CDW Co. (NASDAQ:CDW) Shares Bought by RDA Financial Network

RDA Financial Network lifted its stake in shares of CDW Co. (NASDAQ:CDW) by 37.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,256 shares of the information technology services provider’s stock after acquiring an additional 619 shares during the quarter. RDA Financial Network’s holdings in CDW were worth $393,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the stock. Quest Partners LLC acquired a new stake in shares of CDW during the second quarter valued at approximately $35,000. Canoe Financial LP purchased a new position in CDW during the 3rd quarter worth approximately $37,000. Fortitude Family Office LLC raised its stake in CDW by 350.0% during the 3rd quarter. Fortitude Family Office LLC now owns 171 shares of the information technology services provider’s stock valued at $39,000 after purchasing an additional 133 shares during the period. Ashton Thomas Securities LLC purchased a new stake in shares of CDW in the third quarter valued at $43,000. Finally, Covestor Ltd boosted its position in shares of CDW by 80.1% in the third quarter. Covestor Ltd now owns 245 shares of the information technology services provider’s stock worth $55,000 after buying an additional 109 shares during the period. 93.15% of the stock is currently owned by institutional investors and hedge funds.

CDW Stock Up 0.5 %

CDW opened at $188.70 on Friday. The business has a 50 day moving average of $179.13 and a 200-day moving average of $205.37. The stock has a market capitalization of $25.15 billion, a price-to-earnings ratio of 23.07, a P/E/G ratio of 4.91 and a beta of 1.01. The company has a current ratio of 1.40, a quick ratio of 1.28 and a debt-to-equity ratio of 2.39. CDW Co. has a 1-year low of $168.43 and a 1-year high of $263.37.

CDW (NASDAQ:CDW) last announced 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). The company had revenue of $5.52 billion for the quarter, compared to analyst estimates of $5.72 billion. CDW had a net margin of 5.33% and a return on equity of 58.31%. The firm’s quarterly revenue was down 2.0% on a year-over-year basis. During the same period in the prior year, the company posted $2.60 EPS. As a group, sell-side analysts anticipate that CDW Co. will post 8.99 earnings per share for the current year.

CDW Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Monday, November 25th were given 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 1.32%. The ex-dividend date was Monday, November 25th. CDW’s payout ratio is 30.56%.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on CDW shares. JPMorgan Chase & Co. downgraded CDW from an “overweight” rating to a “neutral” rating and dropped their target price for the company from $260.00 to $235.00 in a report on Monday, October 28th. Barclays cut their target price on shares of CDW from $229.00 to $201.00 and set an “equal weight” rating for the company in a research report on Thursday, October 31st. Redburn Atlantic began coverage on shares of CDW in a report on Friday, November 15th. They set a “buy” rating and a $230.00 price target on the stock. 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. Finally, Morgan Stanley boosted their target price on 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 company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $239.33.

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.