OneAscent Financial Services LLC Has $596,000 Stock Position in CDW Co. (NASDAQ:CDW)

OneAscent Financial Services LLC reduced its position in CDW Co. (NASDAQ:CDW) by 27.3% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 2,634 shares of the information technology services provider’s stock after selling 991 shares during the period. OneAscent Financial Services LLC’s holdings in CDW were worth $596,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. ORG Partners LLC acquired a new stake in CDW in the 2nd quarter valued at about $34,000. Quest Partners LLC bought a new position in CDW in the 2nd quarter valued at about $35,000. Canoe Financial LP bought a new position in CDW in the 3rd quarter valued at about $37,000. Fortitude Family Office LLC raised its holdings in CDW by 350.0% in the 3rd 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 bought a new position in CDW in the 2nd quarter valued at about $40,000. 93.15% of the stock is currently owned by institutional investors and hedge funds.

CDW Stock Up 0.2 %

Shares of CDW opened at $178.07 on Tuesday. CDW Co. has a 12 month low of $175.94 and a 12 month high of $263.37. The firm’s 50 day moving average is $212.76 and its 200-day moving average is $219.65. The stock has a market capitalization of $23.73 billion, a PE ratio of 21.77, a P/E/G ratio of 4.96 and a beta of 1.05. 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 (NASDAQ:CDW) last posted 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 firm had revenue of $5.52 billion for the quarter, compared to analyst estimates of $5.72 billion. CDW had a return on equity of 58.31% and a net margin of 5.33%. The business’s revenue was down 2.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.60 EPS. Equities research analysts forecast that CDW Co. will post 9.05 EPS for the current year.

CDW Increases Dividend

The company 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 dividend of $0.625 per share. This is a positive change from CDW’s previous quarterly dividend of $0.62. The ex-dividend date is Monday, November 25th. This represents a $2.50 annualized dividend and a dividend yield of 1.40%. CDW’s dividend payout ratio (DPR) is currently 30.32%.

Wall Street Analysts Forecast Growth

CDW has been the topic of several research analyst reports. Citigroup cut shares of CDW from a “buy” rating to a “neutral” rating and lowered their price target for the company from $250.00 to $245.00 in a report on Tuesday, October 1st. 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. JPMorgan Chase & Co. cut shares of CDW from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $260.00 to $235.00 in a report on Monday, October 28th. Finally, Redburn Atlantic initiated coverage on shares of CDW in a report on Friday. They set a “buy” rating and a $230.00 target price on the stock. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, CDW presently has a consensus rating of “Moderate Buy” and an average target price 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.