Summit Trail Advisors LLC Purchases 199 Shares of CDW Co. (NASDAQ:CDW)

Summit Trail Advisors LLC grew its position in shares of CDW Co. (NASDAQ:CDW) by 5.3% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,984 shares of the information technology services provider’s stock after buying an additional 199 shares during the quarter. Summit Trail Advisors LLC’s holdings in CDW were worth $902,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Quest Partners LLC bought a new stake in CDW during the second quarter worth $35,000. ORG Partners LLC purchased a new stake in shares of CDW during the 2nd quarter valued at $34,000. Canoe Financial LP bought a new stake in shares of CDW during the 3rd quarter worth $37,000. Fortitude Family Office LLC boosted its holdings 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 worth $39,000 after buying an additional 133 shares during the last quarter. Finally, Summit Securities Group LLC bought a new position in CDW during the second quarter valued at about $40,000. Hedge funds and other institutional investors own 93.15% of the company’s stock.

Analyst Upgrades and Downgrades

CDW has been the topic of several research reports. Citigroup lowered shares of CDW from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $250.00 to $245.00 in a research report on Tuesday, October 1st. Barclays dropped their price objective on CDW from $229.00 to $201.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 31st. JPMorgan Chase & Co. lowered CDW from an “overweight” rating to a “neutral” rating and lowered their target price for the company from $260.00 to $235.00 in a research note on Monday, October 28th. Finally, Redburn Atlantic started 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. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $244.63.

CDW Stock Up 1.7 %

Shares of NASDAQ:CDW opened at $181.34 on Tuesday. The company has a market cap of $24.17 billion, a price-to-earnings ratio of 22.17, a PEG ratio of 5.03 and a beta of 1.05. CDW Co. has a one year low of $172.95 and a one year high of $263.37. The firm has a fifty day moving average price of $209.49 and a two-hundred day moving average price of $218.42. 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 posted its 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 business had revenue of $5.52 billion for the quarter, compared to analysts’ expectations of $5.72 billion. CDW had a return on equity of 58.31% and a net margin of 5.33%. CDW’s quarterly revenue was down 2.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.60 earnings per share. Analysts anticipate that CDW Co. will post 8.99 EPS for the current fiscal year.

CDW Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Monday, November 25th will be paid a $0.625 dividend. This is an increase from CDW’s previous quarterly dividend of $0.62. This represents a $2.50 dividend on an annualized basis and a yield of 1.38%. The ex-dividend date of this dividend is Monday, November 25th. CDW’s dividend payout ratio (DPR) 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.