Quantbot Technologies LP Has $4.25 Million Stock Position in CDW Co. (NASDAQ:CDW)

Quantbot Technologies LP raised its stake in CDW Co. (NASDAQ:CDW) by 30.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 18,764 shares of the information technology services provider’s stock after acquiring an additional 4,376 shares during the quarter. Quantbot Technologies LP’s holdings in CDW were worth $4,246,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. ORG Partners LLC bought a new position in CDW in the 2nd quarter valued at about $34,000. Quest Partners LLC bought a new position in shares of CDW during the second quarter worth approximately $35,000. Canoe Financial LP bought a new position in CDW in the third quarter valued at approximately $37,000. Fortitude Family Office LLC increased its stake in CDW by 350.0% in the third 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 bought a new position in CDW in the second quarter valued at approximately $40,000. 93.15% of the stock is owned by institutional investors.

CDW Price Performance

Shares of NASDAQ CDW opened at $177.80 on Wednesday. CDW Co. has a twelve month low of $172.95 and a twelve month high of $263.37. The company has a quick ratio of 1.28, a current ratio of 1.40 and a debt-to-equity ratio of 2.39. The company has a market capitalization of $23.69 billion, a PE ratio of 21.74, a P/E/G ratio of 5.03 and a beta of 1.05. The firm has a fifty day simple moving average of $208.69 and a 200 day simple moving average of $218.12.

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

CDW Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Monday, November 25th will be given a dividend of $0.625 per share. The ex-dividend date of this dividend is Monday, November 25th. This is an increase from CDW’s previous quarterly dividend of $0.62. This represents a $2.50 annualized dividend and a dividend yield of 1.41%. CDW’s payout ratio is presently 30.56%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Redburn Atlantic began coverage on shares of CDW in a research note on Friday, November 15th. They issued a “buy” rating and a $230.00 price objective on the stock. JPMorgan Chase & Co. lowered shares of CDW from an “overweight” rating to a “neutral” rating and cut their target price for the company from $260.00 to $235.00 in a research report on Monday, October 28th. Barclays cut their target price on shares of CDW from $229.00 to $201.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 31st. Finally, Citigroup lowered shares of CDW from a “buy” rating to a “neutral” rating and cut their price target for the stock from $250.00 to $245.00 in a report on Tuesday, October 1st. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target 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.