GAMMA Investing LLC Raises Holdings in CDW Co. (NASDAQ:CDW)

GAMMA Investing LLC boosted its stake in shares of CDW Co. (NASDAQ:CDW) by 6.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,017 shares of the information technology services provider’s stock after buying an additional 125 shares during the period. GAMMA Investing LLC’s holdings in CDW were worth $351,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of CDW. Massachusetts Financial Services Co. MA acquired a new position in CDW during the 3rd quarter valued at about $416,111,000. Janus Henderson Group PLC increased its holdings in shares of CDW by 7,029.1% during the third quarter. Janus Henderson Group PLC now owns 1,466,597 shares of the information technology services provider’s stock valued at $331,891,000 after acquiring an additional 1,446,025 shares in the last quarter. Holocene Advisors LP purchased a new position in shares of CDW in the 3rd quarter valued at approximately $172,217,000. Perpetual Ltd acquired a new stake in CDW in the 3rd quarter worth approximately $158,300,000. Finally, Canada Pension Plan Investment Board grew its position in CDW by 2,045.4% during the 2nd quarter. Canada Pension Plan Investment Board now owns 294,302 shares of the information technology services provider’s stock worth $65,877,000 after purchasing an additional 280,584 shares during the last quarter. Institutional investors own 93.15% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on CDW. Morgan Stanley increased their price objective on CDW from $190.00 to $193.00 and gave the company an “equal weight” rating in a report on Monday, December 16th. JPMorgan Chase & Co. cut 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 report on Monday, October 28th. Barclays cut their price target on CDW from $229.00 to $201.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 31st. Citigroup lowered CDW from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $250.00 to $245.00 in a research note on Tuesday, October 1st. Finally, Redburn Atlantic started coverage on CDW in a research note on Friday, November 15th. They issued a “buy” rating and a $230.00 target price on the stock. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $241.75.

CDW Stock Up 2.9 %

CDW stock opened at $179.29 on Tuesday. The company has a debt-to-equity ratio of 2.39, a current ratio of 1.40 and a quick ratio of 1.28. The stock has a market capitalization of $23.89 billion, a PE ratio of 21.92, a price-to-earnings-growth ratio of 5.01 and a beta of 1.01. The business has a 50 day simple moving average of $181.59 and a 200-day simple moving average of $207.72. CDW Co. has a 12 month low of $168.43 and a 12 month high of $263.37.

CDW (NASDAQ:CDW) last released 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). The company had revenue of $5.52 billion during the quarter, compared to analyst estimates of $5.72 billion. CDW had a net margin of 5.33% and a return on equity of 58.31%. CDW’s revenue was down 2.0% compared to the same quarter last year. During the same period in the prior year, the business posted $2.60 EPS. On average, analysts anticipate that CDW Co. will post 8.99 EPS for the current fiscal year.

CDW Increases Dividend

The company also recently disclosed 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 annualized dividend and a yield of 1.39%. This is a boost from CDW’s previous quarterly dividend of $0.62. The ex-dividend date was Monday, November 25th. CDW’s payout ratio is presently 30.56%.

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.