Canoe Financial LP Buys 112 Shares of CDW Co. (NASDAQ:CDW)

Canoe Financial LP grew its stake in shares of CDW Co. (NASDAQ:CDW) by 68.3% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 276 shares of the information technology services provider’s stock after acquiring an additional 112 shares during the quarter. Canoe Financial LP’s holdings in CDW were worth $48,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Quest Partners LLC bought a new position in CDW in the second quarter valued at approximately $35,000. Fortitude Family Office LLC boosted 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 valued at $39,000 after purchasing an additional 133 shares in the last quarter. Ashton Thomas Securities LLC bought a new position in shares of CDW in the 3rd quarter valued at $43,000. Covestor Ltd raised its holdings in shares of CDW by 80.1% during the 3rd quarter. Covestor Ltd now owns 245 shares of the information technology services provider’s stock worth $55,000 after buying an additional 109 shares in the last quarter. Finally, Kimelman & Baird LLC bought a new stake in shares of CDW during the 2nd quarter worth $56,000. 93.15% of the stock is owned by institutional investors and hedge funds.

CDW Stock Performance

Shares of CDW stock opened at $188.70 on Friday. The stock has a market cap of $25.15 billion, a price-to-earnings ratio of 23.07, a P/E/G ratio of 4.91 and a beta of 1.01. CDW Co. has a twelve month low of $168.43 and a twelve month high of $263.37. The company’s fifty day moving average is $179.13 and its 200 day moving average is $205.37. 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 released its quarterly earnings results on Wednesday, October 30th. The information technology services provider reported $2.63 EPS for the quarter, missing analysts’ consensus estimates of $2.68 by ($0.05). CDW had a net margin of 5.33% and a return on equity of 58.31%. The company had revenue of $5.52 billion during the quarter, compared to the consensus estimate of $5.72 billion. During the same quarter last year, the firm posted $2.60 EPS. The company’s quarterly revenue was down 2.0% on a year-over-year basis. Sell-side analysts forecast that CDW Co. will post 8.99 EPS for the current year.

CDW Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Monday, November 25th were given a dividend of $0.625 per share. This represents a $2.50 dividend on an annualized basis and a yield of 1.32%. The ex-dividend date of this dividend was Monday, November 25th. This is an increase from CDW’s previous quarterly dividend of $0.62. CDW’s dividend payout ratio is currently 30.56%.

Analysts Set New Price Targets

A number of research firms have issued reports on CDW. Citigroup cut CDW from a “buy” rating to a “neutral” rating and decreased their target price for the company from $250.00 to $245.00 in a research report on Tuesday, October 1st. JPMorgan Chase & Co. cut shares of CDW from an “overweight” rating to a “neutral” rating and lowered their price objective for the stock from $260.00 to $235.00 in a research report on Monday, October 28th. Redburn Atlantic started coverage on shares of CDW in a research note on Friday, November 15th. They issued a “buy” rating and a $230.00 price objective for the company. Morgan Stanley boosted their target price on shares of CDW from $190.00 to $193.00 and gave the stock an “equal weight” rating in a research note on Monday, December 16th. Finally, Barclays dropped their price target on CDW from $229.00 to $201.00 and set an “equal weight” rating for the company in a research note on Thursday, October 31st. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $239.33.

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.