Diversify Wealth Management LLC Has $483,000 Stake in CDW Co. (NASDAQ:CDW)

Diversify Wealth Management LLC lifted its holdings in CDW Co. (NASDAQ:CDW) by 16.6% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,221 shares of the information technology services provider’s stock after buying an additional 317 shares during the period. Diversify Wealth Management LLC’s holdings in CDW were worth $483,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Vanguard Group Inc. boosted its stake in shares of CDW by 4.6% in the 1st quarter. Vanguard Group Inc. now owns 16,407,542 shares of the information technology services provider’s stock worth $4,196,721,000 after buying an additional 714,393 shares during the last quarter. Mawer Investment Management Ltd. boosted its stake in shares of CDW by 0.9% in the 1st quarter. Mawer Investment Management Ltd. now owns 3,101,924 shares of the information technology services provider’s stock worth $793,410,000 after buying an additional 27,753 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in shares of CDW by 3.7% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,431,573 shares of the information technology services provider’s stock worth $366,168,000 after buying an additional 51,450 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake 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 worth $289,357,000 after buying an additional 128,263 shares during the last quarter. Finally, Lazard Asset Management LLC boosted its stake in shares of CDW by 225.9% in the 1st quarter. Lazard Asset Management LLC now owns 881,586 shares of the information technology services provider’s stock worth $225,491,000 after buying an additional 611,054 shares during the last quarter. Hedge funds and other institutional investors own 93.15% of the company’s stock.

Wall Street Analyst Weigh In

CDW has been the topic of a number of research analyst reports. Citigroup downgraded CDW from a “buy” rating to a “neutral” rating and cut their target price for the stock from $250.00 to $245.00 in a research note on Tuesday, October 1st. 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. JPMorgan Chase & Co. cut shares of CDW from an “overweight” rating to a “neutral” rating and lowered their price target for the stock from $260.00 to $235.00 in a report on Monday. Finally, Stifel Nicolaus lifted their price target on shares of CDW from $250.00 to $260.00 and gave the stock a “buy” rating in a report on Wednesday, July 17th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $246.71.

CDW Trading Down 3.5 %

Shares of CDW stock opened at $188.23 on Friday. The company’s fifty day simple moving average is $220.86 and its two-hundred day simple moving average is $223.97. The company has a debt-to-equity ratio of 2.03, a current ratio of 1.13 and a quick ratio of 1.02. CDW Co. has a 1 year low of $185.04 and a 1 year high of $263.37. The stock has a market capitalization of $25.14 billion, a price-to-earnings ratio of 23.01, a PEG ratio of 3.42 and a beta of 1.03.

CDW (NASDAQ:CDW) last released its quarterly earnings results on Wednesday, July 31st. The information technology services provider reported $2.34 earnings per share for the quarter, missing the consensus estimate of $2.39 by ($0.05). The firm had revenue of $5.42 billion during the quarter, compared to the consensus estimate of $5.43 billion. CDW had a return on equity of 62.22% and a net margin of 5.29%. The company’s revenue for the quarter was down 3.6% compared to the same quarter last year. During the same period in the previous year, the company posted $2.43 EPS. As a group, analysts anticipate that CDW Co. will post 9.4 earnings per share for the current year.

CDW Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Monday, November 25th will be issued a $0.625 dividend. The ex-dividend date of this dividend is Monday, November 25th. This represents a $2.50 annualized dividend and a dividend yield of 1.33%. This is a boost from CDW’s previous quarterly dividend of $0.62. CDW’s dividend payout ratio is presently 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.