Merit Financial Group LLC Has $712,000 Stock Position in CDW Co. (NASDAQ:CDW)

Merit Financial Group LLC boosted its holdings in CDW Co. (NASDAQ:CDW) by 35.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,093 shares of the information technology services provider’s stock after buying an additional 1,075 shares during the period. Merit Financial Group LLC’s holdings in CDW were worth $712,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of CDW. PDS Planning Inc lifted its position in shares of CDW by 4.3% in the 3rd quarter. PDS Planning Inc now owns 1,186 shares of the information technology services provider’s stock worth $268,000 after acquiring an additional 49 shares during the period. OneAscent Wealth Management LLC lifted its position in CDW by 2.5% in the third quarter. OneAscent Wealth Management LLC now owns 2,387 shares of the information technology services provider’s stock worth $540,000 after purchasing an additional 58 shares during the period. Fulcrum Equity Management boosted its stake in CDW by 4.3% during the third quarter. Fulcrum Equity Management now owns 1,442 shares of the information technology services provider’s stock worth $326,000 after buying an additional 60 shares in the last quarter. WCM Investment Management LLC increased its holdings in CDW by 4.6% in the 3rd quarter. WCM Investment Management LLC now owns 1,380 shares of the information technology services provider’s stock valued at $313,000 after buying an additional 61 shares during the period. Finally, Harbour Trust & Investment Management Co raised its stake in shares of CDW by 0.3% in the 3rd quarter. Harbour Trust & Investment Management Co now owns 20,869 shares of the information technology services provider’s stock valued at $4,723,000 after buying an additional 62 shares in the last quarter. 93.15% of the stock is currently owned by institutional investors and hedge funds.

CDW Price Performance

CDW stock opened at $194.30 on Thursday. CDW Co. has a 52 week low of $168.43 and a 52 week high of $263.37. The firm has a market cap of $25.89 billion, a P/E ratio of 23.75, a P/E/G ratio of 5.11 and a beta of 1.01. The company has a debt-to-equity ratio of 2.39, a quick ratio of 1.28 and a current ratio of 1.40. The business’s fifty day moving average is $179.11 and its two-hundred day moving average is $204.73.

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

CDW Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Monday, November 25th were given a $0.625 dividend. This represents a $2.50 annualized dividend and a yield of 1.29%. The ex-dividend date of this dividend was Monday, November 25th. This is a boost from CDW’s previous quarterly dividend of $0.62. CDW’s payout ratio is 30.56%.

Analyst Ratings Changes

CDW has been the topic of a number of analyst reports. Barclays lowered their target price on shares of CDW from $229.00 to $201.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 31st. JPMorgan Chase & Co. lowered CDW from an “overweight” rating to a “neutral” rating and lowered their price objective for the company from $260.00 to $235.00 in a research note on Monday, October 28th. Morgan Stanley raised their target price on CDW from $190.00 to $193.00 and gave the stock an “equal weight” rating in a research report on Monday, December 16th. Citigroup cut CDW from a “buy” rating to a “neutral” rating and lowered their price target for the company from $250.00 to $245.00 in a research report on Tuesday, October 1st. Finally, UBS Group cut their price objective on CDW from $233.00 to $220.00 and set a “buy” rating for the company in a report on Tuesday, January 7th. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $239.33.

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.