RiverPark Advisors LLC Increases Holdings in CDW Co. (NASDAQ:CDW)

RiverPark Advisors LLC boosted its position in CDW Co. (NASDAQ:CDW) by 5.8% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,549 shares of the information technology services provider’s stock after purchasing an additional 305 shares during the period. RiverPark Advisors LLC’s holdings in CDW were worth $1,256,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. ORG Partners LLC acquired a new position in shares of CDW during the 2nd quarter worth approximately $34,000. Quest Partners LLC acquired a new position in CDW in the 2nd quarter valued at about $35,000. Canoe Financial LP acquired a new position in CDW in the 3rd quarter valued at about $37,000. Fortitude Family Office LLC raised its stake in CDW by 350.0% in the 3rd 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 during the last quarter. Finally, Summit Securities Group LLC acquired a new position in CDW in the 2nd quarter valued at about $40,000. 93.15% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on CDW shares. Barclays cut their target price on shares of CDW from $229.00 to $201.00 and set an “equal weight” rating for the company in a research note on Thursday, October 31st. JPMorgan Chase & Co. downgraded shares of CDW from an “overweight” rating to a “neutral” rating and cut their target price for the company from $260.00 to $235.00 in a research note on Monday, October 28th. Redburn Atlantic initiated coverage on shares of CDW in a research note on Friday. They set a “buy” rating and a $230.00 price objective for the company. Finally, Citigroup downgraded shares of CDW from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $250.00 to $245.00 in a research note on Tuesday, October 1st. 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.com, CDW presently has an average rating of “Moderate Buy” and an average target price of $244.63.

CDW Stock Down 1.7 %

Shares of NASDAQ:CDW opened at $177.63 on Friday. The company has a debt-to-equity ratio of 2.39, a quick ratio of 1.28 and a current ratio of 1.40. CDW Co. has a 1 year low of $175.94 and a 1 year high of $263.37. The stock has a market capitalization of $23.67 billion, a P/E ratio of 21.72, a PEG ratio of 4.96 and a beta of 1.05. The stock has a 50-day simple moving average of $213.49 and a 200-day simple moving average of $219.90.

CDW (NASDAQ:CDW) last released its quarterly earnings results on Wednesday, October 30th. The information technology services provider reported $2.63 earnings per share for the quarter, missing analysts’ consensus estimates of $2.68 by ($0.05). The company had revenue of $5.52 billion during the quarter, compared to analysts’ expectations of $5.72 billion. CDW had a return on equity of 58.31% and a net margin of 5.33%. The firm’s revenue was down 2.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.60 EPS. Equities analysts forecast that CDW Co. will post 9.05 earnings per share for the current year.

CDW Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Monday, November 25th will be issued a $0.625 dividend. This represents a $2.50 dividend on an annualized basis and a yield of 1.41%. The ex-dividend date of this dividend is Monday, November 25th. This is a boost from CDW’s previous quarterly dividend of $0.62. CDW’s dividend payout ratio is currently 30.32%.

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.