eCIO Inc. Invests $93,000 in CDW Corporation $CDW

eCIO Inc. bought a new stake in CDW Corporation (NASDAQ:CDW) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 583 shares of the information technology services provider’s stock, valued at approximately $93,000.

A number of other institutional investors have also added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD grew its stake in CDW by 444.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,632,119 shares of the information technology services provider’s stock valued at $261,564,000 after acquiring an additional 1,332,454 shares during the period. Voloridge Investment Management LLC bought a new position in shares of CDW in the 4th quarter worth $105,705,000. Manning & Napier Advisors LLC acquired a new stake in CDW in the 1st quarter valued at $74,908,000. Contour Asset Management LLC acquired a new stake in CDW in the 1st quarter valued at $64,505,000. Finally, Massachusetts Financial Services Co. MA increased its stake in CDW by 15.7% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 2,792,934 shares of the information technology services provider’s stock valued at $447,596,000 after purchasing an additional 378,841 shares in the last quarter. 93.15% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. JPMorgan Chase & Co. raised their price objective on shares of CDW from $185.00 to $205.00 and gave the company a “neutral” rating in a research note on Thursday, July 17th. Barclays lowered their target price on shares of CDW from $205.00 to $176.00 and set an “equal weight” rating on the stock in a report on Thursday, August 7th. UBS Group cut their price target on CDW from $210.00 to $200.00 and set a “buy” rating for the company in a research note on Thursday, August 7th. Finally, Citigroup boosted their price objective on CDW from $180.00 to $200.00 and gave the stock a “neutral” rating in a report on Friday, July 11th. Two investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, CDW has a consensus rating of “Hold” and a consensus price target of $202.00.

CDW Stock Down 3.0%

CDW stock opened at $165.73 on Friday. CDW Corporation has a fifty-two week low of $137.31 and a fifty-two week high of $230.86. The company has a debt-to-equity ratio of 2.28, a quick ratio of 1.22 and a current ratio of 1.35. The firm’s 50-day simple moving average is $171.21 and its 200 day simple moving average is $170.28. The stock has a market cap of $21.72 billion, a PE ratio of 20.59, a price-to-earnings-growth ratio of 2.84 and a beta of 0.98.

CDW (NASDAQ:CDW) last posted its earnings results on Wednesday, August 6th. The information technology services provider reported $2.60 EPS for the quarter, topping the consensus estimate of $2.49 by $0.11. CDW had a net margin of 4.92% and a return on equity of 53.63%. The firm had revenue of $5.98 billion for the quarter, compared to analysts’ expectations of $5.51 billion. During the same quarter last year, the firm earned $2.50 EPS. The company’s quarterly revenue was up 10.2% compared to the same quarter last year. Research analysts predict that CDW Corporation will post 9.41 EPS for the current fiscal year.

CDW Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Monday, August 25th were issued a dividend of $0.625 per share. This represents a $2.50 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date was Monday, August 25th. CDW’s dividend payout ratio (DPR) is 31.06%.

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.