Olympiad Research LP Makes New $266,000 Investment in CDW Co. (NASDAQ:CDW)

Olympiad Research LP acquired a new position in CDW Co. (NASDAQ:CDW) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 1,174 shares of the information technology services provider’s stock, valued at approximately $266,000.

A number of other institutional investors have also recently made changes to their positions in CDW. Vanguard Group Inc. lifted its position in shares of CDW by 4.6% during the 1st quarter. Vanguard Group Inc. now owns 16,407,542 shares of the information technology services provider’s stock valued at $4,196,721,000 after buying an additional 714,393 shares during the last quarter. Perpetual Ltd purchased a new stake in CDW during the 3rd quarter worth about $158,300,000. Lazard Asset Management LLC lifted its holdings in CDW by 225.9% during the 1st quarter. Lazard Asset Management LLC now owns 881,586 shares of the information technology services provider’s stock worth $225,491,000 after purchasing an additional 611,054 shares in the last quarter. Ceredex Value Advisors LLC purchased a new stake in CDW during the 2nd quarter worth about $79,549,000. Finally, Canada Pension Plan Investment Board lifted its holdings in CDW by 2,045.4% during the 2nd quarter. Canada Pension Plan Investment Board now owns 294,302 shares of the information technology services provider’s stock worth $65,877,000 after purchasing an additional 280,584 shares in the last quarter. Hedge funds and other institutional investors own 93.15% of the company’s stock.

CDW Price Performance

Shares of CDW stock opened at $202.90 on Friday. The company has a current ratio of 1.40, a quick ratio of 1.28 and a debt-to-equity ratio of 2.39. The firm has a market capitalization of $27.04 billion, a PE ratio of 24.80, a price-to-earnings-growth ratio of 5.15 and a beta of 1.05. The business’s 50-day moving average price is $217.01 and its 200-day moving average price is $222.25. CDW Co. has a 12 month low of $187.73 and a 12 month high of $263.37.

CDW (NASDAQ:CDW) last announced 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). The firm had revenue of $5.52 billion for the quarter, compared to the consensus estimate of $5.72 billion. CDW had a net margin of 5.33% and a return on equity of 58.31%. CDW’s revenue for the quarter was down 2.0% compared to the same quarter last year. During the same quarter last year, the company posted $2.60 earnings per share. Sell-side analysts forecast that CDW Co. will post 9.38 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. Stockholders of record on Monday, November 25th will be given a dividend of $0.625 per share. The ex-dividend date of this dividend is Monday, November 25th. This is a positive change from CDW’s previous quarterly dividend of $0.62. This represents a $2.50 annualized dividend and a dividend yield of 1.23%. CDW’s dividend payout ratio is 30.32%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Stifel Nicolaus increased their price objective on CDW from $250.00 to $260.00 and gave the stock a “buy” rating in a report on Wednesday, July 17th. Barclays dropped their price objective on CDW from $229.00 to $201.00 and set an “equal weight” rating on the stock in a report on Thursday, October 31st. Citigroup lowered CDW from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $250.00 to $245.00 in a research note on Tuesday, October 1st. Finally, JPMorgan Chase & Co. lowered CDW from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $260.00 to $235.00 in a research note on Monday, October 28th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average 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.