CDW Co. (NASDAQ:CDW) Shares Bought by RiverPark Advisors LLC

RiverPark Advisors LLC grew its position in CDW Co. (NASDAQ:CDW) by 5.8% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,549 shares of the information technology services provider’s stock after buying an additional 305 shares during the quarter. RiverPark Advisors LLC’s holdings in CDW were worth $1,256,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. Quest Partners LLC purchased a new position in CDW in the second quarter valued at $35,000. ORG Partners LLC purchased a new position in CDW in the second quarter valued at $34,000. Canoe Financial LP purchased a new position in CDW in the third quarter valued at $37,000. Fortitude Family Office LLC boosted its holdings in CDW by 350.0% in the third quarter. Fortitude Family Office LLC now owns 171 shares of the information technology services provider’s stock valued at $39,000 after purchasing an additional 133 shares during the period. Finally, Summit Securities Group LLC purchased a new position in CDW in the second quarter valued at $40,000. 93.15% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms recently issued reports on CDW. Redburn Atlantic began coverage on CDW in a report on Friday. They issued a “buy” rating and a $230.00 target price for the company. Barclays decreased their price target on CDW from $229.00 to $201.00 and set an “equal weight” rating for the company in a report on Thursday, October 31st. JPMorgan Chase & Co. downgraded CDW from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $260.00 to $235.00 in a report on Monday, October 28th. Finally, Citigroup downgraded CDW from a “buy” rating to a “neutral” rating and decreased their price target 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. According to MarketBeat, CDW presently has a consensus rating of “Moderate Buy” and an average target price of $244.63.

CDW Stock Down 1.7 %

CDW opened at $177.63 on Friday. The business’s 50-day simple moving average is $213.49 and its 200-day simple moving average is $219.90. The company has a debt-to-equity ratio of 2.39, a quick ratio of 1.28 and a current ratio of 1.40. CDW Co. has a one year low of $175.94 and a one year high of $263.37. The stock has a market capitalization of $23.67 billion, a P/E ratio of 21.72, a price-to-earnings-growth ratio of 4.96 and a beta of 1.05.

CDW (NASDAQ:CDW) last issued its quarterly earnings results on Wednesday, October 30th. The information technology services provider reported $2.63 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.68 by ($0.05). The company had revenue of $5.52 billion during the quarter, compared to analyst estimates of $5.72 billion. CDW had a net margin of 5.33% and a return on equity of 58.31%. The business’s revenue was down 2.0% on a year-over-year basis. During the same quarter last year, the firm earned $2.60 EPS. Analysts anticipate that CDW Co. will post 9.05 EPS for the current year.

CDW Increases Dividend

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

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.