Tompkins Financial Corp Makes New $113,000 Investment in CDW Co. (NASDAQ:CDW)

Tompkins Financial Corp purchased a new stake in shares of CDW Co. (NASDAQ:CDW) during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 500 shares of the information technology services provider’s stock, valued at approximately $113,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. ORG Partners LLC bought a new stake in CDW during the second quarter valued at $34,000. Quest Partners LLC bought a new stake in shares of CDW during the 2nd quarter valued at about $35,000. Canoe Financial LP purchased a new position in shares of CDW during the third quarter worth about $37,000. Fortitude Family Office LLC increased its position in shares of CDW by 350.0% in the third quarter. Fortitude Family Office LLC now owns 171 shares of the information technology services provider’s stock worth $39,000 after purchasing an additional 133 shares during the last quarter. Finally, Summit Securities Group LLC purchased a new stake in CDW in the second quarter valued at approximately $40,000. 93.15% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

CDW has been the topic of a number of research analyst reports. JPMorgan Chase & Co. lowered shares of CDW from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $260.00 to $235.00 in a report on Monday, October 28th. Citigroup lowered CDW from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $250.00 to $245.00 in a research report on Tuesday, October 1st. Stifel Nicolaus raised their price target on shares of CDW from $250.00 to $260.00 and gave the stock a “buy” rating in a report on Wednesday, July 17th. Finally, Barclays dropped their target price on shares of CDW from $229.00 to $201.00 and set an “equal weight” rating for the company in a report on Thursday, October 31st. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $246.71.

CDW Price Performance

Shares of NASDAQ CDW opened at $199.87 on Friday. CDW Co. has a 1 year low of $187.73 and a 1 year high of $263.37. The company’s 50-day moving average is $216.50 and its 200 day moving average is $221.86. The company has a debt-to-equity ratio of 2.39, a current ratio of 1.40 and a quick ratio of 1.28. The stock has a market capitalization of $26.63 billion, a P/E ratio of 24.43, a P/E/G ratio of 5.66 and a beta of 1.05.

CDW (NASDAQ:CDW) last issued its quarterly earnings results on Wednesday, October 30th. The information technology services provider reported $2.63 earnings per share for the quarter, missing the consensus estimate of $2.68 by ($0.05). The company had revenue of $5.52 billion for the quarter, compared to the consensus estimate of $5.72 billion. CDW had a net margin of 5.33% and a return on equity of 58.31%. CDW’s revenue was down 2.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.60 earnings per share. On average, sell-side analysts expect that CDW Co. will post 9.05 earnings per share for the current year.

CDW Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Monday, November 25th will be issued a $0.625 dividend. The ex-dividend date of this dividend is Monday, November 25th. This is a boost from CDW’s previous quarterly dividend of $0.62. This represents a $2.50 annualized dividend and a yield of 1.25%. CDW’s payout ratio is 30.32%.

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.