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

Healthcare of Ontario Pension Plan Trust Fund boosted its position in shares of CDW Co. (NASDAQ:CDW) by 667.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 95,393 shares of the information technology services provider’s stock after buying an additional 82,970 shares during the period. Healthcare of Ontario Pension Plan Trust Fund’s holdings in CDW were worth $21,587,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in CDW. ORG Partners LLC bought a new stake in CDW in the second quarter worth $34,000. Quest Partners LLC bought a new position in shares of CDW in the 2nd quarter valued at about $35,000. Canoe Financial LP bought a new stake in CDW during the third quarter worth approximately $37,000. Fortitude Family Office LLC raised its position 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 valued at $39,000 after purchasing an additional 133 shares during the period. Finally, Summit Securities Group LLC bought a new stake in shares of CDW in the 2nd quarter valued at approximately $40,000. Institutional investors own 93.15% of the company’s stock.

CDW Trading Down 0.6 %

NASDAQ CDW opened at $176.75 on Friday. The company has a quick ratio of 1.28, a current ratio of 1.40 and a debt-to-equity ratio of 2.39. The firm 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 52 week low of $172.95 and a 52 week high of $263.37. The company has a 50 day moving average price of $206.88 and a 200 day moving average price of $217.52.

CDW (NASDAQ:CDW) last issued its quarterly earnings results on Wednesday, October 30th. The information technology services provider reported $2.63 earnings per share for the quarter, missing the consensus estimate of $2.68 by ($0.05). The business had revenue of $5.52 billion during the quarter, compared to analyst estimates of $5.72 billion. CDW had a return on equity of 58.31% and a net margin of 5.33%. CDW’s quarterly revenue was down 2.0% compared to the same quarter last year. During the same quarter last year, the company posted $2.60 EPS. As a group, sell-side analysts forecast 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 will be paid on Tuesday, December 10th. Stockholders of record on Monday, November 25th will be given a $0.625 dividend. The ex-dividend date of this dividend is Monday, November 25th. This is a boost from CDW’s previous quarterly dividend of $0.62. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.41%. CDW’s payout ratio is 30.56%.

Analyst Ratings Changes

Several research analysts have commented on the stock. Redburn Atlantic began coverage on shares of CDW in a research note on Friday, November 15th. They set a “buy” rating and a $230.00 price objective for the company. JPMorgan Chase & Co. downgraded shares of CDW from an “overweight” rating to a “neutral” rating and cut their price target for the company from $260.00 to $235.00 in a report on Monday, October 28th. Barclays decreased their price objective 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. Finally, Citigroup cut CDW from a “buy” rating to a “neutral” rating and cut their target price for the company from $250.00 to $245.00 in a research note on Tuesday, October 1st. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $244.63.

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.