Meridian Wealth Management LLC Has $306,000 Stock Position in CDW Co. (NASDAQ:CDW)

Meridian Wealth Management LLC lessened its stake in shares of CDW Co. (NASDAQ:CDW) by 38.6% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,353 shares of the information technology services provider’s stock after selling 851 shares during the period. Meridian Wealth Management LLC’s holdings in CDW were worth $306,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of CDW. Massachusetts Financial Services Co. MA acquired a new stake in CDW in the third quarter valued at $416,111,000. Dimensional Fund Advisors LP raised its holdings in shares of CDW by 11.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,292,674 shares of the information technology services provider’s stock valued at $289,357,000 after purchasing an additional 128,263 shares during the period. Boston Partners lifted its stake in CDW by 1.9% in the 1st quarter. Boston Partners now owns 807,590 shares of the information technology services provider’s stock valued at $206,519,000 after purchasing an additional 15,178 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in CDW by 1.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 775,240 shares of the information technology services provider’s stock worth $175,437,000 after purchasing an additional 7,764 shares during the period. Finally, Perpetual Ltd acquired a new position in CDW during the third quarter worth approximately $158,300,000. 93.15% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have recently issued reports on CDW. Citigroup cut CDW from a “buy” rating to a “neutral” rating and cut their price objective for the company from $250.00 to $245.00 in a research report on Tuesday, October 1st. Redburn Atlantic assumed coverage on shares of CDW in a report on Friday, November 15th. They issued a “buy” rating and a $230.00 price target on the stock. Barclays reduced their price objective on CDW from $229.00 to $201.00 and set an “equal weight” rating for the company in a report on Thursday, October 31st. Finally, JPMorgan Chase & Co. downgraded CDW from an “overweight” rating to a “neutral” rating and decreased their target price for the company from $260.00 to $235.00 in a research report on Monday, October 28th. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, CDW presently has an average rating of “Moderate Buy” and an average target price of $244.63.

CDW Stock Performance

Shares of NASDAQ:CDW opened at $181.34 on Tuesday. CDW Co. has a 12-month low of $172.95 and a 12-month high of $263.37. The company’s 50 day moving average price is $209.49 and its two-hundred day moving average price is $218.42. The firm has a market cap of $24.17 billion, a PE ratio of 22.17, a PEG ratio of 5.03 and a beta of 1.05. The company has a quick ratio of 1.28, a current ratio of 1.40 and a debt-to-equity ratio of 2.39.

CDW (NASDAQ:CDW) last issued its quarterly earnings results on Wednesday, October 30th. The information technology services provider reported $2.63 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.68 by ($0.05). CDW had a net margin of 5.33% and a return on equity of 58.31%. The company had revenue of $5.52 billion during the quarter, compared to the consensus estimate of $5.72 billion. During the same quarter last year, the firm posted $2.60 earnings per share. The company’s quarterly revenue was down 2.0% on a year-over-year basis. Equities research analysts predict that CDW Co. will post 8.99 earnings per share for the current year.

CDW Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Monday, November 25th will be issued a dividend of $0.625 per share. This is a positive change from CDW’s previous quarterly dividend of $0.62. This represents a $2.50 annualized dividend and a dividend yield of 1.38%. The ex-dividend date of this dividend is Monday, November 25th. CDW’s dividend payout ratio is 30.56%.

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.