Intact Investment Management Inc. Purchases New Position in CDW Co. (NASDAQ:CDW)

Intact Investment Management Inc. purchased a new position in shares of CDW Co. (NASDAQ:CDW) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 2,400 shares of the information technology services provider’s stock, valued at approximately $543,000.

Several other large investors have also modified their holdings of the business. ORG Partners LLC acquired a new stake in CDW during the second quarter worth approximately $34,000. Quest Partners LLC purchased a new stake in CDW during the 2nd quarter worth $35,000. Canoe Financial LP purchased a new stake in CDW during the 3rd quarter worth $37,000. Fortitude Family Office LLC increased its stake in CDW by 350.0% during the 3rd quarter. Fortitude Family Office LLC now owns 171 shares of the information technology services provider’s stock worth $39,000 after buying an additional 133 shares during the period. Finally, Summit Securities Group LLC acquired a new position in CDW during the 2nd quarter worth $40,000. 93.15% of the stock is currently owned by institutional investors and hedge funds.

CDW Stock Up 1.4 %

NASDAQ CDW opened at $191.10 on Tuesday. The company has a debt-to-equity ratio of 2.39, a current ratio of 1.40 and a quick ratio of 1.02. The company’s 50 day simple moving average is $219.30 and its 200 day simple moving average is $223.14. CDW Co. has a 12 month low of $187.73 and a 12 month high of $263.37. The company has a market capitalization of $25.47 billion, a P/E ratio of 23.36, a PEG ratio of 2.86 and a beta of 1.06.

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 the consensus estimate of $2.68 by ($0.05). The business had revenue of $5.52 billion during 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 business’s revenue was down 2.0% on a year-over-year basis. During the same period in the prior year, the firm earned $2.60 earnings per share. Equities research analysts expect that CDW Co. will post 9.38 earnings per share for the current fiscal year.

CDW Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Monday, November 25th will be issued a $0.625 dividend. This is a positive change from CDW’s previous quarterly dividend of $0.62. The ex-dividend date is Monday, November 25th. This represents a $2.50 annualized dividend and a dividend yield of 1.31%. CDW’s dividend payout ratio is presently 30.56%.

Analysts Set New Price Targets

CDW has been the subject of several research reports. Stifel Nicolaus lifted their price target on shares of CDW from $250.00 to $260.00 and gave the company a “buy” rating in a report on Wednesday, July 17th. Barclays reduced their target price on shares of CDW from $229.00 to $201.00 and set an “equal weight” rating for the company in a research note on Thursday, October 31st. JPMorgan Chase & Co. lowered shares of CDW from an “overweight” rating to a “neutral” rating and reduced their target price for the company from $260.00 to $235.00 in a research note on Monday, October 28th. Finally, Citigroup lowered shares of CDW from a “buy” rating to a “neutral” rating and reduced their target price for the company from $250.00 to $245.00 in a research note on Tuesday, October 1st. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, CDW currently has an average rating of “Hold” and an average target price of $246.71.

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.