Qsemble Capital Management LP Buys New Holdings in CDW Co. (NASDAQ:CDW)

Qsemble Capital Management LP bought a new stake in CDW Co. (NASDAQ:CDW) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 2,480 shares of the information technology services provider’s stock, valued at approximately $561,000.

Other large investors have also recently bought and sold shares of the company. RDA Financial Network lifted its holdings in CDW by 3.0% in the second quarter. RDA Financial Network now owns 1,587 shares of the information technology services provider’s stock valued at $355,000 after acquiring an additional 46 shares during the period. PDS Planning Inc lifted its holdings in CDW by 4.3% in the third quarter. PDS Planning Inc now owns 1,186 shares of the information technology services provider’s stock valued at $268,000 after acquiring an additional 49 shares during the period. Oregon Public Employees Retirement Fund lifted its holdings in CDW by 0.5% in the second quarter. Oregon Public Employees Retirement Fund now owns 11,541 shares of the information technology services provider’s stock valued at $2,583,000 after acquiring an additional 54 shares during the period. Profund Advisors LLC lifted its holdings in CDW by 0.5% in the second quarter. Profund Advisors LLC now owns 12,469 shares of the information technology services provider’s stock valued at $2,791,000 after acquiring an additional 58 shares during the period. Finally, OneAscent Wealth Management LLC lifted its holdings in CDW by 2.5% in the third quarter. OneAscent Wealth Management LLC now owns 2,387 shares of the information technology services provider’s stock valued at $540,000 after acquiring an additional 58 shares during the period. Hedge funds and other institutional investors own 93.15% of the company’s stock.

CDW Trading Down 0.6 %

Shares of CDW stock opened at $176.75 on Thursday. The stock has a 50 day simple moving average of $207.78 and a 200-day simple moving average of $217.81. CDW Co. has a 1-year low of $172.95 and a 1-year high of $263.37. The company has a debt-to-equity ratio of 2.39, a current ratio of 1.40 and a quick ratio of 1.28. The company has a market cap of $23.55 billion, a price-to-earnings ratio of 21.61, a PEG ratio of 5.10 and a beta of 1.05.

CDW (NASDAQ:CDW) last posted its quarterly earnings data on Wednesday, October 30th. The information technology services provider reported $2.63 EPS for the quarter, missing the consensus estimate of $2.68 by ($0.05). CDW had a net margin of 5.33% and a return on equity of 58.31%. The firm had revenue of $5.52 billion during the quarter, compared to analyst estimates of $5.72 billion. During the same period in the prior year, the company posted $2.60 earnings per share. The firm’s revenue for the quarter was down 2.0% compared to the same quarter last year. On average, equities research analysts expect that CDW Co. will post 8.99 EPS for the current fiscal year.

CDW Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Monday, November 25th will be paid a $0.625 dividend. This is an increase from CDW’s previous quarterly dividend of $0.62. This represents a $2.50 annualized dividend and a yield of 1.41%. The ex-dividend date is Monday, November 25th. CDW’s dividend payout ratio is currently 30.56%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on CDW. Barclays decreased their price target on CDW from $229.00 to $201.00 and set an “equal weight” rating for the company in a report on Thursday, October 31st. Citigroup downgraded CDW from a “buy” rating to a “neutral” rating and decreased their price target for the company from $250.00 to $245.00 in a report on Tuesday, October 1st. Redburn Atlantic assumed coverage on CDW in a report on Friday, November 15th. They issued a “buy” rating and a $230.00 price target for the company. Finally, JPMorgan Chase & Co. downgraded CDW from an “overweight” rating to a “neutral” rating and reduced their target price for the stock from $260.00 to $235.00 in a research note on Monday, October 28th. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $244.63.

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.