Romano Brothers AND Company Purchases 4,280 Shares of CDW Co. (NASDAQ:CDW)

Romano Brothers AND Company increased its position in CDW Co. (NASDAQ:CDW) by 192.6% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 6,502 shares of the information technology services provider’s stock after acquiring an additional 4,280 shares during the quarter. Romano Brothers AND Company’s holdings in CDW were worth $1,132,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Canoe Financial LP acquired a new position in CDW during the 3rd quarter worth about $37,000. Fortitude Family Office LLC lifted 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 period. Ashton Thomas Securities LLC acquired a new stake in CDW during the 3rd quarter valued at approximately $43,000. Covestor Ltd increased its position in CDW by 80.1% during the 3rd quarter. Covestor Ltd now owns 245 shares of the information technology services provider’s stock valued at $55,000 after purchasing an additional 109 shares during the period. Finally, Kimelman & Baird LLC bought a new position in CDW during the 2nd quarter worth approximately $56,000. Institutional investors and hedge funds own 93.15% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on CDW shares. UBS Group reduced their price objective on shares of CDW from $233.00 to $220.00 and set a “buy” rating on the stock in a research note on Tuesday, January 7th. Morgan Stanley lifted their price objective on CDW from $190.00 to $193.00 and gave the stock an “equal weight” rating in a research report on Monday, December 16th. Citigroup lowered CDW from a “buy” rating to a “neutral” rating and cut their target price for the company from $250.00 to $245.00 in a research report on Tuesday, October 1st. Barclays lowered their target price on CDW from $229.00 to $201.00 and set an “equal weight” rating for the company in a report on Thursday, October 31st. Finally, JPMorgan Chase & Co. cut CDW from an “overweight” rating to a “neutral” rating and cut their price target for the stock from $260.00 to $235.00 in a report on Monday, October 28th. 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, the stock has an average rating of “Moderate Buy” and an average target price of $239.33.

CDW Price Performance

Shares of NASDAQ:CDW opened at $188.70 on Friday. The stock’s 50 day moving average is $179.13 and its 200-day moving average is $205.27. CDW Co. has a twelve month low of $168.43 and a twelve month high of $263.37. The company has a quick ratio of 1.28, a current ratio of 1.40 and a debt-to-equity ratio of 2.39. The firm has a market capitalization of $25.15 billion, a price-to-earnings ratio of 23.07, a PEG ratio of 4.91 and a beta of 1.01.

CDW (NASDAQ:CDW) last issued its quarterly earnings data on Wednesday, October 30th. The information technology services provider reported $2.63 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.68 by ($0.05). CDW had a net margin of 5.33% and a return on equity of 58.31%. The business had revenue of $5.52 billion for the quarter, compared to analyst estimates of $5.72 billion. During the same quarter in the prior year, the business earned $2.60 earnings per share. The firm’s quarterly revenue was down 2.0% compared to the same quarter last year. Sell-side analysts forecast that CDW Co. will post 8.99 EPS for the current fiscal year.

CDW Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Monday, November 25th were paid a $0.625 dividend. The ex-dividend date was Monday, November 25th. This is an increase from CDW’s previous quarterly dividend of $0.62. This represents a $2.50 annualized dividend and a dividend yield of 1.32%. CDW’s dividend payout ratio is 30.56%.

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.