CDW Co. (NASDAQ:CDW) Shares Bought by Fortitude Family Office LLC

Fortitude Family Office LLC increased its holdings in CDW Co. (NASDAQ:CDW) by 350.0% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 171 shares of the information technology services provider’s stock after acquiring an additional 133 shares during the quarter. Fortitude Family Office LLC’s holdings in CDW were worth $39,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. China Universal Asset Management Co. Ltd. raised its holdings in CDW by 109.7% in the third quarter. China Universal Asset Management Co. Ltd. now owns 1,694 shares of the information technology services provider’s stock valued at $383,000 after acquiring an additional 886 shares in the last quarter. abrdn plc increased its position in shares of CDW by 31.4% in the 3rd quarter. abrdn plc now owns 54,725 shares of the information technology services provider’s stock worth $12,409,000 after purchasing an additional 13,079 shares during the last quarter. Orrstown Financial Services Inc. acquired a new stake in shares of CDW in the 3rd quarter valued at about $308,000. Canoe Financial LP bought a new position in shares of CDW during the third quarter worth about $37,000. Finally, Custom Index Systems LLC acquired a new position in CDW in the third quarter worth about $215,000. Hedge funds and other institutional investors own 93.15% of the company’s stock.

Insiders Place Their Bets

In other CDW news, insider Christine A. Leahy purchased 1,200 shares of the business’s stock in a transaction dated Thursday, August 1st. The shares were bought at an average price of $216.15 per share, with a total value of $259,380.00. Following the completion of the acquisition, the insider now owns 102,200 shares in the company, valued at approximately $22,090,530. This represents a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.90% of the stock is owned by insiders.

CDW Trading Up 0.6 %

NASDAQ:CDW opened at $219.90 on Wednesday. CDW Co. has a 12-month low of $185.04 and a 12-month high of $263.37. The company has a debt-to-equity ratio of 2.03, a current ratio of 1.13 and a quick ratio of 1.02. The business has a 50 day simple moving average of $221.46 and a 200 day simple moving average of $224.17. The firm has a market capitalization of $29.55 billion, a P/E ratio of 27.45, a P/E/G ratio of 3.42 and a beta of 1.03.

CDW (NASDAQ:CDW) last announced its quarterly earnings results 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). CDW had a net margin of 5.29% and a return on equity of 62.22%. The firm had revenue of $5.42 billion for the quarter, compared to analyst estimates of $5.43 billion. During the same period last year, the firm posted $2.43 EPS. The business’s revenue was down 3.6% compared to the same quarter last year. Equities research analysts predict that CDW Co. will post 9.4 EPS for the current year.

CDW Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Monday, August 26th were paid a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a yield of 1.13%. The ex-dividend date of this dividend was Monday, August 26th. CDW’s payout ratio is 30.96%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on CDW shares. Stifel Nicolaus upped their price objective on CDW from $250.00 to $260.00 and gave the company a “buy” rating in a research note on Wednesday, July 17th. Barclays dropped their price target on CDW from $232.00 to $229.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 1st. Citigroup cut CDW from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $250.00 to $245.00 in a research note on Tuesday, October 1st. Finally, JPMorgan Chase & Co. lowered shares of CDW from an “overweight” rating to a “neutral” rating and lowered their target price for the company from $260.00 to $235.00 in a research note on Monday. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $250.71.

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.