QRG Capital Management Inc. Has $6.34 Million Stock Position in CDW Co. (NASDAQ:CDW)

QRG Capital Management Inc. reduced its stake in CDW Co. (NASDAQ:CDW) by 49.3% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 28,015 shares of the information technology services provider’s stock after selling 27,291 shares during the quarter. QRG Capital Management Inc.’s holdings in CDW were worth $6,340,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Acadian Asset Management LLC increased its holdings in CDW by 211.5% in the first quarter. Acadian Asset Management LLC now owns 44,205 shares of the information technology services provider’s stock worth $11,302,000 after purchasing an additional 30,012 shares in the last quarter. Mediolanum International Funds Ltd bought a new stake in shares of CDW during the first quarter valued at approximately $2,461,000. Meeder Asset Management Inc. increased its holdings in shares of CDW by 33,447.6% during the first quarter. Meeder Asset Management Inc. now owns 7,045 shares of the information technology services provider’s stock valued at $1,802,000 after acquiring an additional 7,024 shares in the last quarter. Peak Financial Advisors LLC bought a new stake in shares of CDW during the second quarter valued at approximately $2,854,000. Finally, M&G Plc bought a new stake in shares of CDW during the first quarter valued at approximately $8,528,000. 93.15% of the stock is owned by institutional investors and hedge funds.

CDW Stock Up 1.0 %

Shares of NASDAQ CDW opened at $192.99 on Wednesday. CDW Co. has a one year low of $187.73 and a one 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 business’s fifty day moving average price is $217.85 and its 200-day moving average price is $222.52. The stock has a market capitalization of $25.72 billion, a PE ratio of 23.59, a P/E/G ratio of 5.07 and a beta of 1.05.

CDW (NASDAQ:CDW) last issued 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 firm had revenue of $5.52 billion for the quarter, compared to analysts’ expectations of $5.72 billion. During the same period in the prior year, the company earned $2.60 EPS. The firm’s quarterly revenue was down 2.0% on a year-over-year basis. On average, equities research analysts anticipate that CDW Co. will post 9.38 EPS for the current year.

CDW Increases Dividend

The company also recently declared 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. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.30%. The ex-dividend date of this dividend is Monday, November 25th. This is a boost from CDW’s previous quarterly dividend of $0.62. CDW’s dividend payout ratio is currently 30.32%.

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 decreased their price target for the stock from $260.00 to $235.00 in a report on Monday, October 28th. 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. Stifel Nicolaus upped their price target on CDW from $250.00 to $260.00 and gave the stock a “buy” rating in a report on Wednesday, July 17th. Finally, Citigroup downgraded CDW from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $250.00 to $245.00 in a report on Tuesday, October 1st. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price 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.