HighPoint Advisor Group LLC Invests $592,000 in CDW Co. (NASDAQ:CDW)

HighPoint Advisor Group LLC purchased a new position in shares of CDW Co. (NASDAQ:CDW) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,606 shares of the information technology services provider’s stock, valued at approximately $592,000.

Several other large investors have also modified their holdings of the stock. Aviva PLC grew its holdings in CDW by 14.5% during the third quarter. Aviva PLC now owns 5,926 shares of the information technology services provider’s stock worth $1,196,000 after acquiring an additional 750 shares during the period. Envestnet Portfolio Solutions Inc. acquired a new position in CDW during the third quarter worth $875,000. Envestnet Asset Management Inc. grew its holdings in CDW by 15.2% during the third quarter. Envestnet Asset Management Inc. now owns 278,074 shares of the information technology services provider’s stock worth $56,104,000 after acquiring an additional 36,774 shares during the period. V Square Quantitative Management LLC acquired a new position in CDW during the third quarter worth $183,000. Finally, Hsbc Holdings PLC grew its holdings in CDW by 30.8% during the third quarter. Hsbc Holdings PLC now owns 261,172 shares of the information technology services provider’s stock worth $52,694,000 after acquiring an additional 61,457 shares during the period. Hedge funds and other institutional investors own 93.15% of the company’s stock.

CDW Price Performance

Shares of NASDAQ CDW opened at $230.55 on Wednesday. The firm has a market cap of $30.99 billion, a PE ratio of 28.78, a price-to-earnings-growth ratio of 3.29 and a beta of 1.06. CDW Co. has a fifty-two week low of $170.96 and a fifty-two week high of $263.37. The company has a quick ratio of 1.13, a current ratio of 1.26 and a debt-to-equity ratio of 2.35. The business has a 50 day moving average price of $229.42 and a two-hundred day moving average price of $233.06.

CDW (NASDAQ:CDW) last announced its earnings results on Wednesday, May 1st. The information technology services provider reported $1.89 earnings per share for the quarter, missing the consensus estimate of $2.04 by ($0.15). The business had revenue of $4.87 billion for the quarter, compared to the consensus estimate of $4.94 billion. CDW had a net margin of 5.16% and a return on equity of 67.56%. Sell-side analysts expect that CDW Co. will post 9.67 earnings per share for the current fiscal year.

CDW Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 11th. Stockholders of record on Friday, May 24th were paid a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a dividend yield of 1.08%. The ex-dividend date of this dividend was Thursday, May 23rd. CDW’s dividend payout ratio is presently 30.96%.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Northcoast Research raised CDW from a “neutral” rating to a “buy” rating and set a $270.00 target price on the stock in a report on Friday, June 7th. Stifel Nicolaus lowered their target price on CDW from $265.00 to $250.00 and set a “buy” rating on the stock in a report on Thursday, May 2nd. JPMorgan Chase & Co. lowered their target price on CDW from $280.00 to $265.00 and set an “overweight” rating on the stock in a report on Thursday, May 2nd. Citigroup lowered their target price on CDW from $295.00 to $260.00 and set a “buy” rating on the stock in a report on Thursday, May 2nd. Finally, Barclays lowered their target price on CDW from $261.00 to $232.00 and set an “equal weight” rating on the stock in a report on Thursday, May 2nd. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $250.00.

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.