Avantax Advisory Services Inc. Purchases 220 Shares of CDW Co. (NASDAQ:CDW)

Avantax Advisory Services Inc. grew its position in shares of CDW Co. (NASDAQ:CDW – Get Rating) by 5.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,993 shares of the information technology services provider’s stock after buying an additional 220 shares during the quarter. Avantax Advisory Services Inc.’s holdings in CDW were worth $623,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Total Clarity Wealth Management Inc. bought a new position in shares of CDW during the 2nd quarter valued at $26,000. Allworth Financial LP raised its holdings in CDW by 4,250.0% in the 2nd quarter. Allworth Financial LP now owns 174 shares of the information technology services provider’s stock worth $27,000 after purchasing an additional 170 shares during the period. SeaCrest Wealth Management LLC bought a new position in CDW in the 2nd quarter worth $40,000. Clear Street Markets LLC raised its holdings in CDW by 405.4% in the 2nd quarter. Clear Street Markets LLC now owns 283 shares of the information technology services provider’s stock worth $45,000 after purchasing an additional 227 shares during the period. Finally, CX Institutional bought a new position in CDW in the 2nd quarter worth $45,000. 92.78% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

CDW has been the topic of a number of recent research reports. JPMorgan Chase & Co. raised their target price on CDW from $215.00 to $225.00 and gave the stock an “overweight” rating in a report on Tuesday, December 20th. Credit Suisse Group raised their target price on CDW from $202.00 to $220.00 and gave the stock an “outperform” rating in a report on Wednesday, January 18th. StockNews.com cut CDW from a “buy” rating to a “hold” rating in a report on Friday. Raymond James decreased their target price on CDW from $220.00 to $200.00 and set an “outperform” rating on the stock in a report on Thursday, November 3rd. Finally, Morgan Stanley raised their price target on CDW from $210.00 to $217.00 and gave the company an “overweight” rating in a report on Wednesday, January 18th. One analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $213.14.

CDW Price Performance

NASDAQ:CDW opened at $198.76 on Monday. The stock has a market cap of $26.91 billion, a PE ratio of 26.12, a P/E/G ratio of 1.52 and a beta of 1.14. The business’s 50-day simple moving average is $185.79 and its two-hundred day simple moving average is $175.67. The company has a quick ratio of 1.12, a current ratio of 1.29 and a debt-to-equity ratio of 4.60. CDW Co. has a 52 week low of $147.91 and a 52 week high of $201.00.

CDW (NASDAQ:CDW – Get Rating) last issued its quarterly earnings data on Wednesday, November 2nd. The information technology services provider reported $2.47 earnings per share for the quarter, beating analysts’ consensus estimates of $2.42 by $0.05. The firm had revenue of $6.22 billion during the quarter, compared to analyst estimates of $6.21 billion. CDW had a return on equity of 121.34% and a net margin of 4.37%. As a group, analysts forecast that CDW Co. will post 9.27 EPS for the current fiscal year.

CDW Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 9th. Stockholders of record on Friday, November 25th were given a dividend of $0.59 per share. This is a positive change from CDW’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend was Wednesday, November 23rd. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.19%. CDW’s dividend payout ratio (DPR) is presently 31.01%.

CDW Company Profile

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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, hybrid, and cloud capabilities across data center and networking, digital workspace, and security.