Nicolet Advisory Services LLC Acquires 153 Shares of CDW Co. (NASDAQ:CDW)

Nicolet Advisory Services LLC raised its holdings in shares of CDW Co. (NASDAQ:CDW) by 4.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,328 shares of the information technology services provider’s stock after purchasing an additional 153 shares during the quarter. Nicolet Advisory Services LLC’s holdings in CDW were worth $726,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CDW. ORG Partners LLC acquired a new position in shares of CDW during the 2nd quarter worth approximately $34,000. Quest Partners LLC acquired a new stake in CDW during the second quarter worth approximately $35,000. Canoe Financial LP bought a new position in CDW during the 3rd quarter worth $37,000. Fortitude Family Office LLC raised its holdings in CDW by 350.0% in the 3rd quarter. Fortitude Family Office LLC now owns 171 shares of the information technology services provider’s stock valued at $39,000 after acquiring an additional 133 shares in the last quarter. Finally, Summit Securities Group LLC bought a new stake in shares of CDW during the 2nd quarter valued at $40,000. 93.15% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on CDW. Citigroup cut 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 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 company from $260.00 to $235.00 in a research report on Monday, October 28th. Barclays reduced their price target on shares of CDW from $229.00 to $201.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 31st. Finally, 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 price objective for the company. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $244.63.

CDW Stock Performance

Shares of CDW stock opened at $178.96 on Friday. The company’s 50 day moving average price is $209.49 and its two-hundred day moving average price is $218.45. The firm has a market capitalization of $23.85 billion, a P/E ratio of 21.88, a P/E/G ratio of 4.97 and a beta of 1.05. The company has a debt-to-equity ratio of 2.39, a current ratio of 1.40 and a quick ratio of 1.28. CDW Co. has a fifty-two week low of $172.95 and a fifty-two week high of $263.37.

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

CDW Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Monday, November 25th will be paid a $0.625 dividend. This is a boost from CDW’s previous quarterly dividend of $0.62. The ex-dividend date of this dividend is Monday, November 25th. This represents a $2.50 annualized dividend and a dividend yield of 1.40%. CDW’s dividend payout ratio is presently 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.