Y Intercept Hong Kong Ltd Purchases 1,203 Shares of CDW Co. (NASDAQ:CDW)

Y Intercept Hong Kong Ltd raised its position in CDW Co. (NASDAQ:CDW) by 54.7% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,404 shares of the information technology services provider’s stock after buying an additional 1,203 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in CDW were worth $770,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. ORG Partners LLC bought a new position in CDW in the 2nd quarter valued at about $34,000. Quest Partners LLC acquired a new stake in shares of CDW during the 2nd quarter worth approximately $35,000. Canoe Financial LP bought a new position in CDW in the third quarter valued at approximately $37,000. Fortitude Family Office LLC raised its position 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 stake in CDW during the second quarter worth $40,000. Institutional investors own 93.15% of the company’s stock.

CDW Stock Down 1.1 %

Shares of NASDAQ:CDW opened at $176.06 on Friday. The firm has a market cap of $23.46 billion, a P/E ratio of 21.52, a P/E/G ratio of 5.01 and a beta of 1.02. CDW Co. has a 12-month low of $172.95 and a 12-month high of $263.37. The business has a fifty day simple moving average of $196.12 and a 200 day simple moving average of $213.51. The company has a quick ratio of 1.28, a current ratio of 1.40 and a debt-to-equity ratio of 2.39.

CDW (NASDAQ:CDW) last issued its quarterly earnings data 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). CDW had a return on equity of 58.31% and a net margin of 5.33%. The company 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 earnings per share. CDW’s revenue was down 2.0% compared to the same quarter last year. Analysts predict that CDW Co. will post 8.99 earnings per share for the current year.

CDW Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Monday, November 25th were paid a $0.625 dividend. This is a positive change from CDW’s previous quarterly dividend of $0.62. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.42%. The ex-dividend date was Monday, November 25th. CDW’s dividend payout ratio is currently 30.56%.

Analyst Ratings Changes

A number of research firms have recently commented on CDW. 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. JPMorgan Chase & Co. downgraded shares of CDW from an “overweight” rating to a “neutral” rating and lowered their price target for the stock from $260.00 to $235.00 in a report on Monday, October 28th. Redburn Atlantic began coverage on CDW in a report on Friday, November 15th. They set a “buy” rating and a $230.00 price objective on the stock. Finally, Barclays lowered their target price on CDW from $229.00 to $201.00 and set an “equal weight” rating for the company in a report on Thursday, October 31st. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, CDW has a consensus rating of “Moderate Buy” and an average target price of $248.71.

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.