Private Advisor Group LLC Increases Holdings in CDW Co. (NASDAQ:CDW)

Private Advisor Group LLC lifted its position in CDW Co. (NASDAQ:CDW) by 10.7% in the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 3,708 shares of the information technology services provider’s stock after purchasing an additional 359 shares during the period. Private Advisor Group LLC’s holdings in CDW were worth $839,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of CDW. ORG Partners LLC acquired a new position in shares of CDW during the second quarter worth $34,000. Quest Partners LLC purchased a new stake in CDW in the second quarter valued at $35,000. Summit Securities Group LLC purchased a new stake in CDW in the second quarter valued at $40,000. Continuum Advisory LLC boosted its stake in shares of CDW by 1,692.3% during the 2nd quarter. Continuum Advisory LLC now owns 233 shares of the information technology services provider’s stock worth $52,000 after acquiring an additional 220 shares in the last quarter. Finally, Kimelman & Baird LLC purchased a new stake in shares of CDW during the 2nd quarter worth about $56,000. Institutional investors own 93.15% of the company’s stock.

CDW Stock Performance

Shares of CDW stock opened at $188.38 on Friday. CDW Co. has a one year low of $187.73 and a one year high of $263.37. The company has a debt-to-equity ratio of 2.39, a quick ratio of 1.02 and a current ratio of 1.40. The company has a 50 day moving average price of $219.30 and a 200 day moving average price of $223.35. The firm has a market capitalization of $25.16 billion, a price-to-earnings ratio of 23.03, a price-to-earnings-growth ratio of 2.96 and a beta of 1.03.

CDW (NASDAQ:CDW) last announced its earnings results on Wednesday, July 31st. The information technology services provider reported $2.34 earnings per share for the quarter, missing the consensus estimate of $2.39 by ($0.05). CDW had a net margin of 5.33% and a return on equity of 58.31%. The firm had revenue of $5.42 billion during the quarter, compared to analysts’ expectations of $5.43 billion. During the same quarter last year, the company posted $2.43 earnings per share. CDW’s revenue for the quarter was down 3.6% compared to the same quarter last year. Sell-side analysts anticipate that CDW Co. will post 9.38 EPS for the current year.

CDW Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Monday, November 25th will be given a $0.625 dividend. This is an increase from CDW’s previous quarterly dividend of $0.62. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.33%. The ex-dividend date is Monday, November 25th. CDW’s dividend payout ratio (DPR) is presently 30.32%.

Analysts Set New Price Targets

CDW has been the topic of a number of research reports. Stifel Nicolaus raised their price target on shares of CDW from $250.00 to $260.00 and gave the company a “buy” rating in a research note on Wednesday, July 17th. JPMorgan Chase & Co. downgraded shares of CDW from an “overweight” rating to a “neutral” rating and cut their price target for the stock from $260.00 to $235.00 in a report on Monday, October 28th. Barclays cut their price target on shares of CDW from $229.00 to $201.00 and set an “equal weight” rating for the company in a report on Thursday. Finally, Citigroup cut shares of CDW from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $250.00 to $245.00 in a research report on Tuesday, October 1st. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $246.71.

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.