Dynamic Technology Lab Private Ltd Sells 8,897 Shares of CDW Co. (NASDAQ:CDW)

Dynamic Technology Lab Private Ltd reduced its stake in CDW Co. (NASDAQ:CDW) by 74.7% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 3,013 shares of the information technology services provider’s stock after selling 8,897 shares during the quarter. Dynamic Technology Lab Private Ltd’s holdings in CDW were worth $682,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. ORG Partners LLC bought a new position in shares of CDW in the second quarter worth about $34,000. Quest Partners LLC purchased a new stake in CDW in the 2nd quarter worth approximately $35,000. Canoe Financial LP bought a new stake in CDW during the 3rd quarter worth approximately $37,000. Fortitude Family Office LLC lifted its holdings in CDW by 350.0% during the third quarter. Fortitude Family Office LLC now owns 171 shares of the information technology services provider’s stock valued at $39,000 after purchasing an additional 133 shares in the last quarter. Finally, Summit Securities Group LLC bought a new position in shares of CDW in the second quarter worth approximately $40,000. 93.15% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on CDW shares. Barclays lowered 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 note on Thursday, October 31st. Redburn Atlantic began coverage on CDW in a research report on Friday, November 15th. They issued a “buy” rating and a $230.00 price objective on the stock. JPMorgan Chase & Co. cut CDW from an “overweight” rating to a “neutral” rating and cut their target price for the stock from $260.00 to $235.00 in a research report on Monday, October 28th. Finally, Citigroup cut CDW from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $250.00 to $245.00 in a report on Tuesday, October 1st. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $244.63.

CDW Stock Down 0.6 %

Shares of CDW opened at $176.75 on Friday. The company has a debt-to-equity ratio of 2.39, a current ratio of 1.40 and a quick ratio of 1.28. The stock has a market capitalization of $23.55 billion, a price-to-earnings ratio of 21.61, a price-to-earnings-growth ratio of 5.10 and a beta of 1.05. CDW Co. has a 1 year low of $172.95 and a 1 year high of $263.37. The business’s 50 day simple moving average is $206.88 and its 200-day simple moving average is $217.52.

CDW (NASDAQ:CDW) last released its quarterly earnings data 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). CDW had a net margin of 5.33% and a return on equity of 58.31%. The business had revenue of $5.52 billion for the quarter, compared to the consensus estimate of $5.72 billion. During the same quarter last year, the business earned $2.60 EPS. CDW’s revenue for the quarter was down 2.0% compared to the same quarter last year. As a group, equities analysts expect that CDW Co. will post 8.99 earnings per share 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 paid a dividend of $0.625 per share. This is a boost from CDW’s previous quarterly dividend of $0.62. This represents a $2.50 annualized dividend and a yield of 1.41%. The ex-dividend date is Monday, November 25th. CDW’s payout ratio is presently 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.