Tidal Investments LLC Has $3.28 Million Holdings in CDW Co. (NASDAQ:CDW)

Tidal Investments LLC decreased its position in shares of CDW Co. (NASDAQ:CDW) by 13.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,488 shares of the information technology services provider’s stock after selling 2,199 shares during the period. Tidal Investments LLC’s holdings in CDW were worth $3,279,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of CDW. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund bought a new position in CDW during the third quarter worth $12,761,000. Raymond James & Associates grew its position in CDW by 16.6% in the 2nd quarter. Raymond James & Associates now owns 139,711 shares of the information technology services provider’s stock worth $31,273,000 after purchasing an additional 19,867 shares during the last quarter. Thrivent Financial for Lutherans increased its holdings in shares of CDW by 12.8% during the 3rd quarter. Thrivent Financial for Lutherans now owns 599,900 shares of the information technology services provider’s stock worth $135,758,000 after purchasing an additional 68,023 shares during the period. Exchange Traded Concepts LLC raised its position in shares of CDW by 50.7% during the third quarter. Exchange Traded Concepts LLC now owns 2,398 shares of the information technology services provider’s stock valued at $543,000 after buying an additional 807 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of CDW by 10.1% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 27,728 shares of the information technology services provider’s stock valued at $6,207,000 after buying an additional 2,533 shares during the period. 93.15% of the stock is currently owned by institutional investors.

CDW Stock Down 1.1 %

Shares of NASDAQ:CDW opened at $176.06 on Friday. The company’s fifty day moving average is $196.12 and its 200-day moving average is $213.43. 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 Co. has a 52 week low of $172.95 and a 52 week high of $263.37. The company has a market capitalization of $23.46 billion, a PE ratio of 21.52, a P/E/G ratio of 5.01 and a beta of 1.02.

CDW (NASDAQ:CDW) last issued its quarterly earnings data 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 return on equity of 58.31% and a net margin of 5.33%. The firm had revenue of $5.52 billion for the quarter, compared to the consensus estimate of $5.72 billion. During the same period in the prior year, the company posted $2.60 earnings per share. CDW’s quarterly revenue was down 2.0% compared to the same quarter last year. Equities research analysts predict that CDW Co. will post 8.99 earnings per share for the current fiscal year.

CDW Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Monday, November 25th were issued a $0.625 dividend. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.42%. This is a boost from CDW’s previous quarterly dividend of $0.62. The ex-dividend date of this dividend was Monday, November 25th. CDW’s payout ratio is currently 30.56%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on CDW. Redburn Atlantic assumed coverage on CDW in a research note on Friday, November 15th. They set a “buy” rating and a $230.00 price target on the stock. JPMorgan Chase & Co. cut CDW from an “overweight” rating to a “neutral” rating and lowered their price objective for the company from $260.00 to $235.00 in a research report on Monday, October 28th. Barclays reduced their target price on CDW from $229.00 to $201.00 and set an “equal weight” rating for the company in a research report on Thursday, October 31st. Finally, Citigroup lowered shares of CDW from a “buy” rating to a “neutral” rating and lowered their price target for the company from $250.00 to $245.00 in a report on Tuesday, October 1st. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, CDW has a consensus rating of “Moderate Buy” and a consensus target price of $248.71.

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.