ORG Wealth Partners LLC Buys Shares of 398 CDW Co. (NASDAQ:CDW)

ORG Wealth Partners LLC bought a new stake in CDW Co. (NASDAQ:CDW) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 398 shares of the information technology services provider’s stock, valued at approximately $69,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CDW. Commonwealth Equity Services LLC raised its position in CDW by 4.9% in the second quarter. Commonwealth Equity Services LLC now owns 8,118 shares of the information technology services provider’s stock valued at $1,817,000 after purchasing an additional 377 shares during the period. Quest Partners LLC purchased a new stake in CDW in the second quarter valued at $35,000. Daiwa Securities Group Inc. raised its position in CDW by 10.1% in the second quarter. Daiwa Securities Group Inc. now owns 22,379 shares of the information technology services provider’s stock valued at $5,009,000 after purchasing an additional 2,056 shares during the period. Headlands Technologies LLC raised its position in CDW by 6.5% in the second quarter. Headlands Technologies LLC now owns 1,074 shares of the information technology services provider’s stock valued at $240,000 after purchasing an additional 66 shares during the period. Finally, AGF Management Ltd. raised its holdings in shares of CDW by 9.8% in the 2nd quarter. AGF Management Ltd. now owns 10,190 shares of the information technology services provider’s stock valued at $2,281,000 after buying an additional 912 shares during the period. Hedge funds and other institutional investors own 93.15% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on CDW shares. Barclays cut their price objective on CDW from $229.00 to $201.00 and set an “equal weight” rating on the stock in a report on Thursday, October 31st. Redburn Atlantic started coverage on CDW in a report on Friday, November 15th. They issued a “buy” rating and a $230.00 price objective on the stock. Citigroup downgraded CDW from a “buy” rating to a “neutral” rating and cut their price objective for the company from $250.00 to $245.00 in a report on Tuesday, October 1st. JPMorgan Chase & Co. downgraded CDW from an “overweight” rating to a “neutral” rating and cut their price objective for the company from $260.00 to $235.00 in a report on Monday, October 28th. Finally, UBS Group cut their price objective on CDW from $233.00 to $220.00 and set a “buy” rating on the stock in a report on Tuesday. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $239.33.

CDW Trading Up 1.0 %

CDW opened at $183.14 on Friday. CDW Co. has a 12 month low of $168.43 and a 12 month high of $263.37. The stock has a market capitalization of $24.41 billion, a price-to-earnings ratio of 22.39, a PEG ratio of 5.01 and a beta of 1.01. 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 business has a fifty day moving average price of $180.40 and a 200 day moving average price of $206.98.

CDW (NASDAQ:CDW) last released its earnings results on Wednesday, October 30th. The information technology services provider reported $2.63 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 analyst estimates of $5.72 billion. CDW had a return on equity of 58.31% and a net margin of 5.33%. The company’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 firm earned $2.60 earnings per share. Sell-side analysts expect that CDW Co. will post 8.99 earnings per share for the current fiscal year.

CDW Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Monday, November 25th were given a dividend of $0.625 per share. This is a boost from CDW’s previous quarterly dividend of $0.62. This represents a $2.50 annualized dividend and a dividend yield of 1.37%. The ex-dividend date of this dividend was Monday, November 25th. CDW’s dividend payout ratio is currently 30.56%.

CDW 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.