Tudor Investment Corp ET AL Trims Position in CDW Corporation $CDW

Tudor Investment Corp ET AL lessened its position in shares of CDW Corporation (NASDAQ:CDW) by 38.8% in the third quarter, Holdings Channel reports. The fund 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 filing with the SEC.

Other hedge funds also recently bought and sold shares of the company. Danske Bank A S purchased a new stake in CDW in the third quarter worth about $13,347,000. Dark Forest Capital Management LP bought a new position in CDW during the third quarter valued at approximately $313,000. Public Employees Retirement System of Ohio grew its holdings in CDW by 0.6% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 41,100 shares of the information technology services provider’s stock valued at $6,546,000 after buying an additional 255 shares in the last quarter. Ameriprise Financial Inc. grew its holdings in CDW by 0.7% during the 3rd quarter. Ameriprise Financial Inc. now owns 150,209 shares of the information technology services provider’s stock valued at $23,924,000 after buying an additional 1,052 shares in the last quarter. Finally, Harvest Fund Management Co. Ltd grew its holdings in CDW by 7.4% during the 3rd quarter. Harvest Fund Management Co. Ltd now owns 8,044 shares of the information technology services provider’s stock valued at $1,281,000 after buying an additional 556 shares in the last quarter. Hedge funds and other institutional investors own 93.15% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on CDW. Evercore reaffirmed an “outperform” rating and issued a $180.00 price objective on shares of CDW in a research note on Tuesday, January 20th. Barclays lowered their price objective on CDW from $148.00 to $144.00 and set an “equal weight” rating for the company in a research note on Thursday, February 5th. JPMorgan Chase & Co. lowered their price objective on CDW from $170.00 to $160.00 and set a “neutral” rating for the company in a research note on Thursday, February 5th. Citigroup raised their price objective on CDW from $148.00 to $150.00 and gave the company a “neutral” rating in a research note on Thursday, February 5th. Finally, Morgan Stanley raised their price target on CDW from $141.00 to $142.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 5th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $160.43.

CDW Price Performance

Shares of CDW stock opened at $123.47 on Tuesday. CDW Corporation has a 52-week low of $112.98 and a 52-week high of $192.30. The company has a debt-to-equity ratio of 1.77, a quick ratio of 1.10 and a current ratio of 1.18. The firm has a market capitalization of $15.80 billion, a P/E ratio of 15.26, a P/E/G ratio of 1.69 and a beta of 1.02. The stock has a 50 day moving average price of $124.55 and a 200 day moving average price of $138.05.

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

CDW Dividend Announcement

The company also recently announced 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. The ex-dividend date of this dividend was Wednesday, February 25th. This represents a $2.52 dividend on an annualized basis and a yield of 2.0%. CDW’s payout ratio is 31.15%.

CDW Profile

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.