Harbour Investments Inc. Has $264,000 Holdings in CDW Co. (NASDAQ:CDW)

Harbour Investments Inc. decreased its holdings in CDW Co. (NASDAQ:CDW) by 16.7% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,167 shares of the information technology services provider’s stock after selling 234 shares during the quarter. Harbour Investments Inc.’s holdings in CDW were worth $264,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Orion Portfolio Solutions LLC boosted its stake in shares of CDW by 6.5% in the first quarter. Orion Portfolio Solutions LLC now owns 6,185 shares of the information technology services provider’s stock valued at $1,582,000 after buying an additional 377 shares during the period. Acadian Asset Management LLC lifted its position in shares of CDW by 211.5% during the 1st quarter. Acadian Asset Management LLC now owns 44,205 shares of the information technology services provider’s stock valued at $11,302,000 after acquiring an additional 30,012 shares during the period. Ontario Teachers Pension Plan Board grew its holdings in shares of CDW by 71.4% during the 1st quarter. Ontario Teachers Pension Plan Board now owns 8,075 shares of the information technology services provider’s stock worth $2,065,000 after purchasing an additional 3,365 shares in the last quarter. O Shaughnessy Asset Management LLC increased its position in shares of CDW by 6.6% in the first quarter. O Shaughnessy Asset Management LLC now owns 23,923 shares of the information technology services provider’s stock worth $6,119,000 after purchasing an additional 1,490 shares during the period. Finally, UniSuper Management Pty Ltd raised its stake in CDW by 29.9% in the first quarter. UniSuper Management Pty Ltd now owns 21,056 shares of the information technology services provider’s stock valued at $5,386,000 after purchasing an additional 4,845 shares in the last quarter. Institutional investors and hedge funds own 93.15% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on CDW shares. JPMorgan Chase & Co. downgraded shares of CDW from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $260.00 to $235.00 in a research note on Monday, October 28th. Redburn Atlantic initiated coverage on shares of CDW in a research note on Friday. They issued a “buy” rating and a $230.00 price objective on the stock. Barclays reduced their target price on CDW from $229.00 to $201.00 and set an “equal weight” rating on the stock in a report on Thursday, October 31st. Finally, 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. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $244.63.

CDW Price Performance

CDW stock opened at $177.63 on Monday. The stock has a 50-day moving average price of $213.49 and a two-hundred day moving average price of $219.94. CDW Co. has a 12 month low of $175.94 and a 12 month high of $263.37. The company has a market capitalization of $23.67 billion, a PE ratio of 21.72, a P/E/G ratio of 4.96 and a beta of 1.05. The company has a current ratio of 1.40, a quick ratio of 1.28 and a debt-to-equity ratio of 2.39.

CDW (NASDAQ:CDW) last issued its quarterly earnings data 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). CDW had a net margin of 5.33% and a return on equity of 58.31%. The business had revenue of $5.52 billion during the quarter, compared to the consensus estimate of $5.72 billion. During the same quarter last year, the business earned $2.60 EPS. The firm’s quarterly revenue was down 2.0% compared to the same quarter last year. Analysts expect that CDW Co. will post 9.05 EPS for the current year.

CDW Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Monday, November 25th will be issued a dividend of $0.625 per share. The ex-dividend date of this dividend is Monday, November 25th. This is an increase from CDW’s previous quarterly dividend of $0.62. This represents a $2.50 annualized dividend and a yield of 1.41%. CDW’s payout ratio is presently 30.32%.

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.