Fiduciary Trust Co Purchases 2,027 Shares of CDW Co. (NASDAQ:CDW)

Fiduciary Trust Co increased its position in CDW Co. (NASDAQ:CDW) by 109.7% in the 3rd quarter, HoldingsChannel reports. The fund owned 3,874 shares of the information technology services provider’s stock after purchasing an additional 2,027 shares during the period. Fiduciary Trust Co’s holdings in CDW were worth $877,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Quest Partners LLC purchased a new position in CDW during the 2nd quarter valued at about $35,000. ORG Partners LLC bought a new stake in CDW during the second quarter valued at $34,000. Canoe Financial LP bought a new position in CDW in the 3rd quarter worth about $37,000. Fortitude Family Office LLC grew its holdings in shares of CDW by 350.0% during the third quarter. Fortitude Family Office LLC now owns 171 shares of the information technology services provider’s stock worth $39,000 after purchasing an additional 133 shares in the last quarter. Finally, Summit Securities Group LLC bought a new stake in CDW during the second quarter valued at approximately $40,000. Institutional investors own 93.15% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on CDW. Citigroup cut shares of CDW from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $250.00 to $245.00 in a research report on Tuesday, October 1st. JPMorgan Chase & Co. downgraded CDW from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $260.00 to $235.00 in a research report on Monday, October 28th. Redburn Atlantic initiated coverage on CDW in a report on Friday, November 15th. They issued a “buy” rating and a $230.00 price objective for the company. Finally, Barclays decreased their price objective on CDW from $229.00 to $201.00 and set an “equal weight” rating on the stock in a report on Thursday, October 31st. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, CDW presently has an average rating of “Moderate Buy” and a consensus target price of $244.63.

CDW Trading Down 0.5 %

NASDAQ CDW opened at $175.93 on Friday. The firm has a market cap of $23.45 billion, a PE ratio of 21.51, a price-to-earnings-growth ratio of 4.97 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 stock has a 50-day moving average of $205.86 and a 200-day moving average of $217.24. The company has a current ratio of 1.40, a quick ratio of 1.28 and a debt-to-equity ratio of 2.39.

CDW (NASDAQ:CDW) last announced its quarterly earnings data on Wednesday, October 30th. The information technology services provider reported $2.63 earnings per share for the quarter, missing the consensus estimate of $2.68 by ($0.05). CDW had a net margin of 5.33% and a return on equity of 58.31%. The company had revenue of $5.52 billion during the quarter, compared to the consensus estimate of $5.72 billion. During the same quarter in the previous year, the firm posted $2.60 EPS. The business’s revenue for the quarter was down 2.0% compared to the same quarter last year. As a group, sell-side analysts forecast that CDW Co. will post 8.99 EPS for the current year.

CDW Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Monday, November 25th will be issued a $0.625 dividend. This represents a $2.50 dividend on an annualized basis and a yield of 1.42%. The ex-dividend date is Monday, November 25th. This is a positive change from CDW’s previous quarterly dividend of $0.62. CDW’s dividend payout ratio (DPR) is 30.56%.

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.