Private Trust Co. NA Buys 200 Shares of CDW Co. (NASDAQ:CDW)

Private Trust Co. NA raised its stake in shares of CDW Co. (NASDAQ:CDW) by 10.9% in the 3rd quarter, Holdings Channel reports. The firm owned 2,029 shares of the information technology services provider’s stock after acquiring an additional 200 shares during the period. Private Trust Co. NA’s holdings in CDW were worth $459,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. ORG Partners LLC purchased a new stake in shares of CDW in the second quarter worth about $34,000. Quest Partners LLC purchased a new stake in shares of CDW during the 2nd quarter worth approximately $35,000. Canoe Financial LP purchased a new stake in shares of CDW during the 3rd quarter worth approximately $37,000. Fortitude Family Office LLC grew 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 valued at $39,000 after purchasing an additional 133 shares in the last quarter. Finally, Summit Securities Group LLC bought a new stake in CDW in the second quarter worth $40,000. Hedge funds and other institutional investors own 93.15% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on CDW shares. Redburn Atlantic assumed coverage on shares of CDW in a research report on Friday, November 15th. They set a “buy” rating and a $230.00 price objective for the company. Citigroup downgraded shares of CDW from a “buy” rating to a “neutral” rating and lowered their price target for the company from $250.00 to $245.00 in a report on Tuesday, October 1st. JPMorgan Chase & Co. cut CDW from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $260.00 to $235.00 in a research note on Monday, October 28th. Finally, Barclays lowered their price objective on CDW from $229.00 to $201.00 and set an “equal weight” rating for the company in a research note on Thursday, October 31st. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $244.63.

CDW Stock Down 0.6 %

Shares of NASDAQ:CDW opened at $176.75 on Thursday. The firm has a market capitalization of $23.55 billion, a PE ratio of 21.61, a price-to-earnings-growth ratio of 5.10 and a beta of 1.05. The business has a 50 day simple moving average of $207.78 and a two-hundred day simple moving average of $217.81. CDW Co. has a 1 year low of $172.95 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 quarterly earnings data on Wednesday, October 30th. The information technology services provider reported $2.63 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.68 by ($0.05). The business had revenue of $5.52 billion for the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.60 EPS. On average, equities analysts predict that CDW Co. will post 8.99 EPS for the current year.

CDW Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Monday, November 25th will be issued a $0.625 dividend. The ex-dividend date is Monday, November 25th. This is a boost from CDW’s previous quarterly dividend of $0.62. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.41%. CDW’s dividend payout ratio is presently 30.56%.

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.