Forthright Family Wealth Advisory LLC Makes New Investment in CDW Co. (NASDAQ:CDW)

Forthright Family Wealth Advisory LLC purchased a new position in CDW Co. (NASDAQ:CDW) during the 4th quarter, according to its most recent disclosure with the SEC. The fund purchased 1,020 shares of the information technology services provider’s stock, valued at approximately $232,000.

Several other institutional investors also recently added to or reduced their stakes in the business. American International Group Inc. increased its position in shares of CDW by 24.2% during the fourth quarter. American International Group Inc. now owns 46,228 shares of the information technology services provider’s stock valued at $10,509,000 after purchasing an additional 9,003 shares during the period. EP Wealth Advisors LLC increased its position in shares of CDW by 78.8% during the fourth quarter. EP Wealth Advisors LLC now owns 4,214 shares of the information technology services provider’s stock valued at $958,000 after purchasing an additional 1,857 shares during the period. Virtu Financial LLC increased its position in shares of CDW by 60.2% during the fourth quarter. Virtu Financial LLC now owns 2,579 shares of the information technology services provider’s stock valued at $586,000 after purchasing an additional 969 shares during the period. Teachers Retirement System of The State of Kentucky increased its position in shares of CDW by 7.5% during the fourth quarter. Teachers Retirement System of The State of Kentucky now owns 135,232 shares of the information technology services provider’s stock valued at $30,741,000 after purchasing an additional 9,489 shares during the period. Finally, Neo Ivy Capital Management bought a new stake in shares of CDW during the fourth quarter valued at approximately $89,000. 93.15% of the stock is owned by institutional investors.

CDW Trading Down 0.8 %

NASDAQ CDW traded down $1.91 on Friday, reaching $223.19. The company had a trading volume of 577,970 shares, compared to its average volume of 836,922. The stock’s 50 day moving average is $230.45 and its 200-day moving average is $232.68. The stock has a market cap of $30.00 billion, a price-to-earnings ratio of 27.86, a PEG ratio of 3.29 and a beta of 1.06. The company has a quick ratio of 1.13, a current ratio of 1.26 and a debt-to-equity ratio of 2.35. CDW Co. has a 52 week low of $170.96 and a 52 week high of $263.37.

CDW (NASDAQ:CDW) last announced its quarterly earnings results on Wednesday, May 1st. The information technology services provider reported $1.89 earnings per share (EPS) for the quarter, missing the consensus estimate 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 during the quarter, compared to the consensus estimate of $4.94 billion. Equities analysts predict that CDW Co. will post 9.67 earnings per share for the current year.

CDW Announces Dividend

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

Analyst Upgrades and Downgrades

Several brokerages recently commented on CDW. Citigroup decreased their price target on CDW from $295.00 to $260.00 and set a “buy” rating on the stock in a research note on Thursday, May 2nd. Northcoast Research raised CDW from a “neutral” rating to a “buy” rating and set a $270.00 price target on the stock in a research note on Friday, June 7th. Evercore ISI boosted their price target on CDW from $250.00 to $300.00 and gave the company an “outperform” rating in a research note on Friday, March 22nd. JPMorgan Chase & Co. reduced their price objective on CDW from $280.00 to $265.00 and set an “overweight” rating on the stock in a research note on Thursday, May 2nd. Finally, Barclays reduced their price objective on CDW from $261.00 to $232.00 and set an “equal weight” rating on the stock in a research note on Thursday, May 2nd. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $250.00.

CDW Profile

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.