Worldquant Millennium Advisors LLC Has $23.15 Million Position in CDW Co. (NASDAQ:CDW)

Worldquant Millennium Advisors LLC increased its position in shares of CDW Co. (NASDAQ:CDW) by 374.2% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 102,290 shares of the information technology services provider’s stock after buying an additional 80,717 shares during the quarter. Worldquant Millennium Advisors LLC’s holdings in CDW were worth $23,148,000 as of its most recent filing with the Securities and Exchange Commission.

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

CDW Stock Performance

NASDAQ:CDW opened at $180.06 on Friday. The company has a debt-to-equity ratio of 2.39, a current ratio of 1.40 and a quick ratio of 1.28. CDW Co. has a 1-year low of $172.95 and a 1-year high of $263.37. The firm’s fifty day moving average price is $200.31 and its 200 day moving average price is $215.36. The firm has a market cap of $23.99 billion, a price-to-earnings ratio of 22.01, a price-to-earnings-growth ratio of 5.05 and a beta of 1.02.

CDW (NASDAQ:CDW) last released 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). The company had revenue of $5.52 billion for 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%. The company’s revenue for the quarter was down 2.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.60 EPS. On average, sell-side analysts expect that CDW Co. will post 8.99 EPS for the current year.

CDW Increases Dividend

The business also recently disclosed 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. This represents a $2.50 dividend on an annualized basis and a yield of 1.39%. This is an increase from CDW’s previous quarterly dividend of $0.62. The ex-dividend date is Monday, November 25th. CDW’s payout ratio is presently 30.56%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on CDW. Citigroup downgraded CDW from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $250.00 to $245.00 in a research note on Tuesday, October 1st. Barclays reduced their price target on CDW from $229.00 to $201.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 31st. Redburn Atlantic began coverage on shares of CDW in a research note on Friday, November 15th. They issued a “buy” rating and a $230.00 price target on the stock. Finally, JPMorgan Chase & Co. lowered shares of CDW from an “overweight” rating to a “neutral” rating and reduced their target price for the stock from $260.00 to $235.00 in a report on Monday, October 28th. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from 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.