Custom Index Systems LLC Takes Position in CDW Co. (NASDAQ:CDW)

Custom Index Systems LLC bought a new position in shares of CDW Co. (NASDAQ:CDW) in the third quarter, Holdings Channel.com reports. The fund bought 949 shares of the information technology services provider’s stock, valued at approximately $215,000.

Several other hedge funds and other institutional investors have also bought and sold shares of CDW. ORG Partners LLC acquired a new position in CDW in the second quarter valued at approximately $34,000. Quest Partners LLC acquired a new position in shares of CDW during the 2nd quarter valued at $35,000. Summit Securities Group LLC acquired a new position in shares of CDW during the 2nd quarter valued at $40,000. Continuum Advisory LLC boosted its stake in CDW by 1,692.3% during the second quarter. Continuum Advisory LLC now owns 233 shares of the information technology services provider’s stock worth $52,000 after acquiring an additional 220 shares in the last quarter. Finally, Kimelman & Baird LLC acquired a new stake in CDW in the second quarter worth $56,000. Institutional investors and hedge funds own 93.15% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. Barclays reduced their target price on CDW from $232.00 to $229.00 and set an “equal weight” rating for the company in a research note on Thursday, August 1st. Stifel Nicolaus raised their price objective on CDW from $250.00 to $260.00 and gave the company a “buy” rating in a research note on Wednesday, July 17th. Finally, Citigroup lowered CDW from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $250.00 to $245.00 in a research report on Tuesday, October 1st. Three analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $255.00.

CDW Stock Performance

Shares of CDW stock opened at $217.01 on Monday. The company has a market cap of $29.17 billion, a PE ratio of 27.09, a price-to-earnings-growth ratio of 3.42 and a beta of 1.03. The company has a quick ratio of 1.02, a current ratio of 1.13 and a debt-to-equity ratio of 2.03. CDW Co. has a 52 week low of $185.04 and a 52 week high of $263.37. The business has a 50 day moving average price of $221.50 and a 200-day moving average price of $224.54.

CDW (NASDAQ:CDW) last posted its quarterly earnings data on Wednesday, July 31st. The information technology services provider reported $2.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.39 by ($0.05). The firm had revenue of $5.42 billion for the quarter, compared to analysts’ expectations of $5.43 billion. CDW had a return on equity of 62.22% and a net margin of 5.29%. CDW’s revenue was down 3.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.43 earnings per share. Equities analysts anticipate that CDW Co. will post 9.4 earnings per share for the current fiscal year.

CDW Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Monday, August 26th were issued a dividend of $0.62 per share. The ex-dividend date of this dividend was Monday, August 26th. This represents a $2.48 dividend on an annualized basis and a yield of 1.14%. CDW’s dividend payout ratio (DPR) is currently 30.96%.

Insiders Place Their Bets

In other CDW news, insider Christine A. Leahy bought 1,200 shares of the firm’s stock in a transaction dated Thursday, August 1st. The stock was purchased at an average cost of $216.15 per share, with a total value of $259,380.00. Following the transaction, the insider now directly owns 102,200 shares in the company, valued at $22,090,530. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.90% of the company’s stock.

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.