Riverwater Partners LLC Acquires 474 Shares of CDW Co. (NASDAQ:CDW)

Riverwater Partners LLC grew its holdings in shares of CDW Co. (NASDAQ:CDW) by 49.1% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,439 shares of the information technology services provider’s stock after buying an additional 474 shares during the quarter. Riverwater Partners LLC’s holdings in CDW were worth $316,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of CDW. Tsfg LLC bought a new position in shares of CDW during the first quarter worth approximately $26,000. Quest Partners LLC bought a new position in CDW in the second quarter valued at approximately $35,000. ORG Partners LLC bought a new position in CDW in the second quarter valued at about $34,000. Summit Securities Group LLC acquired a new position in CDW during the second quarter worth about $40,000. Finally, Continuum Advisory LLC boosted its stake in shares of CDW by 1,692.3% in the 2nd quarter. Continuum Advisory LLC now owns 233 shares of the information technology services provider’s stock valued at $52,000 after purchasing an additional 220 shares in the last quarter. 93.15% of the stock is currently owned by institutional investors and hedge funds.

CDW Stock Performance

NASDAQ CDW opened at $217.65 on Thursday. The company has a debt-to-equity ratio of 2.03, a quick ratio of 1.02 and a current ratio of 1.13. The company has a market capitalization of $29.25 billion, a PE ratio of 27.17, a price-to-earnings-growth ratio of 3.42 and a beta of 1.03. The company has a 50-day simple moving average of $221.67 and a 200 day simple moving average of $225.21. CDW Co. has a 52-week low of $185.04 and a 52-week high of $263.37.

CDW (NASDAQ:CDW) last posted its quarterly earnings results on Wednesday, July 31st. The information technology services provider reported $2.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.39 by ($0.05). The business had revenue of $5.42 billion during the quarter, compared to the consensus estimate of $5.43 billion. CDW had a net margin of 5.29% and a return on equity of 62.22%. The business’s revenue for the quarter was down 3.6% on a year-over-year basis. During the same period last year, the firm earned $2.43 EPS. On average, research analysts predict that CDW Co. will post 9.4 EPS for the current year.

CDW Announces Dividend

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

Insiders Place Their Bets

In other CDW news, insider Christine A. Leahy bought 1,200 shares of CDW stock in a transaction that occurred on Thursday, August 1st. The stock was acquired at an average cost of $216.15 per share, for a total transaction of $259,380.00. Following the completion of the transaction, the insider now directly owns 102,200 shares in the company, valued at $22,090,530. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.90% of the company’s stock.

Analyst Ratings Changes

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

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.