Congress Wealth Management LLC DE Boosts Stock Holdings in CDW Co. (NASDAQ:CDW)

Congress Wealth Management LLC DE grew its position in shares of CDW Co. (NASDAQ:CDWGet Rating) by 7.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,857 shares of the information technology services provider’s stock after acquiring an additional 491 shares during the quarter. Congress Wealth Management LLC DE’s holdings in CDW were worth $1,080,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently bought and sold shares of the company. Trust Co. of Vermont purchased a new position in CDW during the 2nd quarter worth $72,000. Mutual of America Capital Management LLC raised its stake in shares of CDW by 1.1% during the 1st quarter. Mutual of America Capital Management LLC now owns 18,116 shares of the information technology services provider’s stock worth $3,241,000 after purchasing an additional 191 shares during the period. UMB Bank n.a. raised its stake in shares of CDW by 45.0% during the 2nd quarter. UMB Bank n.a. now owns 2,755 shares of the information technology services provider’s stock worth $434,000 after purchasing an additional 855 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of CDW by 18.1% during the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 50,956 shares of the information technology services provider’s stock worth $8,029,000 after purchasing an additional 7,816 shares during the period. Finally, Rothschild & Co. Asset Management US Inc. raised its stake in shares of CDW by 2.6% during the 1st quarter. Rothschild & Co. Asset Management US Inc. now owns 26,570 shares of the information technology services provider’s stock worth $4,753,000 after purchasing an additional 684 shares during the period. 92.45% of the stock is owned by hedge funds and other institutional investors.

CDW Stock Up 0.7 %

CDW stock opened at $189.24 on Thursday. The company has a quick ratio of 1.12, a current ratio of 1.29 and a debt-to-equity ratio of 4.60. The firm has a market capitalization of $25.62 billion, a PE ratio of 24.87, a PEG ratio of 1.55 and a beta of 1.12. CDW Co. has a twelve month low of $147.91 and a twelve month high of $208.71. The stock has a 50-day simple moving average of $168.61 and a two-hundred day simple moving average of $169.36.

CDW Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 9th. Stockholders of record on Friday, November 25th will be issued a dividend of $0.59 per share. This is a positive change from CDW’s previous quarterly dividend of $0.50. The ex-dividend date is Wednesday, November 23rd. This represents a $2.36 annualized dividend and a dividend yield of 1.25%. CDW’s payout ratio is presently 26.28%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on CDW. Citigroup lowered their price objective on CDW from $220.00 to $210.00 and set a “buy” rating on the stock in a research note on Thursday, November 3rd. StockNews.com began coverage on CDW in a research note on Wednesday, October 12th. They issued a “hold” rating on the stock. Morgan Stanley boosted their price objective on CDW from $200.00 to $210.00 and gave the company an “overweight” rating in a research note on Thursday, November 3rd. Credit Suisse Group began coverage on CDW in a research note on Tuesday, August 16th. They issued an “outperform” rating and a $202.00 price objective on the stock. Finally, Raymond James lowered their price objective on CDW from $220.00 to $200.00 and set an “outperform” rating on the stock in a research note on Thursday, November 3rd. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $206.00.

CDW Company Profile

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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 data center and networking, digital workspace, and security.

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Institutional Ownership by Quarter for CDW (NASDAQ:CDW)

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