Janney Montgomery Scott LLC Acquires 348 Shares of CDW Co. (NASDAQ:CDW)

Janney Montgomery Scott LLC grew its stake in shares of CDW Co. (NASDAQ:CDW) by 0.9% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 38,893 shares of the information technology services provider’s stock after acquiring an additional 348 shares during the period. Janney Montgomery Scott LLC’s holdings in CDW were worth $6,769,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in CDW. Sei Investments Co. lifted its holdings in shares of CDW by 10.6% during the 2nd quarter. Sei Investments Co. now owns 29,927 shares of the information technology services provider’s stock valued at $6,699,000 after purchasing an additional 2,867 shares during the last quarter. AQR Capital Management LLC boosted its position in CDW by 8.8% in the 2nd quarter. AQR Capital Management LLC now owns 58,585 shares of the information technology services provider’s stock worth $13,114,000 after purchasing an additional 4,720 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in shares of CDW by 9.6% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 3,261 shares of the information technology services provider’s stock worth $730,000 after acquiring an additional 286 shares in the last quarter. Quarry LP purchased a new position in shares of CDW during the 2nd quarter valued at approximately $81,000. Finally, Kimelman & Baird LLC purchased a new position in CDW in the 2nd quarter valued at about $56,000. Hedge funds and other institutional investors own 93.15% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on CDW shares. Citigroup cut shares of CDW from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $250.00 to $245.00 in a research report on Tuesday, October 1st. JPMorgan Chase & Co. cut shares of CDW from an “overweight” rating to a “neutral” rating and decreased their price target for the company from $260.00 to $235.00 in a research report on Monday, October 28th. Redburn Atlantic began coverage on shares of CDW in a research report on Friday, November 15th. They issued a “buy” rating and a $230.00 price objective on the stock. Morgan Stanley raised their price objective on shares of CDW from $190.00 to $193.00 and gave the stock an “equal weight” rating in a report on Monday, December 16th. Finally, Barclays reduced their price objective on CDW from $229.00 to $201.00 and set an “equal weight” rating for the company in a research note on Thursday, October 31st. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, CDW currently has a consensus rating of “Moderate Buy” and a consensus price target of $239.33.

CDW Stock Performance

NASDAQ CDW opened at $194.76 on Wednesday. The company has a market capitalization of $25.95 billion, a PE ratio of 23.81, a price-to-earnings-growth ratio of 5.26 and a beta of 1.01. CDW Co. has a twelve month low of $168.43 and a twelve month high of $263.37. The company has a current ratio of 1.40, a quick ratio of 1.28 and a debt-to-equity ratio of 2.39. The business’s 50-day moving average price is $180.53 and its 200 day moving average price is $203.91.

CDW (NASDAQ:CDW) last released its quarterly earnings data 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 business had revenue of $5.52 billion during 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%. CDW’s revenue was down 2.0% on a year-over-year basis. During the same period in the previous year, the company earned $2.60 EPS. On average, research analysts predict that CDW Co. will post 8.99 earnings per share for the current year.

CDW Increases Dividend

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