Alliance Wealth Advisors LLC UT Boosts Stock Position in CDW Co. (NASDAQ:CDW)

Alliance Wealth Advisors LLC UT boosted its stake in CDW Co. (NASDAQ:CDW) by 8.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,149 shares of the information technology services provider’s stock after buying an additional 310 shares during the quarter. Alliance Wealth Advisors LLC UT’s holdings in CDW were worth $722,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Massachusetts Financial Services Co. MA purchased a new stake in CDW in the 3rd quarter valued at $416,111,000. Janus Henderson Group PLC increased its position in CDW by 7,029.1% during the third quarter. Janus Henderson Group PLC now owns 1,466,597 shares of the information technology services provider’s stock worth $331,891,000 after purchasing an additional 1,446,025 shares during the last quarter. Holocene Advisors LP purchased a new stake in shares of CDW in the 3rd quarter valued at approximately $172,217,000. Perpetual Ltd acquired a new position in CDW in the third quarter valued at approximately $158,300,000. Finally, Assenagon Asset Management S.A. lifted its stake in shares of CDW by 7,549.9% in the 4th quarter. Assenagon Asset Management S.A. now owns 256,271 shares of the information technology services provider’s stock valued at $44,601,000 after purchasing an additional 252,921 shares during the last quarter. Hedge funds and other institutional investors own 93.15% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have commented on CDW. UBS Group lowered their target price on shares of CDW from $233.00 to $220.00 and set a “buy” rating for the company in a research note on Tuesday, January 7th. Redburn Atlantic initiated coverage on shares of CDW in a report on Friday, November 15th. They issued a “buy” rating and a $230.00 price objective on the stock. Barclays dropped their target price on shares of CDW from $229.00 to $201.00 and set an “equal weight” rating for the company in a report on Thursday, October 31st. Morgan Stanley upped their price target on CDW from $190.00 to $193.00 and gave the stock an “equal weight” rating in a research note on Monday, December 16th. Finally, JPMorgan Chase & Co. cut CDW from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $260.00 to $235.00 in a research note on Monday, October 28th. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, CDW has an average rating of “Moderate Buy” and a consensus target price of $239.33.

CDW Stock Down 0.4 %

Shares of NASDAQ CDW opened at $198.44 on Tuesday. The company has a debt-to-equity ratio of 2.39, a current ratio of 1.40 and a quick ratio of 1.28. The firm’s 50-day moving average is $182.06 and its two-hundred day moving average is $202.83. CDW Co. has a 12-month low of $168.43 and a 12-month high of $263.37. The company has a market capitalization of $26.44 billion, a PE ratio of 24.26, a price-to-earnings-growth ratio of 5.39 and a beta of 1.01.

CDW Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Monday, November 25th were paid a $0.625 dividend. This is a boost from CDW’s previous quarterly dividend of $0.62. This represents a $2.50 annualized dividend and a yield of 1.26%. The ex-dividend date of this dividend was Monday, November 25th. CDW’s payout ratio is presently 30.56%.

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.