Diversify Advisory Services LLC Makes New $525,000 Investment in CDW Co. (NASDAQ:CDW)

Diversify Advisory Services LLC bought a new position in shares of CDW Co. (NASDAQ:CDW) during the 1st quarter, Holdings Channel reports. The institutional investor bought 2,076 shares of the information technology services provider’s stock, valued at approximately $525,000.

Several other hedge funds have also recently bought and sold shares of CDW. Wellington Management Group LLP raised its holdings in shares of CDW by 29.1% in the fourth quarter. Wellington Management Group LLP now owns 3,464,886 shares of the information technology services provider’s stock valued at $787,638,000 after purchasing an additional 781,421 shares during the last quarter. First Trust Advisors LP raised its holdings in shares of CDW by 627.3% in the fourth quarter. First Trust Advisors LP now owns 625,781 shares of the information technology services provider’s stock valued at $142,252,000 after purchasing an additional 539,745 shares during the last quarter. Norges Bank acquired a new stake in shares of CDW in the fourth quarter valued at approximately $111,736,000. Royal Bank of Canada raised its holdings in shares of CDW by 54.3% in the third quarter. Royal Bank of Canada now owns 561,366 shares of the information technology services provider’s stock valued at $113,261,000 after purchasing an additional 197,479 shares during the last quarter. Finally, Pensioenfonds Rail & OV acquired a new stake in shares of CDW in the first quarter valued at approximately $44,711,000. 93.15% of the stock is currently owned by institutional investors and hedge funds.

CDW Stock Performance

Shares of NASDAQ:CDW traded down $1.81 during trading on Friday, reaching $216.30. 753,742 shares of the stock were exchanged, compared to its average volume of 890,578. CDW Co. has a 12 month low of $180.38 and a 12 month high of $263.37. The stock has a 50-day moving average price of $225.09 and a 200-day moving average price of $233.57. 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 firm has a market cap of $29.07 billion, a PE ratio of 27.00, a PEG ratio of 3.21 and a beta of 1.04.

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

CDW Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 11th. Investors 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 1.15%. The ex-dividend date of this dividend was Thursday, May 23rd. CDW’s dividend payout ratio is 30.96%.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Stifel Nicolaus lowered their price objective on shares of CDW from $265.00 to $250.00 and set a “buy” rating on the stock in a report on Thursday, May 2nd. Barclays decreased their target price on shares of CDW from $261.00 to $232.00 and set an “equal weight” rating for the company in a research note on Thursday, May 2nd. Evercore ISI raised their target price on shares of CDW from $250.00 to $300.00 and gave the company an “outperform” rating in a research note on Friday, March 22nd. Northcoast Research raised shares of CDW from a “neutral” rating to a “buy” rating and set a $270.00 target price for the company in a research note on Friday, June 7th. Finally, Citigroup decreased their target price on shares of CDW from $295.00 to $260.00 and set a “buy” rating for the company in a research note on Thursday, May 2nd. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $250.00.

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.