1,291 Shares in CDW Co. (NASDAQ:CDW) Bought by Lake Street Private Wealth LLC

Lake Street Private Wealth LLC bought a new position in CDW Co. (NASDAQ:CDW) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 1,291 shares of the information technology services provider’s stock, valued at approximately $330,000.

Several other large investors have also made changes to their positions in the company. Wellington Management Group LLP raised its position in shares of CDW by 29.1% in the 4th quarter. Wellington Management Group LLP now owns 3,464,886 shares of the information technology services provider’s stock worth $787,638,000 after buying an additional 781,421 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in CDW by 4.9% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,380,123 shares of the information technology services provider’s stock valued at $299,901,000 after purchasing an additional 64,140 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in CDW by 3.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,135,792 shares of the information technology services provider’s stock valued at $258,196,000 after purchasing an additional 33,235 shares in the last quarter. American Century Companies Inc. increased its holdings in CDW by 2.5% in the 3rd quarter. American Century Companies Inc. now owns 832,548 shares of the information technology services provider’s stock valued at $167,975,000 after purchasing an additional 20,152 shares in the last quarter. Finally, California Public Employees Retirement System increased its holdings in CDW by 0.4% in the 4th quarter. California Public Employees Retirement System now owns 822,093 shares of the information technology services provider’s stock valued at $186,878,000 after purchasing an additional 3,082 shares in the last quarter. 93.15% of the stock is owned by hedge funds and other institutional investors.

CDW Stock Down 0.5 %

Shares of CDW stock opened at $218.11 on Friday. The business has a 50-day moving average of $225.61 and a 200-day moving average of $233.62. The company has a debt-to-equity ratio of 2.35, a current ratio of 1.26 and a quick ratio of 1.13. The company has a market capitalization of $29.31 billion, a PE ratio of 27.23, a P/E/G ratio of 3.23 and a beta of 1.04. CDW Co. has a 1-year low of $180.38 and a 1-year high of $263.37.

CDW (NASDAQ:CDW) last issued its quarterly earnings results 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 company had revenue of $4.87 billion for the quarter, compared to the consensus estimate of $4.94 billion. As a group, equities analysts forecast that CDW Co. will post 9.67 EPS for the current fiscal year.

CDW Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 11th. Stockholders of record on Friday, May 24th were given a dividend of $0.62 per share. The ex-dividend date was Thursday, May 23rd. This represents a $2.48 annualized dividend and a dividend yield of 1.14%. CDW’s payout ratio is 30.96%.

Analyst Upgrades and Downgrades

CDW has been the subject of several recent research reports. Citigroup lowered their price target on CDW from $295.00 to $260.00 and set a “buy” rating for the company in a report on Thursday, May 2nd. Northcoast Research upgraded CDW from a “neutral” rating to a “buy” rating and set a $270.00 price target for the company in a report on Friday, June 7th. JPMorgan Chase & Co. lowered their price target on CDW from $280.00 to $265.00 and set an “overweight” rating for the company in a report on Thursday, May 2nd. Stifel Nicolaus lowered their price target on CDW from $265.00 to $250.00 and set a “buy” rating for the company in a report on Thursday, May 2nd. Finally, Barclays lowered their target price on CDW from $261.00 to $232.00 and set an “equal weight” rating for the company in a research note on Thursday, May 2nd. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $250.00.

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.