HB Wealth Management LLC Grows Stock Holdings in CDW Co. (NASDAQ:CDW)

HB Wealth Management LLC boosted its stake in CDW Co. (NASDAQ:CDW) by 5.1% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,543 shares of the information technology services provider’s stock after acquiring an additional 75 shares during the period. HB Wealth Management LLC’s holdings in CDW were worth $395,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of CDW. Tsfg LLC purchased a new position in shares of CDW in the 1st quarter valued at about $26,000. VisionPoint Advisory Group LLC acquired a new stake in CDW in the 3rd quarter valued at about $28,000. Larson Financial Group LLC acquired a new stake in CDW in the 4th quarter valued at about $30,000. Rise Advisors LLC acquired a new position in CDW during the first quarter worth about $34,000. Finally, Orion Capital Management LLC acquired a new position in shares of CDW during the 3rd quarter worth approximately $35,000. Institutional investors and hedge funds own 93.15% of the company’s stock.

CDW Stock Down 0.8 %

NASDAQ:CDW traded down $1.73 during mid-day trading on Friday, reaching $216.38. The stock had a trading volume of 315,914 shares, compared to its average volume of 778,638. The stock’s 50 day simple moving average is $225.61 and its two-hundred day simple moving average is $233.62. CDW Co. has a 1-year low of $180.38 and a 1-year high of $263.37. The company has a market capitalization of $29.08 billion, a price-to-earnings ratio of 27.23, a price-to-earnings-growth ratio of 3.21 and a beta of 1.04. The company has a debt-to-equity ratio of 2.35, a current ratio of 1.26 and a quick ratio of 1.13.

CDW (NASDAQ:CDW) last announced its quarterly earnings results on Wednesday, May 1st. The information technology services provider reported $1.89 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.04 by ($0.15). The business had revenue of $4.87 billion for the quarter, compared to analyst estimates of $4.94 billion. CDW had a return on equity of 67.56% and a net margin of 5.16%. Equities analysts anticipate that CDW Co. will post 9.67 EPS for the current year.

CDW Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 11th. Investors of record on Friday, May 24th were paid a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a yield of 1.15%. The ex-dividend date was Thursday, May 23rd. CDW’s dividend payout ratio is presently 30.96%.

Analyst Upgrades and Downgrades

CDW has been the subject of a number of analyst reports. Barclays cut their price objective on shares of CDW from $261.00 to $232.00 and set an “equal weight” rating for the company in a research report on Thursday, May 2nd. Evercore ISI raised their price target on CDW from $250.00 to $300.00 and gave the stock an “outperform” rating in a research note on Friday, March 22nd. JPMorgan Chase & Co. dropped their price objective on shares of CDW from $280.00 to $265.00 and set an “overweight” rating for the company in a research note on Thursday, May 2nd. Northcoast Research raised shares of CDW from a “neutral” rating to a “buy” rating and set a $270.00 target price on the stock in a research report on Friday, June 7th. Finally, Stifel Nicolaus dropped their price target on shares of CDW from $265.00 to $250.00 and set a “buy” rating for the company in a research report on Thursday, May 2nd. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $250.00.

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.