Raymond James Trust N.A. Purchases 85 Shares of CDW Co. (NASDAQ:CDW)

Raymond James Trust N.A. lifted its position in CDW Co. (NASDAQ:CDW) by 4.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 2,197 shares of the information technology services provider’s stock after buying an additional 85 shares during the period. Raymond James Trust N.A.’s holdings in CDW were worth $497,000 as of its most recent SEC filing.

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

CDW Price Performance

Shares of NASDAQ:CDW opened at $177.80 on Wednesday. The firm’s 50 day simple moving average is $208.69 and its two-hundred day simple moving average is $218.12. 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 company has a market capitalization of $23.69 billion, a P/E ratio of 22.17, a P/E/G ratio of 5.03 and a beta of 1.05. CDW Co. has a 1-year low of $172.95 and a 1-year high of $263.37.

CDW (NASDAQ:CDW) last issued 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 the consensus estimate of $5.72 billion. CDW had a return on equity of 58.31% and a net margin of 5.33%. The company’s quarterly revenue was down 2.0% on a year-over-year basis. During the same period in the prior year, the company posted $2.60 EPS. Research analysts expect that CDW Co. will post 8.99 EPS for the current fiscal year.

CDW Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Monday, November 25th will be paid a dividend of $0.625 per share. This represents a $2.50 annualized dividend and a yield of 1.41%. The ex-dividend date of this dividend is Monday, November 25th. This is an increase from CDW’s previous quarterly dividend of $0.62. CDW’s dividend payout ratio (DPR) is 30.56%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. Barclays lowered their target price on CDW from $229.00 to $201.00 and set an “equal weight” rating on the stock in a report on Thursday, October 31st. JPMorgan Chase & Co. downgraded shares of CDW from an “overweight” rating to a “neutral” rating and dropped their price objective for the stock from $260.00 to $235.00 in a report on Monday, October 28th. Citigroup cut shares of CDW from a “buy” rating to a “neutral” rating and reduced their target price for the company from $250.00 to $245.00 in a report on Tuesday, October 1st. Finally, Redburn Atlantic initiated coverage on shares of CDW in a research note on Friday, November 15th. They set a “buy” rating and a $230.00 price target on the stock. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $244.63.

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.