ProShare Advisors LLC raised its position in CDW Co. (NASDAQ:CDW – Free Report) by 15.7% during the first quarter, according to its most recent 13F filing with the SEC. The fund owned 42,225 shares of the information technology services provider’s stock after buying an additional 5,741 shares during the period. ProShare Advisors LLC’s holdings in CDW were worth $8,229,000 as of its most recent filing with the SEC.
Other hedge funds have also recently bought and sold shares of the company. Dark Forest Capital Management LP grew its holdings in shares of CDW by 86.9% in the 4th quarter. Dark Forest Capital Management LP now owns 157 shares of the information technology services provider’s stock valued at $28,000 after acquiring an additional 73 shares in the last quarter. Altshuler Shaham Ltd bought a new stake in shares of CDW during the fourth quarter worth $33,000. Orion Capital Management LLC bought a new stake in shares of CDW during the first quarter worth $34,000. West Branch Capital LLC bought a new stake in shares of CDW during the first quarter worth $39,000. Finally, Optimum Investment Advisors grew its stake in shares of CDW by 2,757.1% during the first quarter. Optimum Investment Advisors now owns 200 shares of the information technology services provider’s stock worth $39,000 after buying an additional 193 shares during the last quarter. 93.04% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
A number of analysts have weighed in on the stock. StockNews.com assumed coverage on shares of CDW in a research note on Thursday, August 17th. They set a “hold” rating on the stock. Citigroup assumed coverage on shares of CDW in a research note on Thursday, June 29th. They set a “buy” rating and a $205.00 target price on the stock. Raymond James boosted their price objective on shares of CDW from $200.00 to $220.00 and gave the stock an “outperform” rating in a research note on Thursday, August 3rd. Barclays boosted their price objective on shares of CDW from $198.00 to $216.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 3rd. Finally, Morgan Stanley boosted their price objective on shares of CDW from $200.00 to $230.00 and gave the stock an “overweight” rating in a research note on Thursday, August 3rd. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $207.00.
CDW Price Performance
CDW stock opened at $207.00 on Friday. The firm has a market cap of $27.75 billion, a price-to-earnings ratio of 26.34, a PEG ratio of 1.73 and a beta of 1.08. The company has a quick ratio of 1.14, a current ratio of 1.30 and a debt-to-equity ratio of 3.55. CDW Co. has a 12-month low of $147.91 and a 12-month high of $215.70. The company’s fifty day simple moving average is $199.85 and its 200 day simple moving average is $186.93.
CDW (NASDAQ:CDW – Get Free Report) last released its earnings results on Wednesday, August 2nd. The information technology services provider reported $2.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.25 by $0.18. The business had revenue of $5.63 billion for the quarter, compared to analyst estimates of $5.39 billion. CDW had a net margin of 4.81% and a return on equity of 83.33%. On average, analysts expect that CDW Co. will post 9.2 earnings per share for the current year.
CDW Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 12th. Stockholders of record on Friday, August 25th were issued a dividend of $0.59 per share. The ex-dividend date of this dividend was Thursday, August 24th. This represents a $2.36 annualized dividend and a dividend yield of 1.14%. CDW’s dividend payout ratio is currently 30.03%.
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, hybrid, and cloud capabilities across hybrid infrastructure, digital experience, and security.
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