Summit Trail Advisors LLC Boosts Stock Position in CDW Co. (NASDAQ:CDW)

Summit Trail Advisors LLC lifted its position in shares of CDW Co. (NASDAQ:CDW) by 5.3% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,984 shares of the information technology services provider’s stock after buying an additional 199 shares during the period. Summit Trail Advisors LLC’s holdings in CDW were worth $902,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. ORG Partners LLC bought a new position in shares of CDW during the second quarter valued at about $34,000. Quest Partners LLC bought a new position in CDW during the 2nd quarter worth approximately $35,000. Canoe Financial LP purchased a new position in CDW in the 3rd quarter worth approximately $37,000. Fortitude Family Office LLC increased its stake in CDW by 350.0% in the 3rd 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 during the period. Finally, Summit Securities Group LLC bought a new stake in CDW in the second quarter valued at approximately $40,000. Institutional investors own 93.15% of the company’s stock.

CDW Stock Up 1.7 %

Shares of NASDAQ:CDW opened at $181.34 on Tuesday. The company has a debt-to-equity ratio of 2.39, a quick ratio of 1.28 and a current ratio of 1.40. CDW Co. has a 52-week low of $172.95 and a 52-week high of $263.37. The firm has a market capitalization of $24.17 billion, a P/E ratio of 22.17, a P/E/G ratio of 5.03 and a beta of 1.05. The stock has a 50 day moving average price of $209.49 and a 200-day moving average price of $218.42.

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

CDW Increases Dividend

The firm also recently disclosed 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 1.38%. The ex-dividend date is Monday, November 25th. This is a boost from CDW’s previous quarterly dividend of $0.62. CDW’s dividend payout ratio is 30.56%.

Analyst Ratings Changes

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

CDW 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.