Fortem Financial Group LLC acquired a new position in shares of CDW Co. (NASDAQ:CDW - Free Report) during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund acquired 4,690 shares of the information technology services provider's stock, valued at approximately $1,061,000.
Several other large investors have also modified their holdings of CDW. Quest Partners LLC bought a new stake in CDW during the second quarter valued at $35,000. ORG Partners LLC acquired a new stake in CDW during the second quarter worth about $34,000. Canoe Financial LP bought a new position in CDW in the third quarter worth about $37,000. Fortitude Family Office LLC boosted its stake 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 valued at $39,000 after acquiring an additional 133 shares during the period. Finally, Summit Securities Group LLC bought a new position in shares of CDW during the second quarter valued at approximately $40,000. Institutional investors own 93.15% of the company's stock.
CDW Trading Down 0.4 %
CDW stock traded down $0.76 during midday trading on Wednesday, reaching $178.25. The stock had a trading volume of 1,397,515 shares, compared to its average volume of 922,412. The firm's fifty day simple moving average is $198.66 and its two-hundred day simple moving average is $214.40. The company has a debt-to-equity ratio of 2.39, a current ratio of 1.40 and a quick ratio of 1.28. CDW Co. has a twelve month low of $172.95 and a twelve month high of $263.37. The firm has a market cap of $23.75 billion, a price-to-earnings ratio of 21.88, a PEG ratio of 5.06 and a beta of 1.02.
CDW (NASDAQ:CDW - Get Free Report) last announced its quarterly earnings data on Wednesday, October 30th. The information technology services provider reported $2.63 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.68 by ($0.05). CDW had a return on equity of 58.31% and a net margin of 5.33%. The business had revenue of $5.52 billion during the quarter, compared to analysts' expectations of $5.72 billion. During the same period in the prior year, the company posted $2.60 earnings per share. The firm's revenue was down 2.0% on a year-over-year basis. Equities analysts anticipate that CDW Co. will post 8.99 EPS for the current fiscal year.
CDW Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Monday, November 25th were paid a $0.625 dividend. The ex-dividend date of this dividend was Monday, November 25th. This is an increase from CDW's previous quarterly dividend of $0.62. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.40%. CDW's dividend payout ratio is 30.56%.
Analyst Ratings Changes
Several analysts have weighed in on the company. Barclays cut their target price on CDW from $229.00 to $201.00 and set an "equal weight" rating on the stock in a research note on Thursday, October 31st. JPMorgan Chase & Co. cut shares of CDW from an "overweight" rating to a "neutral" rating and cut their price objective for the company from $260.00 to $235.00 in a research note on Monday, October 28th. Redburn Atlantic began coverage on shares of CDW in a research report on Friday, November 15th. They issued a "buy" rating and a $230.00 target price for the company. Finally, Citigroup downgraded shares of CDW from a "buy" rating to a "neutral" rating and dropped their price target for the stock from $250.00 to $245.00 in a research report on Tuesday, October 1st. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, CDW currently has a consensus rating of "Moderate Buy" and an average price target of $244.63.
Check Out Our Latest Research Report on CDW
CDW Company Profile
(
Free Report)
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.
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