CDW Co. (NASDAQ:CDW) Shares Acquired by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC lifted its position in shares of CDW Co. (NASDAQ:CDW) by 0.9% in the 4th quarter, Holdings Channel reports. The fund owned 38,893 shares of the information technology services provider’s stock after buying an additional 348 shares during the period. Janney Montgomery Scott LLC’s holdings in CDW were worth $6,769,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Canoe Financial LP bought a new stake in shares of CDW in the 3rd quarter worth $37,000. Fortitude Family Office LLC lifted its stake in CDW by 350.0% in the 3rd quarter. Fortitude Family Office LLC now owns 171 shares of the information technology services provider’s stock worth $39,000 after acquiring an additional 133 shares in the last quarter. Ashton Thomas Securities LLC acquired a new position in CDW in the 3rd quarter valued at approximately $43,000. Covestor Ltd grew its stake in CDW by 80.1% in the third quarter. Covestor Ltd now owns 245 shares of the information technology services provider’s stock valued at $55,000 after purchasing an additional 109 shares in the last quarter. Finally, Kimelman & Baird LLC acquired a new stake in CDW in the second quarter valued at approximately $56,000. 93.15% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on CDW. UBS Group cut their price objective on CDW from $233.00 to $220.00 and set a “buy” rating on the stock in a research note on Tuesday, January 7th. Barclays lowered their price target on shares of CDW from $229.00 to $201.00 and set an “equal weight” rating on the stock in a report on Thursday, October 31st. 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. Redburn Atlantic began coverage on CDW in a report on Friday, November 15th. They set a “buy” rating and a $230.00 price target for the company. Finally, Morgan Stanley increased their price target on shares of CDW from $190.00 to $193.00 and gave the company an “equal weight” rating in a research note on Monday, December 16th. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, CDW currently has an average rating of “Moderate Buy” and an average price target of $239.33.

CDW Stock Up 0.4 %

Shares of NASDAQ CDW opened at $194.76 on Wednesday. The firm has a 50 day moving average price of $180.53 and a 200 day moving average price of $203.91. 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 stock has a market cap of $25.95 billion, a P/E ratio of 23.81, a P/E/G ratio of 5.26 and a beta of 1.01. CDW Co. has a 52-week low of $168.43 and a 52-week high of $263.37.

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

CDW Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Monday, November 25th were paid a dividend of $0.625 per share. This is a boost from CDW’s previous quarterly dividend of $0.62. This represents a $2.50 annualized dividend and a dividend yield of 1.28%. The ex-dividend date was Monday, November 25th. CDW’s dividend payout ratio (DPR) is currently 30.56%.

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.