Tidal Investments LLC Grows Holdings in CDW Co. (NASDAQ:CDW)

Tidal Investments LLC grew its holdings in CDW Co. (NASDAQ:CDW) by 6.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 17,260 shares of the information technology services provider’s stock after acquiring an additional 1,088 shares during the period. Tidal Investments LLC’s holdings in CDW were worth $4,417,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Tsfg LLC purchased a new position in CDW in the 1st quarter valued at $26,000. Larson Financial Group LLC purchased a new stake in shares of CDW in the 4th quarter valued at $30,000. Rise Advisors LLC acquired a new stake in shares of CDW during the first quarter worth about $34,000. ORG Partners LLC purchased a new position in CDW in the 4th quarter valued at approximately $36,000. Finally, Oakworth Capital Inc. acquired a new position in shares of CDW in the fourth quarter worth $36,000. Hedge funds and other institutional investors own 93.15% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. Northcoast Research raised CDW from a “neutral” rating to a “buy” rating and set a $270.00 price objective for the company in a research report on Friday, June 7th. Citigroup dropped their price target on shares of CDW from $295.00 to $260.00 and set a “buy” rating on the stock in a research note on Thursday, May 2nd. Barclays reduced their price objective on shares of CDW from $232.00 to $229.00 and set an “equal weight” rating for the company in a research report on Thursday. JPMorgan Chase & Co. cut their price target on shares of CDW from $280.00 to $265.00 and set an “overweight” rating on the stock in a research note on Thursday, May 2nd. Finally, Stifel Nicolaus upped their target price on CDW from $250.00 to $260.00 and gave the company a “buy” rating in a research report on Wednesday, July 17th. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, CDW currently has a consensus rating of “Moderate Buy” and an average price target of $250.78.

CDW Trading Down 1.8 %

CDW stock traded down $3.83 during midday trading on Friday, reaching $209.76. 32,207 shares of the company’s stock traded hands, compared to its average volume of 802,095. CDW Co. has a fifty-two week low of $185.04 and a fifty-two week high of $263.37. The business has a 50-day moving average price of $226.07 and a two-hundred day moving average price of $234.34. The company has a market capitalization of $28.19 billion, a P/E ratio of 26.67, a PEG ratio of 3.24 and a beta of 1.04. The company has a debt-to-equity ratio of 2.35, a current ratio of 1.26 and a quick ratio of 1.13.

CDW (NASDAQ:CDW) last announced its earnings results on Wednesday, July 31st. The information technology services provider reported $2.34 EPS for the quarter, missing the consensus estimate of $2.39 by ($0.05). CDW had a net margin of 5.29% and a return on equity of 63.60%. The company had revenue of $5.42 billion for the quarter, compared to analysts’ expectations of $5.43 billion. During the same quarter in the previous year, the business posted $2.43 earnings per share. The business’s quarterly revenue was down 3.6% compared to the same quarter last year. Equities research analysts forecast that CDW Co. will post 9.6 EPS for the current fiscal year.

CDW Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Monday, August 26th will be given a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a dividend yield of 1.18%. The ex-dividend date is Monday, August 26th. CDW’s payout ratio is 30.96%.

Insider Activity at CDW

In other news, insider Sona Chawla sold 18,437 shares of the firm’s stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $240.45, for a total transaction of $4,433,176.65. Following the completion of the sale, the insider now owns 22,428 shares of the company’s stock, valued at $5,392,812.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.90% of the stock is currently owned by company insiders.

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.