CDW Co. (NASDAQ:CDW) Shares Acquired by Orion Portfolio Solutions LLC

Orion Portfolio Solutions LLC grew its stake in CDW Co. (NASDAQ:CDW) by 9.6% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,747 shares of the information technology services provider’s stock after purchasing an additional 680 shares during the period. Orion Portfolio Solutions LLC’s holdings in CDW were worth $1,753,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. ORG Partners LLC acquired a new position in CDW during the 2nd quarter worth about $34,000. Quest Partners LLC purchased a new stake in shares of CDW in the second quarter valued at about $35,000. Canoe Financial LP acquired a new stake in CDW during the 3rd quarter worth approximately $37,000. Fortitude Family Office LLC grew its stake in shares of CDW by 350.0% in 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 last quarter. Finally, Summit Securities Group LLC acquired a new stake in shares of CDW during the second quarter worth $40,000. Hedge funds and other institutional investors own 93.15% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Barclays reduced 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 note on Thursday, October 31st. Redburn Atlantic began coverage on CDW in a research note on Friday, November 15th. They set a “buy” rating and a $230.00 price target for the company. JPMorgan Chase & Co. cut shares of CDW from an “overweight” rating to a “neutral” rating and cut their target price for the stock from $260.00 to $235.00 in a research report on Monday, October 28th. Finally, Citigroup downgraded CDW from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $250.00 to $245.00 in a research report on Tuesday, October 1st. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, CDW has an average rating of “Moderate Buy” and an average target price of $248.71.

CDW Stock Down 0.1 %

Shares of NASDAQ:CDW opened at $178.05 on Friday. The company has a current ratio of 1.40, a quick ratio of 1.28 and a debt-to-equity ratio of 2.39. The firm has a market cap of $23.73 billion, a price-to-earnings ratio of 21.77, a PEG ratio of 5.06 and a beta of 1.02. The stock’s 50-day moving average price is $197.04 and its two-hundred day moving average price is $213.89. CDW Co. has a 12-month low of $172.95 and a 12-month high of $263.37.

CDW (NASDAQ:CDW) last posted 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). CDW had a return on equity of 58.31% and a net margin of 5.33%. The company had revenue of $5.52 billion for the quarter, compared to analysts’ expectations of $5.72 billion. During the same period in the prior year, the business earned $2.60 EPS. The business’s revenue for the quarter was down 2.0% on a year-over-year basis. On average, research analysts forecast that CDW Co. will post 8.99 EPS for the current year.

CDW Increases Dividend

The firm also recently disclosed 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. This is an increase from CDW’s previous quarterly dividend of $0.62. This represents a $2.50 annualized dividend and a yield of 1.40%. The ex-dividend date was Monday, November 25th. CDW’s payout ratio is currently 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.