Diversify Wealth Management LLC Purchases 1,011 Shares of CDW Co. (NASDAQ:CDW)

Diversify Wealth Management LLC grew its position in shares of CDW Co. (NASDAQ:CDW) by 45.5% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,232 shares of the information technology services provider’s stock after buying an additional 1,011 shares during the quarter. Diversify Wealth Management LLC’s holdings in CDW were worth $592,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Canoe Financial LP bought a new position in shares of CDW during the 3rd quarter worth approximately $37,000. Fortitude Family Office LLC lifted its position in shares of CDW by 350.0% during the 3rd quarter. Fortitude Family Office LLC now owns 171 shares of the information technology services provider’s stock worth $39,000 after buying an additional 133 shares in the last quarter. Ashton Thomas Securities LLC bought a new stake in shares of CDW in the 3rd quarter worth approximately $43,000. Covestor Ltd raised its holdings in shares of CDW by 80.1% in the 3rd quarter. Covestor Ltd now owns 245 shares of the information technology services provider’s stock worth $55,000 after purchasing an additional 109 shares during the period. Finally, Kimelman & Baird LLC bought a new stake in shares of CDW in the 2nd quarter worth approximately $56,000. Institutional investors own 93.15% of the company’s stock.

CDW Stock Up 1.5 %

CDW opened at $191.59 on Wednesday. The company has a fifty day moving average price of $178.94 and a 200-day moving average price of $204.80. The firm has a market capitalization of $25.53 billion, a P/E ratio of 23.42, a price-to-earnings-growth ratio of 5.11 and a beta of 1.01. The company has a debt-to-equity ratio of 2.39, a current ratio of 1.40 and a quick ratio of 1.28. CDW Co. has a one year low of $168.43 and a one year high of $263.37.

CDW (NASDAQ:CDW) last released its quarterly 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 firm had revenue of $5.52 billion for the quarter, compared to analysts’ expectations of $5.72 billion. CDW had a net margin of 5.33% and a return on equity of 58.31%. The firm’s revenue for the quarter was down 2.0% on a year-over-year basis. During the same quarter last year, the firm earned $2.60 earnings per share. Equities research analysts expect that CDW Co. will post 8.99 earnings per share for the current fiscal year.

CDW Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Monday, November 25th were given a $0.625 dividend. The ex-dividend date of this dividend was Monday, November 25th. This is a positive change from CDW’s previous quarterly dividend of $0.62. This represents a $2.50 annualized dividend and a yield of 1.30%. CDW’s payout ratio is 30.56%.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. Citigroup cut shares of CDW from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $250.00 to $245.00 in a report on Tuesday, October 1st. Redburn Atlantic assumed coverage on shares of CDW in a report on Friday, November 15th. They issued a “buy” rating and a $230.00 price target on the stock. UBS Group lowered their price target on shares of CDW from $233.00 to $220.00 and set a “buy” rating on the stock in a report on Tuesday, January 7th. JPMorgan Chase & Co. cut shares of CDW from an “overweight” rating to a “neutral” rating and lowered their price target for the stock from $260.00 to $235.00 in a report on Monday, October 28th. Finally, Barclays lowered their target price on shares of CDW from $229.00 to $201.00 and set an “equal weight” rating on the stock in a report on Thursday, October 31st. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $239.33.

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.