Franklin Street Advisors Inc. NC Purchases New Holdings in CDW Co. (NASDAQ:CDW)

Franklin Street Advisors Inc. NC acquired a new position in CDW Co. (NASDAQ:CDW) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 783 shares of the information technology services provider’s stock, valued at approximately $200,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Acadian Asset Management LLC grew its holdings in shares of CDW by 635.3% during the third quarter. Acadian Asset Management LLC now owns 7,860 shares of the information technology services provider’s stock valued at $1,583,000 after buying an additional 6,791 shares during the last quarter. LPL Financial LLC raised its stake in shares of CDW by 8.1% in the third quarter. LPL Financial LLC now owns 34,257 shares of the information technology services provider’s stock worth $6,912,000 after purchasing an additional 2,557 shares during the last quarter. Stifel Financial Corp boosted its position in shares of CDW by 0.3% during the third quarter. Stifel Financial Corp now owns 83,106 shares of the information technology services provider’s stock valued at $16,768,000 after buying an additional 211 shares during the last quarter. Cary Street Partners Investment Advisory LLC raised its position in CDW by 84.3% in the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 282 shares of the information technology services provider’s stock worth $57,000 after buying an additional 129 shares during the last quarter. Finally, Meiji Yasuda Asset Management Co Ltd. lifted its stake in CDW by 51.6% during the 3rd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 1,998 shares of the information technology services provider’s stock valued at $403,000 after acquiring an additional 680 shares during the period. Institutional investors own 93.15% of the company’s stock.

Analyst Upgrades and Downgrades

CDW has been the subject of several research reports. Northcoast Research raised shares of CDW from a “neutral” rating to a “buy” rating and set a $270.00 price objective for the company in a report on Friday, June 7th. JPMorgan Chase & Co. lowered their price objective on CDW from $280.00 to $265.00 and set an “overweight” rating on the stock in a research report on Thursday, May 2nd. Evercore ISI raised their price target on CDW from $250.00 to $300.00 and gave the company an “outperform” rating in a report on Friday, March 22nd. Citigroup lowered their price target on shares of CDW from $295.00 to $260.00 and set a “buy” rating for the company in a report on Thursday, May 2nd. Finally, Barclays lowered their target price on shares of CDW from $261.00 to $232.00 and set an “equal weight” rating for the company in a report on Thursday, May 2nd. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, CDW has a consensus rating of “Moderate Buy” and a consensus price target of $250.00.

CDW Trading Up 0.4 %

Shares of NASDAQ:CDW opened at $224.06 on Friday. The company has a current ratio of 1.26, a quick ratio of 1.13 and a debt-to-equity ratio of 2.35. The company has a market capitalization of $30.11 billion, a PE ratio of 27.97, a P/E/G ratio of 3.29 and a beta of 1.06. CDW Co. has a 12-month low of $176.05 and a 12-month high of $263.37. The business’s fifty day simple moving average is $227.60 and its 200-day simple moving average is $233.59.

CDW (NASDAQ:CDW) last posted its quarterly earnings data on Wednesday, May 1st. The information technology services provider reported $1.89 EPS for the quarter, missing the consensus estimate of $2.04 by ($0.15). CDW had a return on equity of 67.56% and a net margin of 5.16%. The firm had revenue of $4.87 billion for the quarter, compared to the consensus estimate of $4.94 billion. As a group, equities research analysts predict that CDW Co. will post 9.67 earnings per share for the current fiscal year.

CDW Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 11th. Shareholders of record on Friday, May 24th were given a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a yield of 1.11%. The ex-dividend date was Thursday, May 23rd. CDW’s dividend payout ratio is currently 30.96%.

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.