Milestone Asset Management LLC Grows Holdings in CDW Co. (NASDAQ:CDW)

Milestone Asset Management LLC raised its stake in shares of CDW Co. (NASDAQ:CDW) by 77.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,555 shares of the information technology services provider’s stock after buying an additional 4,156 shares during the quarter. Milestone Asset Management LLC’s holdings in CDW were worth $1,663,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in the stock. Robeco Institutional Asset Management B.V. grew its holdings in CDW by 9.7% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 18,471 shares of the information technology services provider’s stock valued at $3,215,000 after buying an additional 1,629 shares in the last quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO grew its holdings in shares of CDW by 57.3% in the fourth quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO now owns 12,714 shares of the information technology services provider’s stock valued at $2,213,000 after purchasing an additional 4,630 shares in the last quarter. KBC Group NV grew its holdings in shares of CDW by 3.3% in the fourth quarter. KBC Group NV now owns 30,753 shares of the information technology services provider’s stock valued at $5,352,000 after purchasing an additional 994 shares in the last quarter. Blue Trust Inc. grew its holdings in shares of CDW by 35.8% in the fourth quarter. Blue Trust Inc. now owns 1,859 shares of the information technology services provider’s stock valued at $324,000 after purchasing an additional 490 shares in the last quarter. Finally, AEGON ASSET MANAGEMENT UK Plc purchased a new position in shares of CDW in the fourth quarter valued at $7,527,000. 93.15% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on CDW shares. Barclays cut their target price on shares of CDW from $229.00 to $201.00 and set an “equal weight” rating for the company in a report on Thursday, October 31st. Redburn Atlantic assumed coverage on CDW in a research report on Friday, November 15th. They issued a “buy” rating and a $230.00 price target for the company. UBS Group lowered their price target on CDW from $233.00 to $220.00 and set a “buy” rating for the company in a research report on Tuesday, January 7th. Morgan Stanley raised their price target on CDW from $190.00 to $193.00 and gave the stock an “equal weight” rating in a research report on Monday, December 16th. Finally, JPMorgan Chase & Co. downgraded 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 research report on Monday, October 28th. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, CDW has a consensus rating of “Moderate Buy” and an average target price of $239.33.

CDW Stock Performance

Shares of CDW stock opened at $195.53 on Thursday. The firm has a market cap of $26.06 billion, a P/E ratio of 23.90, a P/E/G ratio of 5.26 and a beta of 1.01. The company has a current ratio of 1.40, a quick ratio of 1.28 and a debt-to-equity ratio of 2.39. CDW Co. has a 12 month low of $168.43 and a 12 month high of $263.37. The stock’s fifty day moving average price is $180.92 and its 200-day moving average price is $203.85.

CDW (NASDAQ:CDW) last posted its 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). CDW had a net margin of 5.33% and a return on equity of 58.31%. The company had revenue of $5.52 billion during the quarter, compared to analysts’ expectations of $5.72 billion. During the same quarter last year, the firm earned $2.60 EPS. CDW’s revenue for the quarter was down 2.0% on a year-over-year basis. On average, equities research analysts expect that CDW Co. will post 8.99 earnings per share for the current fiscal year.

CDW Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Monday, November 25th were paid a $0.625 dividend. This represents a $2.50 annualized dividend and a yield of 1.28%. The ex-dividend date of this dividend was Monday, November 25th. This is a positive change from CDW’s previous quarterly dividend of $0.62. CDW’s payout ratio is 30.56%.

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.