CDW Co. (NASDAQ:CDW) Shares Purchased by OneAscent Wealth Management LLC

OneAscent Wealth Management LLC boosted its holdings in CDW Co. (NASDAQ:CDW) by 2.5% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,387 shares of the information technology services provider’s stock after purchasing an additional 58 shares during the quarter. OneAscent Wealth Management LLC’s holdings in CDW were worth $540,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CDW. ORG Partners LLC acquired a new stake in shares of CDW in the second quarter valued at approximately $34,000. Quest Partners LLC acquired a new stake in shares of CDW in the second quarter valued at approximately $35,000. Canoe Financial LP acquired a new stake in shares of CDW in the third quarter valued at approximately $37,000. Fortitude Family Office LLC boosted its holdings in shares of 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 acquiring an additional 133 shares during the period. Finally, Summit Securities Group LLC acquired a new stake in shares of CDW in the second quarter valued at approximately $40,000. 93.15% of the stock is owned by institutional investors and hedge funds.

CDW Price Performance

CDW stock traded up $0.21 during midday trading on Monday, reaching $177.84. 93,362 shares of the company were exchanged, compared to its average volume of 877,570. The company has a debt-to-equity ratio of 2.39, a quick ratio of 1.28 and a current ratio of 1.40. The company has a market capitalization of $23.70 billion, a price-to-earnings ratio of 21.72, a P/E/G ratio of 4.96 and a beta of 1.05. The firm’s 50-day simple moving average is $213.49 and its 200-day simple moving average is $219.94. CDW Co. has a 1 year low of $175.94 and a 1 year high of $263.37.

CDW (NASDAQ:CDW) last released its quarterly earnings data 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). The firm 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 for the quarter was down 2.0% on a year-over-year basis. During the same period in the prior year, the firm earned $2.60 earnings per share. On average, analysts anticipate that CDW Co. will post 9.05 EPS for the current year.

CDW Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Monday, November 25th will be issued a dividend of $0.625 per share. The ex-dividend date is Monday, November 25th. This is an increase from CDW’s previous quarterly dividend of $0.62. This represents a $2.50 annualized dividend and a yield of 1.41%. CDW’s payout ratio is currently 30.32%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Barclays decreased their price objective 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 reduced their target price for the company from $260.00 to $235.00 in a report on Monday, October 28th. Citigroup downgraded CDW from a “buy” rating to a “neutral” rating and reduced their target price for the company from $250.00 to $245.00 in a report on Tuesday, October 1st. Finally, Redburn Atlantic initiated coverage on CDW in a research report on Friday. They issued a “buy” rating and a $230.00 price target for the company. Four analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $244.63.

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.