Valley Wealth Managers Inc. Purchases 445 Shares of CDW Co. (NASDAQ:CDW)

Valley Wealth Managers Inc. boosted its holdings in CDW Co. (NASDAQ:CDW) by 31.6% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,852 shares of the information technology services provider’s stock after acquiring an additional 445 shares during the quarter. Valley Wealth Managers Inc.’s holdings in CDW were worth $419,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Quest Partners LLC purchased a new position in shares of CDW during the second quarter valued at approximately $35,000. ORG Partners LLC purchased a new position in shares of CDW in the second quarter worth approximately $34,000. Canoe Financial LP bought a new stake in CDW during the third quarter valued at approximately $37,000. Fortitude Family Office LLC increased its stake 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 purchasing an additional 133 shares in the last quarter. Finally, Summit Securities Group LLC bought a new position in shares of CDW during the 2nd quarter valued at approximately $40,000. 93.15% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

CDW Stock Down 1.7 %

Shares of NASDAQ:CDW opened at $177.63 on Friday. The company has a market cap of $23.67 billion, a price-to-earnings 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 company has a current ratio of 1.40, a quick ratio of 1.28 and a debt-to-equity ratio of 2.39. The company has a 50-day moving average price of $213.49 and a 200 day moving average price of $220.05.

CDW (NASDAQ:CDW) last issued its quarterly 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). CDW had a net margin of 5.33% and a return on equity of 58.31%. The firm had revenue of $5.52 billion for the quarter, compared to the consensus estimate of $5.72 billion. During the same quarter in the previous year, the company posted $2.60 earnings per share. The business’s revenue for the quarter was down 2.0% on a year-over-year basis. As a group, equities research analysts predict that CDW Co. will post 9.05 earnings per share for the current year.

CDW Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Monday, November 25th will be given a dividend of $0.625 per share. 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. The ex-dividend date is Monday, November 25th. CDW’s dividend payout ratio (DPR) is 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.