Qsemble Capital Management LP Buys Shares of 2,480 CDW Co. (NASDAQ:CDW)

Qsemble Capital Management LP bought a new stake in CDW Co. (NASDAQ:CDW) in the 3rd quarter, HoldingsChannel reports. The firm bought 2,480 shares of the information technology services provider’s stock, valued at approximately $561,000.

Several other large investors also recently added to or reduced their stakes in CDW. ORG Partners LLC purchased a new stake in CDW in the 2nd quarter valued at $34,000. Quest Partners LLC purchased a new position in shares of CDW during the 2nd quarter worth $35,000. Canoe Financial LP purchased a new position in shares of CDW during the 3rd quarter worth $37,000. Fortitude Family Office LLC grew its holdings 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 period. Finally, Summit Securities Group LLC purchased a new position in shares of CDW during the 2nd quarter worth $40,000. 93.15% of the stock is currently owned by hedge funds and other institutional investors.

CDW Price Performance

CDW opened at $176.75 on Thursday. The stock’s 50-day moving average price is $207.78 and its 200 day moving average price is $217.81. CDW Co. has a 12-month low of $172.95 and a 12-month high of $263.37. 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 $23.55 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 results on Wednesday, October 30th. The information technology services provider reported $2.63 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.68 by ($0.05). The company had revenue of $5.52 billion during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period in the prior year, the business earned $2.60 EPS. As a group, sell-side analysts expect that CDW Co. will post 8.99 earnings per share 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 given a $0.625 dividend. The ex-dividend date of this dividend is Monday, November 25th. This represents a $2.50 dividend on an annualized basis and a yield of 1.41%. This is a positive change from CDW’s previous quarterly dividend of $0.62. CDW’s dividend payout ratio (DPR) is currently 30.56%.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on CDW shares. Citigroup cut CDW from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $250.00 to $245.00 in a report on Tuesday, October 1st. Barclays lowered 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. Redburn Atlantic started coverage on CDW in a report on Friday, November 15th. They set a “buy” rating and a $230.00 price target for the company. Finally, JPMorgan Chase & Co. cut CDW from an “overweight” rating to a “neutral” rating and lowered their price target for the stock from $260.00 to $235.00 in a report on Monday, October 28th. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, CDW presently has a consensus rating of “Moderate Buy” and a consensus price target of $244.63.

About CDW

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.