Valley Wealth Managers Inc. Raises Holdings in CDW Co. (NASDAQ:CDW)

Valley Wealth Managers Inc. lifted its holdings in shares of CDW Co. (NASDAQ:CDW) by 4.6% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,537 shares of the information technology services provider’s stock after buying an additional 68 shares during the period. Valley Wealth Managers Inc.’s holdings in CDW were worth $393,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. Mediolanum International Funds Ltd purchased a new position in CDW in the 1st quarter valued at approximately $2,461,000. Coronation Fund Managers Ltd. increased its position in CDW by 31.9% during the first quarter. Coronation Fund Managers Ltd. now owns 41,169 shares of the information technology services provider’s stock worth $10,530,000 after buying an additional 9,945 shares in the last quarter. Rehmann Capital Advisory Group increased its position in CDW by 10.9% during the first quarter. Rehmann Capital Advisory Group now owns 1,748 shares of the information technology services provider’s stock worth $447,000 after buying an additional 172 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S increased its position in CDW by 18.5% during the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 2,554 shares of the information technology services provider’s stock worth $653,000 after buying an additional 399 shares in the last quarter. Finally, Central Pacific Bank Trust Division purchased a new position in CDW during the first quarter worth $2,235,000. 93.15% of the stock is owned by hedge funds and other institutional investors.

CDW Stock Up 1.7 %

Shares of NASDAQ CDW traded up $3.69 during midday trading on Thursday, reaching $222.56. 556,193 shares of the company’s stock were exchanged, compared to its average volume of 786,354. CDW Co. has a 52-week low of $184.99 and a 52-week high of $263.37. The stock has a market capitalization of $29.91 billion, a PE ratio of 27.32, a price-to-earnings-growth ratio of 3.20 and a beta of 1.04. The company has a debt-to-equity ratio of 2.35, a quick ratio of 1.13 and a current ratio of 1.26. The business’s fifty day moving average price is $224.05 and its two-hundred day moving average price is $233.47.

CDW (NASDAQ:CDW) last announced its 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). CDW had a return on equity of 67.56% and a net margin of 5.16%. The business had revenue of $4.87 billion for the quarter, compared to analysts’ expectations of $4.94 billion. Analysts forecast that CDW Co. will post 9.67 EPS for the current year.

CDW Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 11th. Investors of record on Friday, May 24th were issued a $0.62 dividend. This represents a $2.48 annualized dividend and a yield of 1.11%. The ex-dividend date was Thursday, May 23rd. CDW’s dividend payout ratio is currently 30.96%.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on CDW. Barclays decreased their price objective on CDW from $261.00 to $232.00 and set an “equal weight” rating on the stock in a report on Thursday, May 2nd. Citigroup decreased their price objective on CDW from $295.00 to $260.00 and set a “buy” rating on the stock in a report on Thursday, May 2nd. Stifel Nicolaus decreased their price objective on CDW from $265.00 to $250.00 and set a “buy” rating on the stock in a report on Thursday, May 2nd. Evercore ISI lifted their target price on CDW from $250.00 to $300.00 and gave the company an “outperform” rating in a report on Friday, March 22nd. Finally, Northcoast Research upgraded CDW from a “neutral” rating to a “buy” rating and set a $270.00 target price on the stock in a report on Friday, June 7th. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, CDW currently has a consensus rating of “Moderate Buy” and a consensus price target 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.