Insight Wealth Strategies LLC Grows Holdings in CDW Co. (NASDAQ:CDW)

Insight Wealth Strategies LLC raised its position in CDW Co. (NASDAQ:CDW) by 13.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 19,772 shares of the information technology services provider’s stock after buying an additional 2,275 shares during the period. Insight Wealth Strategies LLC’s holdings in CDW were worth $3,441,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. PDS Planning Inc lifted its stake in shares of CDW by 4.3% in the third 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 in the last quarter. Profund Advisors LLC raised its position in shares of CDW by 0.5% in the 2nd quarter. Profund Advisors LLC now owns 12,469 shares of the information technology services provider’s stock valued at $2,791,000 after purchasing an additional 58 shares in the last quarter. OneAscent Wealth Management LLC grew its position in shares of CDW by 2.5% during the third quarter. OneAscent Wealth Management LLC now owns 2,387 shares of the information technology services provider’s stock worth $540,000 after buying an additional 58 shares in the last quarter. Fulcrum Equity Management increased its stake in shares of CDW by 4.3% in 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 during the last quarter. Finally, Elo Mutual Pension Insurance Co increased its stake in shares of CDW by 0.5% in the second quarter. Elo Mutual Pension Insurance Co now owns 12,301 shares of the information technology services provider’s stock worth $2,753,000 after buying an additional 61 shares during the last quarter. 93.15% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. Citigroup downgraded shares of CDW from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $250.00 to $245.00 in a research note on Tuesday, October 1st. Barclays lowered 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. JPMorgan Chase & Co. downgraded CDW from an “overweight” rating to a “neutral” rating and reduced their target price for the stock from $260.00 to $235.00 in a report on Monday, October 28th. Redburn Atlantic initiated coverage on CDW in a report on Friday, November 15th. They issued a “buy” rating and a $230.00 price target for the company. Finally, Morgan Stanley raised their price objective on CDW from $190.00 to $193.00 and gave the stock 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 four have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $241.75.

CDW Stock Performance

Shares of CDW stock traded up $4.80 during trading hours on Monday, reaching $179.03. The stock had a trading volume of 758,811 shares, compared to its average volume of 872,603. The firm has a market capitalization of $23.86 billion, a PE ratio of 21.89, a price-to-earnings-growth ratio of 5.01 and a beta of 1.01. The firm has a 50-day simple moving average of $182.37 and a 200-day simple moving average of $208.09. CDW Co. has a twelve month low of $168.43 and a twelve month high of $263.37. The company has a debt-to-equity ratio of 2.39, a current ratio of 1.40 and a quick ratio of 1.28.

CDW (NASDAQ:CDW) last announced its quarterly earnings results on Wednesday, October 30th. The information technology services provider reported $2.63 EPS for the quarter, missing the consensus estimate of $2.68 by ($0.05). The firm had revenue of $5.52 billion during 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%. CDW’s revenue for the quarter was down 2.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.60 EPS. As a group, equities analysts forecast 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. Shareholders of record on Monday, November 25th were paid a dividend of $0.625 per share. The ex-dividend date of this dividend was Monday, November 25th. This represents a $2.50 annualized dividend and a yield of 1.40%. This is an increase from CDW’s previous quarterly dividend of $0.62. CDW’s 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.