Kathmere Capital Management LLC Grows Stake in CDW Co. (NASDAQ:CDW)

Kathmere Capital Management LLC raised its stake in CDW Co. (NASDAQ:CDW) by 7.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,525 shares of the information technology services provider’s stock after acquiring an additional 185 shares during the quarter. Kathmere Capital Management LLC’s holdings in CDW were worth $646,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. UBS Group AG lifted its stake in shares of CDW by 60.7% during the 4th quarter. UBS Group AG now owns 194,686 shares of the information technology services provider’s stock valued at $44,256,000 after buying an additional 73,503 shares in the last quarter. Raymond James Financial Services Advisors Inc. lifted its stake in CDW by 16.1% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 49,011 shares of the information technology services provider’s stock worth $11,141,000 after purchasing an additional 6,799 shares in the last quarter. Cerity Partners LLC lifted its stake in CDW by 44.9% in the 4th quarter. Cerity Partners LLC now owns 14,553 shares of the information technology services provider’s stock worth $3,308,000 after purchasing an additional 4,511 shares in the last quarter. Rafferty Asset Management LLC lifted its stake in CDW by 157.3% in the 4th quarter. Rafferty Asset Management LLC now owns 90,362 shares of the information technology services provider’s stock worth $20,541,000 after purchasing an additional 55,239 shares in the last quarter. Finally, Insight Wealth Strategies LLC purchased a new stake in CDW in the 1st quarter worth approximately $3,940,000. 93.15% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have issued reports on CDW. Barclays lowered their target price on shares of CDW from $261.00 to $232.00 and set an “equal weight” rating on the stock in a research note on Thursday, May 2nd. Citigroup lowered their target price on shares of CDW from $295.00 to $260.00 and set a “buy” rating on the stock in a research note on Thursday, May 2nd. Northcoast Research upgraded shares of CDW from a “neutral” rating to a “buy” rating and set a $270.00 price objective on the stock in a research report on Friday, June 7th. JPMorgan Chase & Co. lowered their price target on CDW from $280.00 to $265.00 and set an “overweight” rating on the stock in a research report on Thursday, May 2nd. Finally, Evercore ISI lifted their price target on CDW from $250.00 to $300.00 and gave the stock an “outperform” rating in a research note on Friday, March 22nd. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, CDW presently has a consensus rating of “Moderate Buy” and a consensus target price of $250.00.

CDW Trading Down 0.1 %

NASDAQ CDW opened at $223.84 on Friday. CDW Co. has a 1-year low of $176.89 and a 1-year high of $263.37. The company has a current ratio of 1.26, a quick ratio of 1.13 and a debt-to-equity ratio of 2.35. The stock has a 50-day moving average of $227.37 and a 200-day moving average of $233.76. The firm has a market cap of $30.08 billion, a PE ratio of 27.95, a price-to-earnings-growth ratio of 3.30 and a beta of 1.06.

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

CDW Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 11th. Shareholders of record on Friday, May 24th were given a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a yield of 1.11%. The ex-dividend date of this dividend was Thursday, May 23rd. CDW’s payout ratio is 30.96%.

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.