Venturi Wealth Management LLC Purchases 624 Shares of CDW Co. (NASDAQ:CDW)

Venturi Wealth Management LLC lifted its position in CDW Co. (NASDAQ:CDW) by 9.5% during the 3rd quarter, Holdings Channel reports. The firm owned 7,189 shares of the information technology services provider’s stock after acquiring an additional 624 shares during the period. Venturi Wealth Management LLC’s holdings in CDW were worth $1,627,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Ashton Thomas Securities LLC bought a new position in shares of CDW in the third quarter worth approximately $43,000. Covestor Ltd boosted its holdings in CDW by 80.1% in the third quarter. Covestor Ltd now owns 245 shares of the information technology services provider’s stock valued at $55,000 after acquiring an additional 109 shares in the last quarter. Tompkins Financial Corp bought a new stake in CDW in the third quarter valued at $113,000. Assetmark Inc. boosted its holdings in CDW by 37.3% in the third quarter. Assetmark Inc. now owns 975 shares of the information technology services provider’s stock valued at $221,000 after acquiring an additional 265 shares in the last quarter. Finally, Portside Wealth Group LLC boosted its holdings in CDW by 22.9% in the third quarter. Portside Wealth Group LLC now owns 1,250 shares of the information technology services provider’s stock valued at $283,000 after acquiring an additional 233 shares in the last quarter. Institutional investors own 93.15% of the company’s stock.

CDW Stock Performance

Shares of CDW stock opened at $197.81 on Tuesday. The stock has a market cap of $26.36 billion, a price-to-earnings ratio of 24.18, a PEG ratio of 5.58 and a beta of 1.05. The firm’s 50-day moving average is $215.94 and its 200 day moving average is $221.41. CDW Co. has a 1 year low of $187.73 and a 1 year high of $263.37. 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 (NASDAQ:CDW) last posted its earnings results 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). The company had revenue of $5.52 billion for the quarter, compared to the consensus estimate of $5.72 billion. CDW had a net margin of 5.33% and a return on equity of 58.31%. CDW’s revenue was down 2.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.60 EPS. Sell-side analysts anticipate that CDW Co. will post 9.05 EPS for the current fiscal year.

CDW Increases Dividend

The business also recently announced 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 of this dividend is Monday, November 25th. This represents a $2.50 annualized dividend and a yield of 1.26%. This is a boost from CDW’s previous quarterly dividend of $0.62. CDW’s dividend payout ratio is currently 30.32%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on CDW. Barclays dropped their target price on shares of CDW from $229.00 to $201.00 and set an “equal weight” rating on the stock in a report on Thursday, October 31st. Citigroup cut shares of CDW from a “buy” rating to a “neutral” rating and dropped their target price for the company from $250.00 to $245.00 in a report on Tuesday, October 1st. JPMorgan Chase & Co. cut shares of CDW from an “overweight” rating to a “neutral” rating and dropped their target price for the company from $260.00 to $235.00 in a report on Monday, October 28th. Finally, Stifel Nicolaus boosted their target price on shares of CDW from $250.00 to $260.00 and gave the company a “buy” rating in a report on Wednesday, July 17th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $246.71.

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.