Congress Wealth Management LLC DE Acquires 649 Shares of CDW Co. (NASDAQ:CDW)

Congress Wealth Management LLC DE boosted its holdings in shares of CDW Co. (NASDAQ:CDW) by 5.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,001 shares of the information technology services provider’s stock after acquiring an additional 649 shares during the period. Congress Wealth Management LLC DE’s holdings in CDW were worth $3,326,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of CDW. Tsfg LLC bought a new stake in shares of CDW in the 1st quarter worth approximately $26,000. Rise Advisors LLC bought a new stake in CDW in the first quarter worth $34,000. Larson Financial Group LLC purchased a new stake in shares of CDW in the fourth quarter worth $30,000. VisionPoint Advisory Group LLC bought a new position in shares of CDW during the third quarter valued at $28,000. Finally, ORG Partners LLC purchased a new position in shares of CDW in the 4th quarter worth about $36,000. Institutional investors own 93.15% of the company’s stock.

CDW Stock Performance

CDW stock opened at $219.19 on Tuesday. The company has a debt-to-equity ratio of 2.35, a current ratio of 1.26 and a quick ratio of 1.13. CDW Co. has a 1 year low of $180.38 and a 1 year high of $263.37. The company has a market cap of $29.46 billion, a P/E ratio of 27.36, a price-to-earnings-growth ratio of 3.30 and a beta of 1.04. The stock’s fifty day moving average price is $227.00 and its 200-day moving average price is $233.86.

CDW (NASDAQ:CDW) last announced its earnings results on Wednesday, May 1st. The information technology services provider reported $1.89 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.04 by ($0.15). The firm had revenue of $4.87 billion during the quarter, compared to analysts’ expectations of $4.94 billion. CDW had a return on equity of 67.56% and a net margin of 5.16%. On average, equities analysts forecast that CDW Co. will post 9.67 earnings per share for the current year.

CDW Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 11th. Investors of record on Friday, May 24th were given a dividend of $0.62 per share. The ex-dividend date of this dividend was Thursday, May 23rd. This represents a $2.48 annualized dividend and a yield of 1.13%. CDW’s dividend payout ratio (DPR) is 30.96%.

Analyst Ratings Changes

Several analysts recently commented on the stock. Evercore ISI increased their price objective on shares of CDW from $250.00 to $300.00 and gave the company an “outperform” rating in a research report on Friday, March 22nd. Stifel Nicolaus reduced their price target on shares of CDW from $265.00 to $250.00 and set a “buy” rating for the company in a research report on Thursday, May 2nd. Citigroup lowered their price objective on CDW from $295.00 to $260.00 and set a “buy” rating on the stock in a research report on Thursday, May 2nd. JPMorgan Chase & Co. reduced their target price on CDW from $280.00 to $265.00 and set an “overweight” rating for the company in a report on Thursday, May 2nd. Finally, Northcoast Research raised CDW from a “neutral” rating to a “buy” rating and set a $270.00 price target on the stock in a report on Friday, June 7th. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $250.00.

CDW Company Profile

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.