Exchange Traded Concepts LLC Boosts Stock Holdings in CDW Co. (NASDAQ:CDW)

Exchange Traded Concepts LLC increased its position in CDW Co. (NASDAQ:CDW) by 34.8% in the fourth quarter, Holdings Channel.com reports. The fund owned 3,232 shares of the information technology services provider’s stock after purchasing an additional 834 shares during the period. Exchange Traded Concepts LLC’s holdings in CDW were worth $562,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Massachusetts Financial Services Co. MA purchased a new position in shares of CDW during the third quarter valued at approximately $416,111,000. Janus Henderson Group PLC raised its stake in CDW by 7,029.1% during the 3rd 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 buying an additional 1,446,025 shares during the last quarter. Holocene Advisors LP bought a new position in shares of CDW during the 3rd quarter valued at $172,217,000. Perpetual Ltd purchased a new position in shares of CDW in the 3rd quarter worth $158,300,000. Finally, Assenagon Asset Management S.A. grew its holdings in shares of CDW by 7,549.9% in the fourth quarter. Assenagon Asset Management S.A. now owns 256,271 shares of the information technology services provider’s stock worth $44,601,000 after acquiring an additional 252,921 shares during the period. 93.15% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. JPMorgan Chase & Co. cut CDW from an “overweight” rating to a “neutral” rating and dropped their target price for the stock 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 for the company in a research report on Thursday, October 31st. Redburn Atlantic initiated coverage on shares of CDW in a research report on Friday, November 15th. They issued a “buy” rating and a $230.00 price target on the stock. Morgan Stanley boosted their price objective on shares of CDW from $190.00 to $193.00 and gave the company an “equal weight” rating in a research report on Monday, December 16th. Finally, UBS Group decreased their target price on CDW from $233.00 to $220.00 and set a “buy” rating on the stock in a report on Tuesday, January 7th. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, CDW has a consensus rating of “Moderate Buy” and an average target price of $239.33.

CDW Stock Up 1.1 %

CDW opened at $197.76 on Friday. CDW Co. has a fifty-two week low of $168.43 and a fifty-two week high of $263.37. The company has a debt-to-equity ratio of 2.39, a quick ratio of 1.28 and a current ratio of 1.40. The stock has a market cap of $26.35 billion, a price-to-earnings ratio of 24.18, a price-to-earnings-growth ratio of 5.26 and a beta of 1.01. The firm’s fifty day moving average is $181.31 and its 200 day moving average is $203.80.

CDW (NASDAQ:CDW) last released its quarterly earnings data on Wednesday, October 30th. The information technology services provider reported $2.63 earnings per share 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 business 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 company earned $2.60 EPS. The business’s revenue was down 2.0% on a year-over-year basis. On average, sell-side analysts forecast 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. Shareholders of record on Monday, November 25th were paid a $0.625 dividend. This represents a $2.50 annualized dividend and a yield of 1.26%. This is an increase from CDW’s previous quarterly dividend of $0.62. The ex-dividend date of this dividend was Monday, November 25th. CDW’s dividend 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.