorgan Chase & Co. lowered CDW from an “overweight” rating to a “neutral” rating and lowered 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 reduced their target price for the stock from $250.00 to $245.00 in a research report on Tuesday, October 1st. Redburn Atlantic started 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 decreased 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. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, CDW has a consensus rating of “Moderate Buy” and an average target price of $244.63.

CDW Stock Performance

Shares of CDW opened at $178.96 on Monday. CDW Co. has a 12-month low of $172.95 and a 12-month high of $263.37. The stock has a market capitalization of $23.85 billion, a P/E ratio of 21.88, a P/E/G ratio of 4.97 and a beta of 1.05. The firm’s 50 day moving average is $209.49 and its 200-day moving average is $218.42. The company has a debt-to-equity ratio of 2.39, a current ratio of 1.40 and a quick ratio of 1.28.

CDW (NASDAQ:CDW) last posted its quarterly 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 during 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%. CDW’s quarterly revenue was down 2.0% on a year-over-year basis. During the same period in the prior year, the company posted $2.60 EPS. Equities research analysts anticipate that CDW Co. will post 9.05 EPS for the current fiscal year.

CDW Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Monday, November 25th will be issued a dividend of $0.625 per share. This represents a $2.50 annualized dividend and a yield of 1.40%. The ex-dividend date is Monday, November 25th. This is an increase from CDW’s previous quarterly dividend of $0.62. CDW’s payout ratio is presently 30.32%.

CDW 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.