Entropy Technologies LP Has $857,000 Stock Position in CDW Co. (NASDAQ:CDW)

Entropy Technologies LP increased its position in CDW Co. (NASDAQ:CDW) by 42.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,786 shares of the information technology services provider’s stock after purchasing an additional 1,120 shares during the quarter. Entropy Technologies LP’s holdings in CDW were worth $857,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. ORG Partners LLC bought a new stake in CDW in the second quarter valued at about $34,000. Quest Partners LLC acquired a new stake in CDW during the second quarter valued at approximately $35,000. Canoe Financial LP bought a new stake in shares of CDW in the 3rd quarter valued at approximately $37,000. Fortitude Family Office LLC raised its holdings in shares of CDW by 350.0% in the 3rd quarter. Fortitude Family Office LLC now owns 171 shares of the information technology services provider’s stock worth $39,000 after buying an additional 133 shares in the last quarter. Finally, Summit Securities Group LLC bought a new position in shares of CDW during the 2nd quarter worth approximately $40,000. Institutional investors and hedge funds own 93.15% of the company’s stock.

CDW Stock Performance

Shares of CDW stock opened at $186.01 on Thursday. CDW Co. has a 52 week low of $185.70 and a 52 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 capitalization of $24.79 billion, a price-to-earnings ratio of 22.74, a PEG ratio of 5.35 and a beta of 1.05. The firm has a fifty day moving average of $214.86 and a two-hundred day moving average of $220.81.

CDW (NASDAQ:CDW) last issued its 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 for the quarter, compared to the consensus estimate of $5.72 billion. CDW had a return on equity of 58.31% and a net margin of 5.33%. CDW’s quarterly revenue was down 2.0% on a year-over-year basis. During the same quarter last year, the business posted $2.60 EPS. As a group, equities research analysts predict that CDW Co. will post 9.05 EPS for the current year.

CDW Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Monday, November 25th will be given a dividend of $0.625 per share. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.34%. This is a boost from CDW’s previous quarterly dividend of $0.62. The ex-dividend date is Monday, November 25th. CDW’s dividend payout ratio (DPR) is currently 30.32%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on CDW shares. Stifel Nicolaus upped their price target on CDW from $250.00 to $260.00 and gave the company a “buy” rating in a research report on Wednesday, July 17th. Barclays dropped 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. JPMorgan Chase & Co. cut shares of CDW from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from $260.00 to $235.00 in a research note on Monday, October 28th. Finally, Citigroup downgraded CDW from a “buy” rating to a “neutral” rating and cut their price objective for the company from $250.00 to $245.00 in a research report on Tuesday, October 1st. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $246.71.

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.