Ridgewood Investments LLC Makes New $104,000 Investment in CDW Co. (NASDAQ:CDW)

Ridgewood Investments LLC purchased a new position in shares of CDW Co. (NASDAQ:CDWFree Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 600 shares of the information technology services provider’s stock, valued at approximately $104,000.

A number of other large investors also recently made changes to their positions in the business. Quest Partners LLC purchased a new position in shares of CDW in the 2nd quarter worth $35,000. Canoe Financial LP purchased a new position in shares of CDW in the 3rd quarter worth $37,000. Fortitude Family Office LLC raised its position 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 period. Ashton Thomas Securities LLC purchased a new position in shares of CDW in the 3rd quarter worth $43,000. Finally, Covestor Ltd raised its position in shares of CDW by 80.1% in the 3rd quarter. Covestor Ltd now owns 245 shares of the information technology services provider’s stock worth $55,000 after buying an additional 109 shares during the period. Hedge funds and other institutional investors own 93.15% of the company’s stock.

Analysts Set New Price Targets

Several research firms have commented on CDW. Barclays cut their price objective on CDW from $229.00 to $201.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 31st. JPMorgan Chase & Co. lowered CDW from an “overweight” rating to a “neutral” rating and cut their price objective for the company from $260.00 to $235.00 in a research report on Monday, October 28th. Morgan Stanley raised their price objective on CDW from $190.00 to $193.00 and gave the company an “equal weight” rating in a research report on Monday, December 16th. Redburn Atlantic began coverage on CDW in a research report on Friday, November 15th. They issued a “buy” rating and a $230.00 price objective on the stock. Finally, Citigroup lowered 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 research report on Tuesday, October 1st. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $239.33.

Read Our Latest Analysis on CDW

CDW Stock Up 1.0 %

Shares of CDW stock opened at $183.14 on Friday. The business has a 50-day moving average of $180.40 and a 200-day moving average of $206.98. The company has a debt-to-equity ratio of 2.39, a current ratio of 1.40 and a quick ratio of 1.28. The company has a market capitalization of $24.41 billion, a PE ratio of 22.39, a P/E/G ratio of 5.01 and a beta of 1.01. CDW Co. has a 1-year low of $168.43 and a 1-year high of $263.37.

CDW (NASDAQ:CDWGet Free Report) last posted its quarterly earnings results on Wednesday, October 30th. The information technology services provider reported $2.63 EPS for the quarter, missing analysts’ consensus estimates of $2.68 by ($0.05). The firm had revenue of $5.52 billion during the quarter, compared to analyst estimates of $5.72 billion. CDW had a return on equity of 58.31% and a net margin of 5.33%. The firm’s revenue for the quarter was down 2.0% on a year-over-year basis. During the same quarter last year, the business posted $2.60 earnings per share. As a group, equities analysts forecast that CDW Co. will post 8.99 EPS for the current fiscal year.

CDW Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Monday, November 25th were paid a $0.625 dividend. This represents a $2.50 dividend on an annualized basis and a yield of 1.37%. This is an increase from CDW’s previous quarterly dividend of $0.62. The ex-dividend date of this dividend was Monday, November 25th. CDW’s dividend payout ratio (DPR) is 30.56%.

CDW Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for CDW (NASDAQ:CDW)

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