Global Assets Advisory LLC Buys New Shares in CDW Co. (NASDAQ:CDW)

Global Assets Advisory LLC purchased a new stake in shares of CDW Co. (NASDAQ:CDWFree Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 39,224 shares of the information technology services provider’s stock, valued at approximately $10,033,000.

Several other large investors have also recently added to or reduced their stakes in the company. Envestnet Portfolio Solutions Inc. bought a new position in CDW in the third quarter worth $875,000. Acadian Asset Management LLC raised its stake in shares of CDW by 635.3% in the 3rd quarter. Acadian Asset Management LLC now owns 7,860 shares of the information technology services provider’s stock valued at $1,583,000 after buying an additional 6,791 shares in the last quarter. LPL Financial LLC lifted its holdings in shares of CDW by 8.1% during the 3rd quarter. LPL Financial LLC now owns 34,257 shares of the information technology services provider’s stock worth $6,912,000 after acquiring an additional 2,557 shares during the period. Ontario Teachers Pension Plan Board boosted its position in shares of CDW by 58.7% during the 3rd quarter. Ontario Teachers Pension Plan Board now owns 2,233 shares of the information technology services provider’s stock valued at $451,000 after acquiring an additional 826 shares in the last quarter. Finally, Stifel Financial Corp increased its stake in CDW by 0.3% in the third quarter. Stifel Financial Corp now owns 83,106 shares of the information technology services provider’s stock valued at $16,768,000 after acquiring an additional 211 shares during the period. Institutional investors and hedge funds own 93.15% of the company’s stock.

CDW Trading Down 1.6 %

Shares of CDW stock traded down $3.88 during trading hours on Monday, reaching $231.61. The company had a trading volume of 701,366 shares, compared to its average volume of 761,668. The company has a debt-to-equity ratio of 2.35, a current ratio of 1.26 and a quick ratio of 1.13. CDW Co. has a 1-year low of $170.96 and a 1-year high of $263.37. The company has a 50 day moving average of $228.61 and a 200 day moving average of $233.52. The firm has a market cap of $31.13 billion, a price-to-earnings ratio of 29.24, a P/E/G ratio of 3.42 and a beta of 1.06.

CDW (NASDAQ:CDWGet Free Report) last released its earnings results on Wednesday, May 1st. The information technology services provider reported $1.89 earnings per share for the quarter, missing the consensus estimate of $2.04 by ($0.15). The company had revenue of $4.87 billion during the quarter, compared to analyst estimates of $4.94 billion. CDW had a net margin of 5.16% and a return on equity of 67.56%. On average, equities research analysts anticipate that CDW Co. will post 9.67 EPS for the current year.

CDW Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 11th. Shareholders of record on Friday, May 24th were paid a $0.62 dividend. This represents a $2.48 annualized dividend and a dividend yield of 1.07%. The ex-dividend date was Thursday, May 23rd. CDW’s dividend payout ratio is 30.96%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on CDW. Barclays cut their price objective on CDW from $261.00 to $232.00 and set an “equal weight” rating for the company in a report on Thursday, May 2nd. Northcoast Research upgraded CDW from a “neutral” rating to a “buy” rating and set a $270.00 price target on the stock in a research report on Friday, June 7th. JPMorgan Chase & Co. cut their price objective on CDW from $280.00 to $265.00 and set an “overweight” rating for the company in a research report on Thursday, May 2nd. Stifel Nicolaus decreased their target price on CDW from $265.00 to $250.00 and set a “buy” rating on the stock in a report on Thursday, May 2nd. Finally, Evercore ISI lifted their price target on CDW from $250.00 to $300.00 and gave the company an “outperform” rating in a report on Friday, March 22nd. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $250.00.

Get Our Latest Analysis 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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Institutional Ownership by Quarter for CDW (NASDAQ:CDW)

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