Valley Wealth Managers Inc. Grows Stake in CDW Co. (NASDAQ:CDW)

Valley Wealth Managers Inc. grew its position in CDW Co. (NASDAQ:CDW) by 31.6% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 1,852 shares of the information technology services provider’s stock after purchasing an additional 445 shares during the quarter. Valley Wealth Managers Inc.’s holdings in CDW were worth $419,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in CDW. Vanguard Group Inc. lifted its stake in CDW by 4.6% in the first quarter. Vanguard Group Inc. now owns 16,407,542 shares of the information technology services provider’s stock worth $4,196,721,000 after acquiring an additional 714,393 shares during the period. Perpetual Ltd purchased a new stake in shares of CDW in the 3rd quarter worth approximately $158,300,000. Lazard Asset Management LLC boosted its stake in shares of CDW by 225.9% during the first quarter. Lazard Asset Management LLC now owns 881,586 shares of the information technology services provider’s stock valued at $225,491,000 after purchasing an additional 611,054 shares in the last quarter. Ceredex Value Advisors LLC purchased a new position in CDW during the second quarter valued at approximately $79,549,000. Finally, Canada Pension Plan Investment Board raised its stake in CDW by 2,045.4% in the second quarter. Canada Pension Plan Investment Board now owns 294,302 shares of the information technology services provider’s stock worth $65,877,000 after buying an additional 280,584 shares in the last quarter. Institutional investors own 93.15% of the company’s stock.

CDW Trading Down 1.7 %

Shares of NASDAQ:CDW opened at $177.63 on Friday. The company has a market capitalization of $23.67 billion, a PE ratio of 21.72, a PEG ratio of 5.19 and a beta of 1.05. CDW Co. has a 12-month low of $175.94 and a 12-month high of $263.37. The business has a 50 day moving average of $213.49 and a two-hundred day moving average of $220.05. The company has a current ratio of 1.40, a quick ratio of 1.28 and a debt-to-equity ratio of 2.39.

CDW (NASDAQ:CDW) last announced its quarterly earnings results on Wednesday, October 30th. The information technology services provider reported $2.63 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.68 by ($0.05). The firm 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%. The business’s quarterly revenue was down 2.0% on a year-over-year basis. During the same period last year, the company posted $2.60 earnings per share. As a group, analysts forecast that CDW Co. will post 9.05 EPS for the current year.

CDW Increases Dividend

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

Wall Street Analyst Weigh In

Several brokerages have issued reports on CDW. Redburn Atlantic began coverage on CDW in a research report on Friday. They set a “buy” rating and a $230.00 target price on the stock. Citigroup lowered CDW from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $250.00 to $245.00 in a report on Tuesday, October 1st. Barclays cut their price objective 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. Finally, JPMorgan Chase & Co. cut CDW from an “overweight” rating to a “neutral” rating and lowered their price target for the stock from $260.00 to $235.00 in a research report on Monday, October 28th. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $244.63.

CDW 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.