Romano Brothers AND Company Has $503,000 Stake in CDW Co. (NASDAQ:CDW)

Romano Brothers AND Company lowered its stake in shares of CDW Co. (NASDAQ:CDW) by 2.6% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,222 shares of the information technology services provider’s stock after selling 60 shares during the period. Romano Brothers AND Company’s holdings in CDW were worth $503,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of the stock. Tsfg LLC acquired a new stake in CDW during the 1st quarter worth $26,000. Quest Partners LLC bought a new position in shares of CDW during the 2nd quarter valued at about $35,000. ORG Partners LLC acquired a new position in shares of CDW in the 2nd quarter valued at approximately $34,000. Summit Securities Group LLC bought a new stake in CDW during the 2nd quarter worth approximately $40,000. Finally, Continuum Advisory LLC raised its holdings in CDW by 1,692.3% during the 2nd quarter. Continuum Advisory LLC now owns 233 shares of the information technology services provider’s stock worth $52,000 after buying an additional 220 shares during the period. 93.15% of the stock is currently owned by institutional investors and hedge funds.

CDW Stock Up 0.7 %

Shares of CDW stock opened at $219.16 on Friday. The firm’s fifty day moving average price is $221.62 and its two-hundred day moving average price is $225.16. CDW Co. has a 1 year low of $185.04 and a 1 year high of $263.37. The company has a current ratio of 1.13, a quick ratio of 1.02 and a debt-to-equity ratio of 2.03. The firm has a market capitalization of $29.45 billion, a P/E ratio of 27.36, a PEG ratio of 3.42 and a beta of 1.03.

CDW (NASDAQ:CDW) last released its earnings results on Wednesday, July 31st. The information technology services provider reported $2.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.39 by ($0.05). CDW had a net margin of 5.29% and a return on equity of 62.22%. The company had revenue of $5.42 billion during the quarter, compared to analyst estimates of $5.43 billion. During the same period in the prior year, the firm posted $2.43 EPS. CDW’s revenue was down 3.6% compared to the same quarter last year. On average, equities analysts predict that CDW Co. will post 9.4 EPS for the current fiscal year.

CDW Announces Dividend

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

Analysts Set New Price Targets

CDW has been the subject of several research reports. Citigroup downgraded shares of CDW from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $250.00 to $245.00 in a research report on Tuesday, October 1st. Barclays lowered their target price on CDW from $232.00 to $229.00 and set an “equal weight” rating for the company in a report on Thursday, August 1st. Finally, Stifel Nicolaus boosted their price target on CDW from $250.00 to $260.00 and gave the company a “buy” rating in a report on Wednesday, July 17th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, CDW has a consensus rating of “Moderate Buy” and an average price target of $255.00.

Insider Buying and Selling

In other news, insider Christine A. Leahy purchased 1,200 shares of the business’s stock in a transaction on Thursday, August 1st. The stock was purchased at an average price of $216.15 per share, for a total transaction of $259,380.00. Following the completion of the purchase, the insider now directly owns 102,200 shares in the company, valued at $22,090,530. The trade was a 0.00 % increase in their position. The purchase 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 corporate insiders.

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.