Entropy Technologies LP Grows Position in CDW Corporation $CDW

Entropy Technologies LP grew its position in CDW Corporation (NASDAQ:CDW) by 1,094.3% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 22,370 shares of the information technology services provider’s stock after acquiring an additional 20,497 shares during the quarter. Entropy Technologies LP’s holdings in CDW were worth $3,563,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Root Financial Partners LLC bought a new position in shares of CDW during the 3rd quarter valued at approximately $26,000. Cary Street Partners Investment Advisory LLC increased its position 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 worth $255,000 after purchasing an additional 192 shares during the last quarter. Empowered Funds LLC increased its position in CDW by 1.2% in the first quarter. Empowered Funds LLC now owns 18,076 shares of the information technology services provider’s stock worth $2,897,000 after purchasing an additional 216 shares during the last quarter. Covestor Ltd raised its stake in CDW by 87.9% during the third quarter. Covestor Ltd now owns 483 shares of the information technology services provider’s stock valued at $77,000 after purchasing an additional 226 shares in the last quarter. Finally, Hennessy Advisors Inc. lifted its position in CDW by 1.8% during the third quarter. Hennessy Advisors Inc. now owns 15,003 shares of the information technology services provider’s stock valued at $2,390,000 after purchasing an additional 270 shares during the last quarter. 93.15% of the stock is currently owned by institutional investors.

CDW Trading Down 4.6%

Shares of CDW opened at $113.48 on Friday. CDW Corporation has a twelve month low of $112.98 and a twelve month high of $192.30. The company has a market cap of $14.64 billion, a P/E ratio of 14.03, a P/E/G ratio of 1.64 and a beta of 1.06. The company has a current ratio of 1.18, a quick ratio of 1.10 and a debt-to-equity ratio of 1.77. The company’s fifty day simple moving average is $128.29 and its 200-day simple moving average is $143.84.

CDW (NASDAQ:CDW) last released its quarterly earnings results on Wednesday, February 4th. The information technology services provider reported $2.57 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 analysts’ expectations of $5.33 billion. CDW had a net margin of 4.76% and a return on equity of 50.66%. The firm’s revenue for the quarter was up 6.3% compared to the same quarter last year. During the same period in the previous year, the company earned $2.48 EPS. As a group, analysts expect that CDW Corporation will post 9.41 EPS for the current year.

CDW Dividend Announcement

The firm 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. This represents a $2.52 annualized dividend and a dividend yield of 2.2%. The ex-dividend date was Wednesday, February 25th. CDW’s payout ratio is 31.15%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Raymond James Financial raised shares of CDW from an “outperform” rating to a “strong-buy” rating and set a $185.00 price objective for the company in a research note on Tuesday, November 25th. Evercore reaffirmed an “outperform” rating and issued a $180.00 price target on shares of CDW in a report on Tuesday, January 20th. JPMorgan Chase & Co. dropped their price target on CDW from $170.00 to $160.00 and set a “neutral” rating for the company in a research report on Thursday, February 5th. Barclays reduced their price objective on CDW from $148.00 to $144.00 and set an “equal weight” rating on the stock in a research note on Thursday, February 5th. Finally, Citigroup upped their price objective on CDW from $148.00 to $150.00 and gave the company a “neutral” rating in a research report on Thursday, February 5th. One investment 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 company’s stock. According to MarketBeat, CDW presently has an average rating of “Moderate Buy” and an average price target of $160.43.

CDW Company 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.