Empirical Finance LLC Boosts Position in CDW Co. (NASDAQ:CDW)

Empirical Finance LLC grew its position in CDW Co. (NASDAQ:CDW) by 2.4% in the third quarter, HoldingsChannel reports. The institutional investor owned 4,446 shares of the information technology services provider’s stock after purchasing an additional 104 shares during the period. Empirical Finance LLC’s holdings in CDW were worth $1,006,000 at the end of the most recent reporting period.

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

CDW Stock Down 1.7 %

Shares of NASDAQ:CDW opened at $177.63 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 cap of $23.67 billion, a price-to-earnings ratio of 21.72, a PEG ratio of 5.19 and a beta of 1.05. The stock’s 50-day moving average price is $213.49 and its two-hundred day moving average price is $219.90. CDW Co. has a 12-month low of $175.94 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 earnings per share for the quarter, missing the consensus estimate 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 analysts’ expectations of $5.72 billion. During the same quarter in the previous year, the company earned $2.60 earnings per share. The company’s revenue was down 2.0% on a year-over-year basis. On average, research analysts forecast that CDW Co. will post 9.05 EPS for the current year.

CDW Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Monday, November 25th will be issued a $0.625 dividend. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.41%. 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. CDW’s dividend payout ratio (DPR) is 30.56%.

Analyst Ratings Changes

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

CDW 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.