Healthcare of Ontario Pension Plan Trust Fund Buys 82,970 Shares of CDW Co. (NASDAQ:CDW)

Healthcare of Ontario Pension Plan Trust Fund grew its stake in shares of CDW Co. (NASDAQ:CDW) by 667.9% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 95,393 shares of the information technology services provider’s stock after acquiring an additional 82,970 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund owned about 0.07% of CDW worth $21,587,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the stock. ORG Partners LLC purchased a new position in CDW in the second quarter worth about $34,000. Quest Partners LLC bought a new position in CDW in the 2nd quarter valued at approximately $35,000. Canoe Financial LP purchased a new stake in CDW during the 3rd quarter valued at $37,000. Fortitude Family Office LLC increased its holdings in shares of CDW by 350.0% in 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 in the last quarter. Finally, Summit Securities Group LLC purchased a new position in shares of CDW in the second quarter worth $40,000. Hedge funds and other institutional investors own 93.15% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on CDW. JPMorgan Chase & Co. downgraded shares of CDW from an “overweight” rating to a “neutral” rating and cut their target price for the stock from $260.00 to $235.00 in a research report on Monday, October 28th. Barclays reduced their price objective on CDW from $229.00 to $201.00 and set an “equal weight” rating for the company in a research report on Thursday, October 31st. Redburn Atlantic started coverage on CDW in a research note on Friday, November 15th. They set a “buy” rating and a $230.00 price target for the company. Finally, Citigroup lowered shares of CDW from a “buy” rating to a “neutral” rating and reduced their price target for the company from $250.00 to $245.00 in a research report on Tuesday, October 1st. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $244.63.

CDW Trading Down 0.6 %

Shares of NASDAQ:CDW opened at $176.75 on Friday. The stock has a 50 day moving average of $206.88 and a 200 day moving average of $217.52. The company has a market cap of $23.55 billion, a PE ratio of 21.61, a price-to-earnings-growth ratio of 5.10 and a beta of 1.05. 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.

CDW (NASDAQ:CDW) last posted its quarterly 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 during 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%. The business’s revenue for the quarter was down 2.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.60 earnings per share. As a group, equities research analysts expect that CDW Co. will post 8.99 EPS for the current year.

CDW Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Monday, November 25th will be paid a $0.625 dividend. This represents a $2.50 dividend on an annualized basis and a yield of 1.41%. The ex-dividend date of this dividend is Monday, November 25th. This is a positive change from CDW’s previous quarterly dividend of $0.62. CDW’s dividend payout ratio is presently 30.56%.

CDW Company 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.