Tudor Investment Corp ET AL Reduces Holdings in CDW Corporation $CDW

Tudor Investment Corp ET AL lowered its stake in shares of CDW Corporation (NASDAQ:CDW) by 38.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 51,097 shares of the information technology services provider’s stock after selling 32,437 shares during the quarter. Tudor Investment Corp ET AL’s holdings in CDW were worth $8,139,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Root Financial Partners LLC purchased a new stake in CDW during the 3rd quarter worth approximately $26,000. Quent Capital LLC purchased a new position in shares of CDW in the third quarter worth $57,000. Covestor Ltd raised its holdings in shares of CDW by 87.9% in the third quarter. Covestor Ltd now owns 483 shares of the information technology services provider’s stock worth $77,000 after buying an additional 226 shares during the last quarter. Cary Street Partners Investment Advisory LLC lifted its stake in shares of CDW by 15.5% during the second quarter. Cary Street Partners Investment Advisory LLC now owns 1,427 shares of the information technology services provider’s stock worth $255,000 after buying an additional 192 shares during the period. Finally, Franklin Street Advisors Inc. NC acquired a new stake in shares of CDW during the third quarter worth $290,000. 93.15% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on CDW. Raymond James Financial raised shares of CDW from an “outperform” rating to a “strong-buy” rating and set a $185.00 price objective on the stock in a report on Tuesday, November 25th. JPMorgan Chase & Co. lowered their price target on CDW from $170.00 to $160.00 and set a “neutral” rating for the company in a research report on Thursday, February 5th. Evercore reaffirmed an “outperform” rating and set a $180.00 price target on shares of CDW in a research report on Tuesday, January 20th. Morgan Stanley boosted their price target on CDW from $141.00 to $142.00 and gave the company an “equal weight” rating in a research note on Thursday, February 5th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of CDW in a report on Tuesday, January 27th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $160.43.

CDW Stock Down 0.1%

CDW stock opened at $120.16 on Tuesday. The firm’s fifty day simple moving average is $126.28 and its 200-day simple moving average is $141.26. The company has a market capitalization of $15.50 billion, a P/E ratio of 14.85, a price-to-earnings-growth ratio of 1.66 and a beta of 1.06. The company has a debt-to-equity ratio of 1.77, a current ratio of 1.18 and a quick ratio of 1.10. CDW Corporation has a 12 month low of $112.98 and a 12 month high of $192.30.

CDW (NASDAQ:CDW) last issued its earnings results on Wednesday, February 4th. The information technology services provider reported $2.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.44 by $0.13. The firm had revenue of $5.51 billion during the quarter, compared to analysts’ expectations of $5.33 billion. CDW had a net margin of 4.76% and a return on equity of 50.66%. The firm’s revenue was up 6.3% compared to the same quarter last year. During the same quarter last year, the company posted $2.48 earnings per share. As a group, equities research analysts forecast that CDW Corporation will post 9.41 earnings per share for the current year.

CDW Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 10th. Shareholders of record on Wednesday, February 25th were given a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend was Wednesday, February 25th. CDW’s dividend payout ratio (DPR) is currently 31.15%.

About CDW

CDW (NASDAQ: CDW) is a leading provider of information technology products and integrated solutions for business, government, education and healthcare customers. The company sources and resells hardware and software from major technology vendors and packages those products with professional services, managed services and lifecycle support. Its offerings span IT infrastructure, cloud and data center solutions, cybersecurity, networking, unified communications, endpoint devices, and software licensing and procurement services designed to simplify IT operations for customers.

CDW combines a broad product portfolio with consultative sales, implementation and technical support capabilities.