CDW Co. (NASDAQ:CDW) Position Boosted by RMB Capital Management LLC

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RMB Capital Management LLC increased its holdings in CDW Co. (NASDAQ:CDW) by 57.5% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 127,541 shares of the information technology services provider’s stock after buying an additional 46,587 shares during the quarter. RMB Capital Management LLC owned about 0.09% of CDW worth $15,245,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of CDW. RMR Wealth Builders bought a new position in CDW in the 2nd quarter worth approximately $28,000. Meeder Asset Management Inc. grew its position in shares of CDW by 76.6% in the third quarter. Meeder Asset Management Inc. now owns 242 shares of the information technology services provider’s stock valued at $29,000 after purchasing an additional 105 shares during the last quarter. Rockefeller Capital Management L.P. grew its position in shares of CDW by 70.9% in the second quarter. Rockefeller Capital Management L.P. now owns 299 shares of the information technology services provider’s stock valued at $35,000 after purchasing an additional 124 shares during the last quarter. Cullen Frost Bankers Inc. acquired a new stake in shares of CDW in the second quarter valued at about $46,000. Finally, Braun Bostich & Associates Inc. acquired a new stake in CDW during the third quarter worth about $46,000. 80.97% of the stock is owned by institutional investors and hedge funds.

CDW stock traded down $0.83 during trading on Friday, hitting $131.95. The company had a trading volume of 783,704 shares, compared to its average volume of 1,044,513. The company has a quick ratio of 1.33, a current ratio of 1.50 and a debt-to-equity ratio of 3.12. The firm has a 50-day moving average price of $130.07 and a 200-day moving average price of $117.43. CDW Co. has a 12 month low of $73.39 and a 12 month high of $146.95. The stock has a market cap of $18.87 billion, a price-to-earnings ratio of 26.03, a PEG ratio of 1.75 and a beta of 1.17.

CDW (NASDAQ:CDW) last posted its quarterly earnings data on Monday, November 2nd. The information technology services provider reported $1.83 earnings per share for the quarter, topping the consensus estimate of $1.51 by $0.32. CDW had a net margin of 4.08% and a return on equity of 88.43%. The firm had revenue of $4.76 billion during the quarter, compared to analysts’ expectations of $4.57 billion. During the same quarter in the previous year, the company posted $1.70 EPS. CDW’s revenue was down 3.1% on a year-over-year basis. Equities analysts expect that CDW Co. will post 6.08 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 10th. Shareholders of record on Wednesday, November 25th will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 1.21%. The ex-dividend date of this dividend is Tuesday, November 24th. This is a positive change from CDW’s previous quarterly dividend of $0.38. CDW’s payout ratio is currently 25.25%.

A number of research analysts have commented on CDW shares. Morgan Stanley raised their price target on shares of CDW from $136.00 to $144.00 and gave the stock an “equal weight” rating in a research note on Tuesday, November 3rd. Zacks Investment Research cut shares of CDW from a “buy” rating to a “hold” rating and set a $132.00 price target for the company. in a research note on Tuesday, October 6th. Citigroup started coverage on shares of CDW in a research note on Wednesday, August 12th. They set a “buy” rating and a $140.00 price target for the company. Credit Suisse Group raised their price target on shares of CDW from $127.00 to $135.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 3rd. Finally, Smith Barney Citigroup lifted their target price on shares of CDW from $140.00 to $145.00 in a research note on Tuesday, November 3rd. One research analyst has rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the company. CDW presently has an average rating of “Hold” and an average price target of $134.60.

CDW Profile

CDW Corporation provides integrated information technology (IT) solutions to business, government, education, and healthcare customers 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, as well as integrated IT solutions, including mobility, security, data center optimization, cloud computing, virtualization, and collaboration.

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Institutional Ownership by Quarter for CDW (NASDAQ:CDW)

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