CDW Co. (NASDAQ:CDW) Shares Purchased by Insight Wealth Strategies LLC

Insight Wealth Strategies LLC raised its stake in shares of CDW Co. (NASDAQ:CDW) by 13.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 19,772 shares of the information technology services provider’s stock after buying an additional 2,275 shares during the quarter. Insight Wealth Strategies LLC’s holdings in CDW were worth $3,441,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of CDW. Quest Partners LLC purchased a new stake in shares of CDW in the second quarter valued at $35,000. Canoe Financial LP purchased a new position in CDW in the 3rd quarter valued at about $37,000. Fortitude Family Office LLC boosted its stake 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 purchasing an additional 133 shares during the last quarter. Ashton Thomas Securities LLC purchased a new stake in shares of CDW during the third quarter worth about $43,000. Finally, Covestor Ltd raised its position in shares of CDW by 80.1% in the third quarter. Covestor Ltd now owns 245 shares of the information technology services provider’s stock valued at $55,000 after buying an additional 109 shares during the last quarter. Institutional investors and hedge funds own 93.15% of the company’s stock.

Analyst Upgrades and Downgrades

CDW has been the topic of a number of analyst reports. Redburn Atlantic started coverage on shares of CDW in a research report on Friday, November 15th. They set a “buy” rating and a $230.00 target price on the stock. JPMorgan Chase & Co. downgraded CDW from an “overweight” rating to a “neutral” rating and lowered their price objective for the company from $260.00 to $235.00 in a research report on Monday, October 28th. Morgan Stanley upped their target price on CDW from $190.00 to $193.00 and gave the company an “equal weight” rating in a research note on Monday, December 16th. Citigroup lowered CDW from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $250.00 to $245.00 in a research note on Tuesday, October 1st. Finally, Barclays dropped their price objective on shares of CDW from $229.00 to $201.00 and set an “equal weight” rating for the company in a research note on Thursday, October 31st. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $241.75.

CDW Trading Up 2.8 %

Shares of NASDAQ:CDW traded up $4.80 during trading on Monday, reaching $179.03. 758,811 shares of the stock were exchanged, compared to its average volume of 872,603. CDW Co. has a 12-month low of $168.43 and a 12-month high of $263.37. The firm’s 50-day moving average price is $182.37 and its 200 day moving average price is $208.09. The company has a debt-to-equity ratio of 2.39, a quick ratio of 1.28 and a current ratio of 1.40. The firm has a market cap of $23.86 billion, a price-to-earnings ratio of 21.89, a price-to-earnings-growth ratio of 5.01 and a beta of 1.01.

CDW (NASDAQ:CDW) last released its quarterly earnings data on Wednesday, October 30th. The information technology services provider reported $2.63 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.68 by ($0.05). The business had revenue of $5.52 billion during the quarter, compared to analyst estimates of $5.72 billion. CDW had a return on equity of 58.31% and a net margin of 5.33%. CDW’s revenue was down 2.0% on a year-over-year basis. During the same period in the previous year, the company earned $2.60 EPS. On average, sell-side analysts anticipate that CDW Co. will post 8.99 earnings per share for the current fiscal year.

CDW Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Monday, November 25th were paid a dividend of $0.625 per share. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.40%. The ex-dividend date was Monday, November 25th. This is a boost from CDW’s previous quarterly dividend of $0.62. CDW’s payout ratio is currently 30.56%.

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.