Zurcher Kantonalbank Zurich Cantonalbank Acquires 989 Shares of CDW Co. (NASDAQ:CDW)

Posted by Defense World Staff on Aug 13th, 2023

Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of CDW Co. (NASDAQ:CDW – Free Report) by 5.1% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 20,226 shares of the information technology services provider’s stock after acquiring an additional 989 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in CDW were worth $3,942,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Dark Forest Capital Management LP raised its position in CDW by 86.9% during the 4th quarter. Dark Forest Capital Management LP now owns 157 shares of the information technology services provider’s stock worth $28,000 after purchasing an additional 73 shares during the last quarter. Altshuler Shaham Ltd bought a new position in shares of CDW during the fourth quarter worth about $33,000. West Branch Capital LLC acquired a new position in shares of CDW in the first quarter worth approximately $39,000. Optimum Investment Advisors boosted its holdings in CDW by 2,757.1% in the first quarter. Optimum Investment Advisors now owns 200 shares of the information technology services provider’s stock valued at $39,000 after acquiring an additional 193 shares during the last quarter. Finally, Trust Co. of Vermont increased its position in CDW by 31.2% during the 4th quarter. Trust Co. of Vermont now owns 286 shares of the information technology services provider’s stock valued at $51,000 after purchasing an additional 68 shares during the period. Institutional investors and hedge funds own 94.73% of the company’s stock.

CDW Price Performance

Shares of CDW stock opened at $203.48 on Friday. The business’s 50 day moving average price is $184.83 and its 200-day moving average price is $186.18. CDW Co. has a fifty-two week low of $147.91 and a fifty-two week high of $215.00. The company has a debt-to-equity ratio of 3.55, a quick ratio of 1.14 and a current ratio of 1.30. The firm has a market cap of $27.28 billion, a P/E ratio of 25.89, a P/E/G ratio of 1.70 and a beta of 1.10.

CDW Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 12th. Shareholders of record on Friday, August 25th will be issued a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 1.16%. The ex-dividend date of this dividend is Thursday, August 24th. CDW’s dividend payout ratio (DPR) is presently 30.03%.

Analysts Set New Price Targets

CDW has been the topic of a number of recent analyst reports. Credit Suisse Group dropped their price target on shares of CDW from $195.00 to $190.00 in a research report on Thursday, May 4th. Stifel Nicolaus lowered their price objective on CDW from $215.00 to $205.00 and set a “buy” rating for the company in a research report on Wednesday, April 19th. JPMorgan Chase & Co. cut their target price on CDW from $225.00 to $205.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 19th. Citigroup assumed coverage on CDW in a report on Thursday, June 29th. They issued a “buy” rating and a $205.00 target price for the company. Finally, StockNews.com started coverage on CDW in a report on Thursday, May 18th. They set a “hold” rating on the stock. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, CDW currently has an average rating of “Moderate Buy” and a consensus target price of $207.00.

View Our Latest Analysis on CDW

CDW Profile

(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.