Canoe Financial LP Takes $37,000 Position in CDW Co. (NASDAQ:CDW)

Canoe Financial LP purchased a new stake in shares of CDW Co. (NASDAQ:CDW) during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 164 shares of the information technology services provider’s stock, valued at approximately $37,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CDW. Quest Partners LLC bought a new stake in shares of CDW during the 2nd quarter valued at $35,000. ORG Partners LLC bought a new stake in CDW during the second quarter worth about $34,000. Summit Securities Group LLC bought a new stake in CDW during the second quarter worth about $40,000. Continuum Advisory LLC grew its holdings in CDW by 1,692.3% in the second quarter. Continuum Advisory LLC now owns 233 shares of the information technology services provider’s stock worth $52,000 after purchasing an additional 220 shares during the period. Finally, Kimelman & Baird LLC bought a new position in shares of CDW during the second quarter valued at approximately $56,000. 93.15% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Barclays dropped their price target on CDW from $232.00 to $229.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 1st. Stifel Nicolaus boosted their target price on CDW from $250.00 to $260.00 and gave the stock a “buy” rating in a report on Wednesday, July 17th. Finally, Citigroup downgraded CDW from a “buy” rating to a “neutral” rating and reduced their price target for the company from $250.00 to $245.00 in a report on Tuesday, October 1st. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $255.00.

Insider Buying and Selling

In other CDW news, insider Christine A. Leahy bought 1,200 shares of CDW stock in a transaction on Thursday, August 1st. The stock was acquired at an average cost of $216.15 per share, with a total value of $259,380.00. Following the completion of the acquisition, the insider now owns 102,200 shares in the company, valued at approximately $22,090,530. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.90% of the stock is currently owned by corporate insiders.

CDW Stock Down 1.0 %

CDW stock opened at $217.01 on Monday. CDW Co. has a 12 month low of $185.04 and a 12 month high of $263.37. The stock has a fifty day simple moving average of $221.50 and a two-hundred day simple moving average of $224.54. The company has a current ratio of 1.13, a quick ratio of 1.02 and a debt-to-equity ratio of 2.03. The firm has a market cap of $29.17 billion, a price-to-earnings ratio of 27.09, a PEG ratio of 3.42 and a beta of 1.03.

CDW (NASDAQ:CDW) last announced its quarterly earnings results on Wednesday, July 31st. The information technology services provider reported $2.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.39 by ($0.05). CDW had a net margin of 5.29% and a return on equity of 62.22%. The company had revenue of $5.42 billion for the quarter, compared to analysts’ expectations of $5.43 billion. During the same period in the previous year, the business earned $2.43 EPS. The business’s revenue was down 3.6% compared to the same quarter last year. Equities analysts predict that CDW Co. will post 9.4 EPS for the current fiscal year.

CDW Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Monday, August 26th were paid a $0.62 dividend. The ex-dividend date was Monday, August 26th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 1.14%. CDW’s dividend payout ratio (DPR) is currently 30.96%.

CDW Company 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.