Diversify Wealth Management LLC Acquires 1,011 Shares of CDW Co. (NASDAQ:CDW)

Diversify Wealth Management LLC grew its position in shares of CDW Co. (NASDAQ:CDW) by 45.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,232 shares of the information technology services provider’s stock after acquiring an additional 1,011 shares during the period. Diversify Wealth Management LLC’s holdings in CDW were worth $592,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Canoe Financial LP bought a new position in shares of CDW during the third quarter valued at about $37,000. Fortitude Family Office LLC raised its stake 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 in the last quarter. Ashton Thomas Securities LLC bought a new position in CDW in the third quarter worth about $43,000. Covestor Ltd raised its stake in CDW by 80.1% in the third quarter. Covestor Ltd now owns 245 shares of the information technology services provider’s stock worth $55,000 after buying an additional 109 shares in the last quarter. Finally, Kimelman & Baird LLC bought a new position in CDW in the second quarter worth about $56,000. 93.15% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on CDW. UBS Group decreased their price target on shares of CDW from $233.00 to $220.00 and set a “buy” rating for the company in a research note on Tuesday, January 7th. Barclays cut their price objective 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 cut their price objective for the stock 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 cut their price objective for the stock from $260.00 to $235.00 in a report on Monday, October 28th. Finally, Morgan Stanley increased their price target on shares of CDW from $190.00 to $193.00 and gave the company an “equal weight” rating in a report on Monday, December 16th. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, CDW currently has an average rating of “Moderate Buy” and an average target price of $239.33.

CDW Stock Up 1.5 %

Shares of CDW stock opened at $191.59 on Wednesday. The company has a market capitalization of $25.53 billion, a price-to-earnings ratio of 23.42, a PEG ratio of 5.11 and a beta of 1.01. CDW Co. has a one year low of $168.43 and a one year high of $263.37. The company’s fifty day moving average price is $178.94 and its 200-day moving average price is $204.80. 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 announced its quarterly earnings data 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 firm 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%. The firm’s revenue for the quarter was down 2.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.60 earnings per share. Sell-side analysts expect that CDW Co. will post 8.99 EPS for the current fiscal year.

CDW Increases Dividend

The company 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 represents a $2.50 annualized dividend and a dividend yield of 1.30%. This is an increase from CDW’s previous quarterly dividend of $0.62. The ex-dividend date was Monday, November 25th. CDW’s dividend payout ratio (DPR) is presently 30.56%.

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.