Private Trust Co. NA Increases Stock Position in CDW Co. (NASDAQ:CDW)

Private Trust Co. NA raised its holdings in shares of CDW Co. (NASDAQ:CDW) by 10.9% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,029 shares of the information technology services provider’s stock after purchasing an additional 200 shares during the period. Private Trust Co. NA’s holdings in CDW were worth $459,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. ORG Partners LLC bought a new stake in CDW in the 2nd quarter worth about $34,000. Quest Partners LLC bought a new stake in shares of CDW in the second quarter worth approximately $35,000. Canoe Financial LP purchased a new position in shares of CDW during the third quarter valued at approximately $37,000. Fortitude Family Office LLC lifted its position in CDW by 350.0% during 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 stake in CDW in the second quarter worth approximately $40,000. Institutional investors own 93.15% of the company’s stock.

CDW Price Performance

Shares of NASDAQ:CDW opened at $176.75 on Thursday. The company has a market capitalization of $23.55 billion, a P/E ratio of 21.61, a P/E/G ratio of 5.10 and a beta of 1.05. CDW Co. has a 1-year low of $172.95 and a 1-year high of $263.37. The firm’s 50 day simple moving average is $207.78 and its two-hundred day simple moving average is $217.81. 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 (NASDAQ:CDW) last released 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 firm had revenue of $5.52 billion for 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 firm’s quarterly revenue was down 2.0% compared to the same quarter last year. During the same quarter last year, the firm posted $2.60 EPS. Research analysts expect that CDW Co. will post 8.99 EPS for the current fiscal year.

CDW Increases Dividend

The firm also recently announced 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. The ex-dividend date of this dividend is Monday, November 25th. This represents a $2.50 annualized dividend and a dividend yield of 1.41%. This is a boost from CDW’s previous quarterly dividend of $0.62. CDW’s dividend payout ratio (DPR) is currently 30.56%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on CDW shares. Redburn Atlantic began coverage on CDW in a report on Friday, November 15th. They set a “buy” rating and a $230.00 price target on the stock. Citigroup cut CDW from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $250.00 to $245.00 in a research report on Tuesday, October 1st. JPMorgan Chase & Co. lowered shares of CDW from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $260.00 to $235.00 in a research report on Monday, October 28th. Finally, Barclays dropped their price objective 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. Four research 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.com, the company presently has an average rating of “Moderate Buy” and an average price target of $244.63.

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.