Ridgewood Investments LLC Acquires Shares of 600 CDW Co. (NASDAQ:CDW)

Ridgewood Investments LLC acquired a new stake in shares of CDW Co. (NASDAQ:CDW) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 600 shares of the information technology services provider’s stock, valued at approximately $104,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CDW. Commonwealth Equity Services LLC raised its stake in CDW by 4.9% during the 2nd quarter. Commonwealth Equity Services LLC now owns 8,118 shares of the information technology services provider’s stock valued at $1,817,000 after acquiring an additional 377 shares during the last quarter. Quest Partners LLC acquired a new position in CDW during the 2nd quarter worth approximately $35,000. Daiwa Securities Group Inc. increased its position in CDW by 10.1% during the 2nd quarter. Daiwa Securities Group Inc. now owns 22,379 shares of the information technology services provider’s stock worth $5,009,000 after purchasing an additional 2,056 shares during the period. Headlands Technologies LLC increased its position in CDW by 6.5% during the 2nd quarter. Headlands Technologies LLC now owns 1,074 shares of the information technology services provider’s stock worth $240,000 after purchasing an additional 66 shares during the period. Finally, AGF Management Ltd. increased its position in CDW by 9.8% during the 2nd quarter. AGF Management Ltd. now owns 10,190 shares of the information technology services provider’s stock worth $2,281,000 after purchasing an additional 912 shares during the period. 93.15% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have issued reports on CDW. UBS Group dropped their target price on CDW from $233.00 to $220.00 and set a “buy” rating on the stock in a research report on Tuesday. Redburn Atlantic began coverage on CDW in a research report on Friday, November 15th. They set a “buy” rating and a $230.00 target price on the stock. Morgan Stanley boosted their target price on CDW from $190.00 to $193.00 and gave the stock an “equal weight” rating in a research report on Monday, December 16th. JPMorgan Chase & Co. cut CDW from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $260.00 to $235.00 in a research report on Monday, October 28th. Finally, Barclays lowered their price target on CDW from $229.00 to $201.00 and set an “equal weight” rating on the stock in a report on Thursday, October 31st. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, CDW presently has an average rating of “Moderate Buy” and an average price target of $239.33.

CDW Price Performance

Shares of NASDAQ:CDW opened at $183.14 on Friday. The business’s fifty day moving average price is $180.40 and its two-hundred day moving average price is $206.98. The stock has a market cap of $24.41 billion, a PE ratio of 22.39, a price-to-earnings-growth ratio of 5.01 and a beta of 1.01. The company has a debt-to-equity ratio of 2.39, a quick ratio of 1.28 and a current ratio of 1.40. CDW Co. has a one year low of $168.43 and a one year high of $263.37.

CDW (NASDAQ:CDW) last announced its earnings results on Wednesday, October 30th. The information technology services provider reported $2.63 EPS for the quarter, missing analysts’ consensus estimates of $2.68 by ($0.05). The company had revenue of $5.52 billion for the quarter, compared to analyst estimates of $5.72 billion. CDW had a net margin of 5.33% and a return on equity of 58.31%. CDW’s quarterly revenue was down 2.0% compared to the same quarter last year. During the same quarter last year, the company posted $2.60 EPS. On average, analysts forecast that CDW Co. will post 8.99 EPS for the current fiscal year.

CDW Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Monday, November 25th were issued a dividend of $0.625 per share. This represents a $2.50 dividend on an annualized basis and a yield of 1.37%. The ex-dividend date was Monday, November 25th. This is a boost from CDW’s previous quarterly dividend of $0.62. CDW’s dividend payout ratio is 30.56%.

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.