Milestone Asset Management LLC Grows Holdings in CDW Co. (NASDAQ:CDW)

Milestone Asset Management LLC lifted its holdings in CDW Co. (NASDAQ:CDW - Free Report) by 77.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 9,555 shares of the information technology services provider's stock after buying an additional 4,156 shares during the quarter. Milestone Asset Management LLC's holdings in CDW were worth $1,663,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Canoe Financial LP purchased a new stake in shares of CDW in the third quarter worth approximately $37,000. Fortitude Family Office LLC raised its holdings in shares of CDW by 350.0% in the third quarter. Fortitude Family Office LLC now owns 171 shares of the information technology services provider's stock worth $39,000 after buying an additional 133 shares during the period. Ashton Thomas Securities LLC purchased a new stake in shares of CDW in the third quarter worth approximately $43,000. Covestor Ltd raised its holdings in shares of CDW by 80.1% in the third quarter. Covestor Ltd now owns 245 shares of the information technology services provider's stock worth $55,000 after buying an additional 109 shares during the period. Finally, Quarry LP purchased a new stake in shares of CDW in the second quarter worth approximately $81,000. 93.15% of the stock is currently owned by hedge funds and other institutional investors.

CDW Stock Up 1.5 %

NASDAQ CDW traded up $2.94 during midday trading on Thursday, hitting $198.47. 521,158 shares of the company traded hands, compared to its average volume of 1,241,264. The company has a debt-to-equity ratio of 2.39, a current ratio of 1.40 and a quick ratio of 1.28. The company has a market cap of $26.45 billion, a PE ratio of 24.24, a price-to-earnings-growth ratio of 5.26 and a beta of 1.01. The company's 50-day simple moving average is $180.92 and its 200-day simple moving average is $203.85. CDW Co. has a 52 week low of $168.43 and a 52 week high of $263.37.

CDW (NASDAQ:CDW - Get Free Report) last posted its quarterly earnings data on Wednesday, October 30th. The information technology services provider reported $2.63 earnings per share for the quarter, missing analysts' consensus estimates 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%. The firm's revenue for the quarter was down 2.0% compared to the same quarter last year. During the same period in the previous year, the business earned $2.60 EPS. As a group, equities research analysts forecast that CDW Co. will post 8.99 earnings per share for the current year.

CDW Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Monday, November 25th were paid a $0.625 dividend. This is a positive change from CDW's previous quarterly dividend of $0.62. The ex-dividend date of this dividend was Monday, November 25th. This represents a $2.50 dividend on an annualized basis and a yield of 1.26%. CDW's dividend payout ratio (DPR) is 30.56%.

Analyst Ratings Changes

CDW has been the topic of several research analyst reports. Redburn Atlantic initiated coverage on CDW in a research note on Friday, November 15th. They issued a "buy" rating and a $230.00 price objective on the stock. Barclays dropped their price objective 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. UBS Group dropped their price objective on CDW from $233.00 to $220.00 and set a "buy" rating on the stock in a research note on Tuesday, January 7th. Morgan Stanley increased their price objective on CDW from $190.00 to $193.00 and gave the stock an "equal weight" rating in a research note on Monday, December 16th. Finally, JPMorgan Chase & Co. cut CDW from an "overweight" rating to a "neutral" rating and dropped their price objective for the stock from $260.00 to $235.00 in a research note on Monday, October 28th. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $239.33.

About CDW

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.