Wealth Enhancement Advisory Services LLC Takes Position in CDW Co. (NASDAQ:CDW)

Posted by Defense World Staff on Jul 13th, 2023

Wealth Enhancement Advisory Services LLC bought a new stake in shares of CDW Co. (NASDAQ:CDW – Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 2,116 shares of the information technology services provider’s stock, valued at approximately $412,000.

A number of other institutional investors have also recently modified their holdings of CDW. Cambridge Investment Research Advisors Inc. boosted its holdings in CDW by 9.2% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 6,513 shares of the information technology services provider’s stock worth $1,165,000 after buying an additional 547 shares during the last quarter. Acadian Asset Management LLC acquired a new stake in CDW in the 1st quarter worth about $103,000. Panagora Asset Management Inc. boosted its holdings in CDW by 160.4% in the 1st quarter. Panagora Asset Management Inc. now owns 4,645 shares of the information technology services provider’s stock worth $831,000 after buying an additional 2,861 shares during the last quarter. Yousif Capital Management LLC boosted its holdings in CDW by 0.3% in the 1st quarter. Yousif Capital Management LLC now owns 20,523 shares of the information technology services provider’s stock worth $3,671,000 after buying an additional 65 shares during the last quarter. Finally, Blair William & Co. IL boosted its holdings in CDW by 1.5% in the 1st quarter. Blair William & Co. IL now owns 33,977 shares of the information technology services provider’s stock worth $6,078,000 after buying an additional 515 shares during the last quarter. 94.73% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Morgan Stanley lowered their price objective on CDW from $228.00 to $200.00 and set an “overweight” rating on the stock in a report on Wednesday, April 19th. JPMorgan Chase & Co. lowered their target price on CDW from $225.00 to $205.00 and set an “overweight” rating on the stock in a report on Wednesday, April 19th. StockNews.com assumed coverage on CDW in a report on Thursday, May 18th. They set a “hold” rating on the stock. Credit Suisse Group lowered their target price on CDW from $195.00 to $190.00 in a report on Thursday, May 4th. Finally, Bank of America lowered their target price on CDW from $200.00 to $185.00 in a report on Thursday, May 4th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $201.43.

CDW Stock Down 0.9 %

CDW stock opened at $186.54 on Thursday. The firm has a market cap of $25.14 billion, a PE ratio of 23.38, a PEG ratio of 1.55 and a beta of 1.10. The company has a debt-to-equity ratio of 3.66, a quick ratio of 1.15 and a current ratio of 1.31. The firm’s 50 day moving average price is $175.09 and its 200-day moving average price is $185.33. CDW Co. has a one year low of $147.91 and a one year high of $215.00.

CDW (NASDAQ:CDW – Get Free Report) last announced its earnings results on Wednesday, May 3rd. The information technology services provider reported $1.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.91 by $0.08. The company had revenue of $5.10 billion for the quarter, compared to analyst estimates of $5.10 billion. CDW had a return on equity of 90.20% and a net margin of 4.78%. On average, equities research analysts anticipate that CDW Co. will post 9.05 EPS for the current year.

CDW Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 13th. Shareholders of record on Thursday, May 25th were given a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 1.27%. The ex-dividend date was Wednesday, May 24th. CDW’s payout ratio is 29.57%.

Insider Buying and Selling at CDW

In other CDW news, insider Christine A. Leahy purchased 3,050 shares of the company’s stock in a transaction on Thursday, May 4th. The stock was acquired at an average price of $163.62 per share, for a total transaction of $499,041.00. Following the completion of the purchase, the insider now directly owns 68,622 shares in the company, valued at approximately $11,227,931.64. The purchase was disclosed in a filing with the SEC, which is available through this link. 0.85% of the stock is owned by corporate insiders.

About CDW

(Free Report)

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, hybrid, and cloud capabilities across hybrid infrastructure, digital experience, and security.