Fortem Financial Group LLC Acquires 270 Shares of CDW Co. (NASDAQ:CDW)

Fortem Financial Group LLC grew its holdings in shares of CDW Co. (NASDAQ:CDW) by 5.8% in the 4th quarter, Holdings Channel.com reports. The fund owned 4,960 shares of the information technology services provider’s stock after purchasing an additional 270 shares during the period. Fortem Financial Group LLC’s holdings in CDW were worth $863,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Quest Partners LLC bought a new position in CDW during the 2nd quarter worth $35,000. Canoe Financial LP acquired a new position in shares of CDW in the third quarter worth approximately $37,000. Fortitude Family Office LLC boosted its holdings in CDW by 350.0% in the third 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 during the last quarter. Ashton Thomas Securities LLC bought a new stake in CDW in the third quarter valued at approximately $43,000. Finally, Covestor Ltd raised its holdings in CDW by 80.1% during the 3rd quarter. Covestor Ltd now owns 245 shares of the information technology services provider’s stock worth $55,000 after purchasing an additional 109 shares during the last quarter. Institutional investors and hedge funds own 93.15% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on CDW. Barclays reduced their price objective on shares of CDW from $229.00 to $201.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 31st. 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. Morgan Stanley raised their target price on CDW from $190.00 to $193.00 and gave the stock an “equal weight” rating in a research note on Monday, December 16th. Redburn Atlantic began coverage on CDW in a research note on Friday, November 15th. They issued a “buy” rating and a $230.00 price target on the stock. Finally, JPMorgan Chase & Co. downgraded shares of CDW from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $260.00 to $235.00 in a research report on Monday, October 28th. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, CDW currently has a consensus rating of “Moderate Buy” and an average target price of $241.75.

CDW Stock Up 2.5 %

Shares of CDW traded up $4.28 during trading hours on Monday, reaching $178.51. The stock had a trading volume of 936,803 shares, compared to its average volume of 941,315. The firm has a 50-day simple moving average of $182.37 and a 200 day simple moving average of $208.09. CDW Co. has a 12 month low of $168.43 and a 12 month high of $263.37. The company has a current ratio of 1.40, a quick ratio of 1.28 and a debt-to-equity ratio of 2.39. The company has a market capitalization of $23.79 billion, a price-to-earnings ratio of 21.82, a P/E/G ratio of 5.01 and a beta of 1.01.

CDW (NASDAQ:CDW) last issued its quarterly earnings data on Wednesday, October 30th. The information technology services provider reported $2.63 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.68 by ($0.05). CDW had a net margin of 5.33% and a return on equity of 58.31%. The business had revenue of $5.52 billion for the quarter, compared to analyst estimates of $5.72 billion. During the same quarter in the prior year, the business earned $2.60 earnings per share. The firm’s quarterly revenue was down 2.0% compared to the same quarter last year. Equities research analysts predict that CDW Co. will post 8.99 earnings per share for the current fiscal year.

CDW Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Monday, November 25th were paid a $0.625 dividend. The ex-dividend date was Monday, November 25th. This is an increase from CDW’s previous quarterly dividend of $0.62. This represents a $2.50 annualized dividend and a dividend yield of 1.40%. CDW’s dividend payout ratio is 30.56%.

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.