Tudor Investment Corp ET AL Sells 32,437 Shares of CDW Corporation $CDW

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

A number of other large investors also recently added to or reduced their stakes in CDW. Root Financial Partners LLC acquired a new stake in CDW during the 3rd quarter worth $26,000. Cary Street Partners Investment Advisory LLC lifted its stake in CDW by 15.5% in the second quarter. Cary Street Partners Investment Advisory LLC now owns 1,427 shares of the information technology services provider’s stock valued at $255,000 after buying an additional 192 shares in the last quarter. Empowered Funds LLC increased its position in shares of CDW by 1.2% during the first quarter. Empowered Funds LLC now owns 18,076 shares of the information technology services provider’s stock worth $2,897,000 after acquiring an additional 216 shares in the last quarter. Covestor Ltd increased its position in shares of CDW by 87.9% during the third quarter. Covestor Ltd now owns 483 shares of the information technology services provider’s stock worth $77,000 after acquiring an additional 226 shares in the last quarter. Finally, Public Employees Retirement System of Ohio raised its holdings in shares of CDW by 0.6% during the third quarter. Public Employees Retirement System of Ohio now owns 41,100 shares of the information technology services provider’s stock worth $6,546,000 after acquiring an additional 255 shares during the period. 93.15% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Barclays dropped their target price on shares of CDW from $148.00 to $144.00 and set an “equal weight” rating on the stock in a report on Thursday, February 5th. Evercore reissued an “outperform” rating and set a $180.00 target price on shares of CDW in a report on Tuesday, January 20th. Morgan Stanley upped their price objective on shares of CDW from $141.00 to $142.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 5th. Weiss Ratings reissued a “hold (c-)” rating on shares of CDW in a research note on Tuesday, January 27th. Finally, Citigroup boosted their target price on CDW from $148.00 to $150.00 and gave the stock a “neutral” 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 assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $160.43.

CDW Price Performance

CDW opened at $123.47 on Tuesday. The company has a debt-to-equity ratio of 1.77, a quick ratio of 1.10 and a current ratio of 1.18. CDW Corporation has a 52-week low of $112.98 and a 52-week high of $192.30. The stock has a market capitalization of $15.80 billion, a PE ratio of 15.26, a price-to-earnings-growth ratio of 1.69 and a beta of 1.02. The stock’s 50 day moving average price is $124.55 and its 200-day moving average price is $138.05.

CDW (NASDAQ:CDW) last released its quarterly earnings results on Wednesday, February 4th. The information technology services provider reported $2.57 earnings per share for the quarter, beating the consensus estimate of $2.44 by $0.13. CDW had a return on equity of 50.66% and a net margin of 4.76%.The company had revenue of $5.51 billion for the quarter, compared to analyst estimates of $5.33 billion. During the same period in the previous year, the company posted $2.48 earnings per share. The firm’s revenue was up 6.3% on a year-over-year basis. On average, equities research analysts predict that CDW Corporation will post 9.41 EPS for the current year.

CDW Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 10th. Shareholders of record on Wednesday, February 25th were issued a $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 2.0%. The ex-dividend date of this dividend was Wednesday, February 25th. CDW’s payout ratio is 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.