RDA Financial Network Purchases 619 Shares of CDW Co. (NASDAQ:CDW)

RDA Financial Network grew its position in shares of CDW Co. (NASDAQ:CDW) by 37.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,256 shares of the information technology services provider’s stock after buying an additional 619 shares during the quarter. RDA Financial Network’s holdings in CDW were worth $393,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the company. Quest Partners LLC bought a new stake in CDW during the 2nd quarter worth approximately $35,000. Canoe Financial LP acquired a new stake in CDW in the 3rd quarter valued at about $37,000. Fortitude Family Office LLC raised its stake 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 acquiring an additional 133 shares during the last quarter. Ashton Thomas Securities LLC bought a new position in shares of CDW in the third quarter worth about $43,000. Finally, Covestor Ltd lifted its position in shares of CDW by 80.1% during the third quarter. Covestor Ltd now owns 245 shares of the information technology services provider’s stock worth $55,000 after purchasing an additional 109 shares in the last quarter. Institutional investors and hedge funds own 93.15% of the company’s stock.

CDW Stock Performance

Shares of CDW stock opened at $188.70 on Friday. The stock has a 50-day moving average of $179.13 and a 200-day moving average of $205.37. CDW Co. has a one year low of $168.43 and a one year high of $263.37. The stock has a market cap of $25.15 billion, a PE ratio of 23.07, a price-to-earnings-growth ratio of 4.91 and a beta of 1.01. The company has a debt-to-equity ratio of 2.39, a current ratio of 1.40 and a quick ratio of 1.28.

CDW (NASDAQ:CDW) last posted its 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 firm had revenue of $5.52 billion during the quarter, compared to analyst estimates of $5.72 billion. CDW had a return on equity of 58.31% and a net margin of 5.33%. The company’s revenue for the quarter was down 2.0% on a year-over-year basis. During the same quarter last year, the business posted $2.60 earnings per share. As a group, sell-side analysts expect that CDW Co. will post 8.99 earnings per share for the current year.

CDW Increases Dividend

The firm 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. The ex-dividend date of this dividend was Monday, November 25th. This is a positive change from CDW’s previous quarterly dividend of $0.62. This represents a $2.50 annualized dividend and a yield of 1.32%. CDW’s payout ratio is currently 30.56%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on CDW shares. Barclays dropped their price objective on shares of CDW from $229.00 to $201.00 and set an “equal weight” rating for the company in a research report on Thursday, October 31st. UBS Group dropped their target price on CDW from $233.00 to $220.00 and set a “buy” rating for the company in a research report on Tuesday, January 7th. Citigroup cut CDW from a “buy” rating to a “neutral” rating and decreased their price target for the company from $250.00 to $245.00 in a report on Tuesday, October 1st. Redburn Atlantic started coverage on CDW in a research report on Friday, November 15th. They issued a “buy” rating and a $230.00 price objective for the company. Finally, JPMorgan Chase & Co. downgraded shares of CDW from an “overweight” rating to a “neutral” rating and cut their target price for the company from $260.00 to $235.00 in a research report on Monday, October 28th. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, CDW currently has an average rating of “Moderate Buy” and an average target price of $239.33.

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.