Verition Fund Management LLC Sells 2,202 Shares of CDW Co. (NASDAQ:CDW)

Verition Fund Management LLC reduced its holdings in CDW Co. (NASDAQ:CDW) by 70.8% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 910 shares of the information technology services provider’s stock after selling 2,202 shares during the quarter. Verition Fund Management LLC’s holdings in CDW were worth $206,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of CDW. Quest Partners LLC bought a new position in CDW during the second quarter worth $35,000. Canoe Financial LP acquired a new stake in CDW during the third quarter worth approximately $37,000. Fortitude Family Office LLC increased its holdings in CDW by 350.0% in the third 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. Summit Securities Group LLC bought a new position in shares of CDW during the 2nd quarter worth approximately $40,000. Finally, Ashton Thomas Securities LLC acquired a new stake in shares of CDW during the 3rd quarter worth approximately $43,000. Institutional investors own 93.15% of the company’s stock.

CDW Trading Down 1.1 %

NASDAQ CDW opened at $176.06 on Monday. The company has a current ratio of 1.40, a quick ratio of 1.28 and a debt-to-equity ratio of 2.39. The business has a fifty day simple moving average of $196.12 and a 200 day simple moving average of $213.38. CDW Co. has a 12 month low of $172.95 and a 12 month high of $263.37. The firm has a market capitalization of $23.46 billion, a P/E ratio of 21.52, a PEG ratio of 5.01 and a beta of 1.02.

CDW (NASDAQ:CDW) last announced its earnings results on Wednesday, October 30th. The information technology services provider reported $2.63 EPS for the quarter, missing the consensus estimate of $2.68 by ($0.05). CDW had a net margin of 5.33% and a return on equity of 58.31%. The firm had revenue of $5.52 billion during the quarter, compared to analysts’ expectations of $5.72 billion. During the same quarter in the prior year, the company earned $2.60 EPS. The business’s revenue for the quarter was down 2.0% on a year-over-year basis. On average, analysts predict that CDW Co. will post 8.99 EPS for the current fiscal year.

CDW Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Monday, November 25th were paid a $0.625 dividend. This represents a $2.50 dividend on an annualized basis and a yield of 1.42%. The ex-dividend date of this dividend was Monday, November 25th. This is an increase from CDW’s previous quarterly dividend of $0.62. CDW’s dividend payout ratio is 30.56%.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Citigroup downgraded shares of CDW from a “buy” rating to a “neutral” rating and dropped their target price for the company from $250.00 to $245.00 in a research report on Tuesday, October 1st. Redburn Atlantic began coverage on CDW in a research report on Friday, November 15th. They set a “buy” rating and a $230.00 target price on the stock. JPMorgan Chase & Co. downgraded shares of CDW from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $260.00 to $235.00 in a research report on Monday, October 28th. Finally, Barclays decreased their price target on shares of CDW from $229.00 to $201.00 and set an “equal weight” rating for the company in a research note on Thursday, October 31st. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, CDW has a consensus rating of “Moderate Buy” and an average price target of $248.71.

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.