Ontario Teachers Pension Plan Board Sells 5,768 Shares of CDW Co. (NASDAQ:CDW)

Ontario Teachers Pension Plan Board reduced its position in CDW Co. (NASDAQ:CDW) by 53.4% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 5,034 shares of the information technology services provider’s stock after selling 5,768 shares during the quarter. Ontario Teachers Pension Plan Board’s holdings in CDW were worth $1,139,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of CDW. ORG Partners LLC acquired a new position in CDW during the second quarter worth $34,000. Quest Partners LLC acquired a new position in CDW during the second quarter worth $35,000. Canoe Financial LP acquired a new position in CDW during the third quarter worth $37,000. Fortitude Family Office LLC grew its stake in shares of CDW by 350.0% in the 3rd 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 bought a new stake in shares of CDW in the 2nd quarter worth $40,000. 93.15% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on CDW. JPMorgan Chase & Co. lowered shares of CDW from an “overweight” rating to a “neutral” rating and reduced their target price for the stock from $260.00 to $235.00 in a research note on Monday, October 28th. 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. Citigroup lowered 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 note on Tuesday, October 1st. Finally, Redburn Atlantic initiated coverage on shares of CDW in a research report on Friday, November 15th. They set a “buy” rating and a $230.00 price target for the company. Four analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $244.63.

CDW Trading Up 1.1 %

Shares of CDW stock opened at $175.99 on Thursday. CDW Co. has a 12-month low of $172.95 and a 12-month high of $263.37. The company has a market cap of $23.45 billion, a price-to-earnings ratio of 21.51, a PEG ratio of 4.96 and a beta of 1.05. 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 company’s 50-day moving average price is $211.13 and its 200-day moving average price is $219.03.

CDW (NASDAQ:CDW) last announced its quarterly earnings results on Wednesday, October 30th. The information technology services provider reported $2.63 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.68 by ($0.05). CDW had a return on equity of 58.31% and a net margin of 5.33%. The firm had revenue of $5.52 billion during the quarter, compared to analysts’ expectations of $5.72 billion. During the same period in the previous year, the company posted $2.60 earnings per share. The company’s quarterly revenue was down 2.0% compared to the same quarter last year. On average, equities analysts expect that CDW Co. will post 9.05 earnings per share for the current fiscal year.

CDW Increases Dividend

The business 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 $0.625 dividend. This is an increase from CDW’s previous quarterly dividend of $0.62. This represents a $2.50 dividend on an annualized basis and a yield of 1.42%. The ex-dividend date is Monday, November 25th. CDW’s dividend payout ratio (DPR) is currently 30.56%.

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.