Arkadios Wealth Advisors Reduces Stock Position in CDW Co. (NASDAQ:CDW)
Arkadios Wealth Advisors cut its stake in shares of CDW Co. (NASDAQ:CDW) by 37.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 610 shares of the information technology services provider’s stock after selling 372 shares during the period. Arkadios Wealth Advisors’ holdings in CDW were worth $80,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Fort Washington Investment Advisors Inc. OH lifted its holdings in CDW by 73.5% in the third quarter. Fort Washington Investment Advisors Inc. OH now owns 10,828 shares of the information technology services provider’s stock valued at $1,294,000 after acquiring an additional 4,588 shares during the period. Merit Financial Group LLC increased its position in shares of CDW by 2.8% during the 3rd quarter. Merit Financial Group LLC now owns 4,242 shares of the information technology services provider’s stock valued at $507,000 after purchasing an additional 116 shares during the last quarter. Westpac Banking Corp lifted its stake in shares of CDW by 22.0% in the 3rd quarter. Westpac Banking Corp now owns 48,232 shares of the information technology services provider’s stock worth $5,765,000 after purchasing an additional 8,703 shares during the period. TD Asset Management Inc. boosted its holdings in shares of CDW by 22.0% in the third quarter. TD Asset Management Inc. now owns 211,723 shares of the information technology services provider’s stock worth $25,307,000 after buying an additional 38,226 shares during the last quarter. Finally, Canton Hathaway LLC purchased a new position in shares of CDW in the third quarter worth approximately $99,000. Institutional investors and hedge funds own 80.97% of the company’s stock.
Several research firms have weighed in on CDW. Smith Barney Citigroup increased their price target on shares of CDW from $140.00 to $145.00 in a research report on Tuesday, November 3rd. BidaskClub upgraded CDW from a “hold” rating to a “buy” rating in a research report on Thursday, November 5th. Zacks Investment Research lowered CDW from a “buy” rating to a “hold” rating and set a $132.00 price target for the company. in a report on Tuesday, October 6th. Morgan Stanley raised their price objective on CDW from $136.00 to $144.00 and gave the stock an “equal weight” rating in a research note on Tuesday, November 3rd. Finally, Credit Suisse Group boosted their price objective on CDW from $127.00 to $135.00 and gave the company an “outperform” rating in a research note on Tuesday, November 3rd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $134.60.
CDW (NASDAQ:CDW) last released its earnings results on Monday, November 2nd. The information technology services provider reported $1.83 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 analyst estimates of $4.57 billion. During the same quarter last year, the business earned $1.70 EPS. The business’s revenue was down 3.1% on a year-over-year basis. As a group, research analysts predict that CDW Co. will post 6.08 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 10th. Investors of record on Wednesday, November 25th will be paid a $0.40 dividend. The ex-dividend date is Tuesday, November 24th. This is a positive change from CDW’s previous quarterly dividend of $0.38. This represents a $1.60 dividend on an annualized basis and a yield of 1.21%. CDW’s dividend payout ratio is 25.25%.
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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