Venturi Wealth Management LLC Buys 624 Shares of CDW Co. (NASDAQ:CDW)

Venturi Wealth Management LLC raised its holdings in shares of CDW Co. (NASDAQ:CDW) by 9.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,189 shares of the information technology services provider’s stock after purchasing an additional 624 shares during the quarter. Venturi Wealth Management LLC’s holdings in CDW were worth $1,627,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in CDW. Envestnet Portfolio Solutions Inc. lifted its holdings in CDW by 105.5% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 9,080 shares of the information technology services provider’s stock valued at $2,322,000 after purchasing an additional 4,661 shares during the last quarter. Headlands Technologies LLC purchased a new stake in CDW during the first quarter valued at about $258,000. Russell Investments Group Ltd. lifted its holdings in CDW by 1.9% during the first quarter. Russell Investments Group Ltd. now owns 61,206 shares of the information technology services provider’s stock valued at $15,695,000 after purchasing an additional 1,149 shares during the last quarter. ProShare Advisors LLC lifted its holdings in CDW by 17.8% during the first quarter. ProShare Advisors LLC now owns 187,443 shares of the information technology services provider’s stock valued at $47,944,000 after purchasing an additional 28,258 shares during the last quarter. Finally, Edmond DE Rothschild Holding S.A. lifted its holdings in CDW by 21.6% during the first quarter. Edmond DE Rothschild Holding S.A. now owns 468 shares of the information technology services provider’s stock valued at $120,000 after purchasing an additional 83 shares during the last quarter. 93.15% of the stock is owned by hedge funds and other institutional investors.

CDW Trading Down 1.0 %

Shares of CDW opened at $197.81 on Tuesday. The firm’s 50 day simple moving average is $215.94 and its 200 day simple moving average is $221.41. The company has a market capitalization of $26.36 billion, a P/E ratio of 24.18, a P/E/G ratio of 5.58 and a beta of 1.05. 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 1-year low of $187.73 and a 1-year high of $263.37.

CDW (NASDAQ:CDW) last announced 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 during the quarter, compared to analysts’ expectations of $5.72 billion. CDW had a net margin of 5.33% and a return on equity of 58.31%. The company’s revenue for the quarter was down 2.0% compared to the same quarter last year. During the same period in the prior year, the business earned $2.60 earnings per share. Sell-side analysts forecast that CDW Co. will post 9.05 earnings per share for the current fiscal year.

CDW Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Monday, November 25th will be given a dividend of $0.625 per share. This is a boost from CDW’s previous quarterly dividend of $0.62. This represents a $2.50 dividend on an annualized basis and a yield of 1.26%. The ex-dividend date of this dividend is Monday, November 25th. CDW’s dividend payout ratio (DPR) is presently 30.32%.

Wall Street Analyst Weigh In

CDW has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. downgraded shares of 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 report on Monday, October 28th. 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. Stifel Nicolaus increased their price target on shares of CDW from $250.00 to $260.00 and gave the stock a “buy” rating in a report on Wednesday, July 17th. Finally, Citigroup downgraded shares of CDW from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $250.00 to $245.00 in a report on Tuesday, October 1st. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, CDW presently has an average rating of “Hold” and an average target price of $246.71.

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.