Studio Investment Management LLC Has $442,000 Holdings in CDW Co. (NASDAQ:CDW)

Studio Investment Management LLC boosted its holdings in shares of CDW Co. (NASDAQ:CDW) by 4.3% in the third quarter, according to its most recent filing with the SEC. The firm owned 1,951 shares of the information technology services provider’s stock after acquiring an additional 81 shares during the period. Studio Investment Management LLC’s holdings in CDW were worth $442,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Quest Partners LLC bought a new stake in CDW in the second quarter valued at approximately $35,000. ORG Partners LLC bought a new stake in shares of CDW in the 2nd quarter valued at $34,000. Canoe Financial LP bought a new stake in shares of CDW in the 3rd quarter valued at $37,000. Fortitude Family Office LLC lifted its holdings in CDW by 350.0% during the third quarter. Fortitude Family Office LLC now owns 171 shares of the information technology services provider’s stock worth $39,000 after acquiring an additional 133 shares in the last quarter. Finally, Summit Securities Group LLC acquired a new position in CDW in the second quarter valued at about $40,000. Institutional investors own 93.15% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on CDW. Citigroup cut CDW from a “buy” rating to a “neutral” rating and cut their price objective for the company from $250.00 to $245.00 in a report on Tuesday, October 1st. JPMorgan Chase & Co. lowered shares of CDW from an “overweight” rating to a “neutral” rating and cut their price target for the company from $260.00 to $235.00 in a research note on Monday, October 28th. Barclays lowered their price objective on shares of CDW from $229.00 to $201.00 and set an “equal weight” rating for the company in a research report on Thursday, October 31st. Finally, Redburn Atlantic started coverage on shares of CDW in a research report on Friday, November 15th. They issued a “buy” rating and a $230.00 price objective on the stock. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $244.63.

CDW Trading Up 1.1 %

Shares of NASDAQ:CDW opened at $177.91 on Friday. The stock has a market capitalization of $23.71 billion, a PE ratio of 21.75, a price-to-earnings-growth ratio of 4.86 and a beta of 1.05. The company’s 50-day moving average price is $211.13 and its two-hundred day moving average price is $219.03. 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 Co. has a one year low of $172.95 and a one year 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 the consensus estimate 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 analyst estimates of $5.72 billion. During the same period last year, the firm earned $2.60 EPS. The firm’s revenue for the quarter was down 2.0% compared to the same quarter last year. On average, equities analysts forecast that CDW Co. will post 9.05 EPS for the current fiscal year.

CDW Increases Dividend

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

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.