FORA Capital LLC Has $4.30 Million Stock Holdings in CDW Co. (NASDAQ:CDW)

by · The Markets Daily

FORA Capital LLC grew its position in shares of CDW Co. (NASDAQ:CDW – Free Report) by 166.2% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 19,003 shares of the information technology services provider’s stock after acquiring an additional 11,865 shares during the quarter. FORA Capital LLC’s holdings in CDW were worth $4,300,000 at the end of the most recent reporting period.

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

Analysts Set New Price Targets

A number of research analysts have weighed in on CDW shares. Barclays decreased their price target on CDW from $229.00 to $201.00 and set an “equal weight” rating for the company in a research note on Thursday, October 31st. Citigroup downgraded shares of CDW from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $250.00 to $245.00 in a report on Tuesday, October 1st. Redburn Atlantic initiated coverage on shares of CDW in a research note on Friday, November 15th. They issued a “buy” rating and a $230.00 price target for the company. Finally, JPMorgan Chase & Co. cut shares of CDW from an “overweight” rating to a “neutral” rating and dropped their target price for the company 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 issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $244.63.

Get Our Latest Report on CDW

CDW Stock Performance

CDW traded down $0.13 on Wednesday, reaching $177.67. The company had a trading volume of 167,670 shares, compared to its average volume of 901,462. The company’s fifty day moving average is $207.78 and its 200 day moving average is $217.81. The company has a debt-to-equity ratio of 2.39, a quick ratio of 1.28 and a current ratio of 1.40. The stock has a market cap of $23.68 billion, a P/E ratio of 21.74, a P/E/G ratio of 5.10 and a beta of 1.05. CDW Co. has a fifty-two week low of $172.95 and a fifty-two week high of $263.37.

CDW (NASDAQ:CDW – Get Free Report) last announced its earnings results on Wednesday, October 30th. The information technology services provider reported $2.63 earnings per share for the quarter, missing analysts’ consensus estimates 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 return on equity of 58.31% and a net margin of 5.33%. CDW’s revenue for the quarter was down 2.0% on a year-over-year basis. During the same quarter last year, the business posted $2.60 EPS. As a group, analysts predict that CDW Co. will post 8.99 earnings per share for the current fiscal year.

CDW Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Monday, November 25th will be given 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 boost from CDW’s previous quarterly dividend of $0.62. CDW’s payout ratio is presently 30.56%.

CDW Company Profile

(Free Report)

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.

Further Reading

Want to see what other hedge funds are holding CDW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for CDW Co. (NASDAQ:CDW – Free Report).