Studio Investment Management LLC Buys 81 Shares of CDW Co. (NASDAQ:CDW)

Studio Investment Management LLC lifted its stake in shares of CDW Co. (NASDAQ:CDW) by 4.3% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 1,951 shares of the information technology services provider’s stock after buying an additional 81 shares during the quarter. Studio Investment Management LLC’s holdings in CDW were worth $442,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Lake Street Advisors Group LLC grew its holdings in CDW by 12.9% in the 1st quarter. Lake Street Advisors Group LLC now owns 1,109 shares of the information technology services provider’s stock valued at $284,000 after buying an additional 127 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of CDW in the first quarter valued at about $344,000. Pitcairn Co. bought a new position in CDW during the first quarter worth about $223,000. CreativeOne Wealth LLC raised its stake in CDW by 24.2% in the 1st quarter. CreativeOne Wealth LLC now owns 1,420 shares of the information technology services provider’s stock worth $363,000 after purchasing an additional 277 shares in the last quarter. Finally, EP Wealth Advisors LLC boosted its holdings in CDW by 25.4% in the 1st quarter. EP Wealth Advisors LLC now owns 5,283 shares of the information technology services provider’s stock valued at $1,351,000 after purchasing an additional 1,069 shares during the period. Institutional investors own 93.15% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on CDW. Barclays lowered their target price on shares of CDW from $229.00 to $201.00 and set an “equal weight” rating on the stock in a report on Thursday, October 31st. 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 report on Monday, October 28th. Redburn Atlantic initiated coverage on CDW in a report on Friday, November 15th. They set a “buy” rating and a $230.00 target price on the stock. Finally, Citigroup downgraded CDW from a “buy” rating to a “neutral” rating and dropped their price target for the company from $250.00 to $245.00 in a research note on Tuesday, October 1st. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, CDW currently has a consensus rating of “Moderate Buy” and a consensus target price of $244.63.

CDW Price Performance

Shares of CDW stock opened at $177.91 on Friday. CDW Co. has a twelve month low of $172.95 and a twelve month high of $263.37. The company has a quick ratio of 1.28, a current ratio of 1.40 and a debt-to-equity ratio of 2.39. The business has a fifty day simple moving average of $211.13 and a 200 day simple moving average of $219.03. The company has a market cap of $23.71 billion, a P/E ratio of 21.75, a P/E/G ratio of 4.86 and a beta of 1.05.

CDW (NASDAQ:CDW) last posted its 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). The company had revenue of $5.52 billion for the quarter, compared to the consensus estimate of $5.72 billion. CDW had a return on equity of 58.31% and a net margin of 5.33%. The business’s quarterly revenue was down 2.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.60 EPS. On average, sell-side analysts forecast that CDW Co. will post 9.05 EPS for the current fiscal year.

CDW Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Monday, November 25th will be paid a dividend of $0.625 per share. The ex-dividend date of this dividend is Monday, November 25th. This represents a $2.50 annualized dividend and a dividend yield of 1.41%. This is an increase from CDW’s previous quarterly dividend of $0.62. CDW’s dividend payout ratio (DPR) is presently 30.32%.

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.