Tompkins Financial Corp Purchases New Stake in CDW Co. (NASDAQ:CDW)

Tompkins Financial Corp acquired a new stake in CDW Co. (NASDAQ:CDW) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 500 shares of the information technology services provider’s stock, valued at approximately $113,000.

A number of other hedge funds have also recently made changes to their positions in CDW. ORG Partners LLC acquired a new position in CDW during the 2nd quarter valued at about $34,000. Quest Partners LLC bought a new position in shares of CDW in the second quarter valued at approximately $35,000. Canoe Financial LP purchased a new position in shares of CDW during the third quarter valued at approximately $37,000. Fortitude Family Office LLC grew its holdings in CDW by 350.0% during the third quarter. Fortitude Family Office LLC now owns 171 shares of the information technology services provider’s stock worth $39,000 after buying an additional 133 shares in the last quarter. Finally, Summit Securities Group LLC purchased a new stake in CDW in the 2nd quarter valued at $40,000. 93.15% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CDW has been the subject of several recent analyst reports. Barclays reduced their target price 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. Citigroup downgraded shares of CDW from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $250.00 to $245.00 in a research report on Tuesday, October 1st. JPMorgan Chase & Co. cut shares of CDW from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $260.00 to $235.00 in a research report on Monday, October 28th. Finally, Stifel Nicolaus upped their target price on CDW from $250.00 to $260.00 and gave the company a “buy” rating in a report on Wednesday, July 17th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $246.71.

CDW Price Performance

CDW stock opened at $199.87 on Friday. The business’s 50 day simple moving average is $216.50 and its 200 day simple moving average is $221.86. CDW Co. has a 12 month low of $187.73 and a 12 month high of $263.37. The company has a market cap of $26.63 billion, a price-to-earnings ratio of 24.43, a PEG ratio of 5.66 and a beta of 1.05. The company has a current ratio of 1.40, a quick ratio of 1.28 and a debt-to-equity ratio of 2.39.

CDW (NASDAQ:CDW) last posted its quarterly earnings results on Wednesday, October 30th. The information technology services provider reported $2.63 earnings per share for the quarter, missing the consensus estimate of $2.68 by ($0.05). CDW had a return on equity of 58.31% and a net margin of 5.33%. The firm had revenue of $5.52 billion for the quarter, compared to the consensus estimate of $5.72 billion. During the same quarter in the previous year, the company posted $2.60 EPS. The firm’s revenue was down 2.0% compared to the same quarter last year. Sell-side analysts forecast that CDW Co. will post 9.05 EPS for the current year.

CDW Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Monday, November 25th will be given a $0.625 dividend. The ex-dividend date of this dividend is Monday, November 25th. This represents a $2.50 annualized dividend and a dividend yield of 1.25%. This is a positive change from CDW’s previous quarterly dividend of $0.62. CDW’s payout ratio is 30.32%.

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.