Princeton Global Asset Management LLC Grows Stock Position in CDW Co. (NASDAQ:CDW)

Princeton Global Asset Management LLC boosted its position in CDW Co. (NASDAQ:CDW) by 2.9% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 13,245 shares of the information technology services provider’s stock after buying an additional 379 shares during the quarter. Princeton Global Asset Management LLC’s holdings in CDW were worth $2,997,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of CDW. ORG Partners LLC purchased a new stake in CDW in the second quarter worth $34,000. Quest Partners LLC purchased a new stake in CDW in the second quarter worth $35,000. Canoe Financial LP purchased a new stake in CDW in the third quarter worth $37,000. Fortitude Family Office LLC increased its position 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 worth $39,000 after buying an additional 133 shares during the last quarter. Finally, Summit Securities Group LLC purchased a new stake in CDW in the second quarter worth $40,000. 93.15% of the stock is owned by hedge funds and other institutional investors.

CDW Price Performance

NASDAQ:CDW opened at $188.38 on Friday. The firm has a market capitalization of $25.16 billion, a price-to-earnings ratio of 23.03, a P/E/G ratio of 2.96 and a beta of 1.03. CDW Co. has a 52-week low of $187.73 and a 52-week high of $263.37. The stock has a fifty day moving average of $219.30 and a 200 day moving average of $223.35. The company has a debt-to-equity ratio of 2.39, a quick ratio of 1.02 and a current ratio of 1.40.

CDW (NASDAQ:CDW) last posted its quarterly earnings data on Wednesday, July 31st. The information technology services provider reported $2.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.39 by ($0.05). The business had revenue of $5.42 billion for the quarter, compared to the consensus estimate of $5.43 billion. CDW had a net margin of 5.33% and a return on equity of 58.31%. CDW’s quarterly revenue was down 3.6% on a year-over-year basis. During the same period in the prior year, the business posted $2.43 EPS. On average, research analysts expect that CDW Co. will post 9.38 EPS for the current fiscal year.

CDW Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Monday, November 25th will be paid a dividend of $0.625 per share. The ex-dividend date is Monday, November 25th. This represents a $2.50 annualized dividend and a yield of 1.33%. This is a positive change from CDW’s previous quarterly dividend of $0.62. CDW’s payout ratio is 30.32%.

Wall Street Analyst Weigh In

A number of analysts have issued reports on CDW shares. Barclays decreased their target price on CDW from $229.00 to $201.00 and set an “equal weight” rating for the company in a research report on Thursday. JPMorgan Chase & Co. cut CDW from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $260.00 to $235.00 in a research report on Monday, October 28th. Stifel Nicolaus lifted their price target on CDW from $250.00 to $260.00 and gave the company a “buy” rating in a research report on Wednesday, July 17th. Finally, Citigroup cut CDW from a “buy” rating to a “neutral” rating and reduced their price target for the company 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 three have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $246.71.

CDW Company Profile

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.