Norden Group LLC Buys 39,612 Shares of CDW Co. (NASDAQ:CDW)

Norden Group LLC raised its stake in CDW Co. (NASDAQ:CDW) by 1,675.6% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 41,976 shares of the information technology services provider’s stock after acquiring an additional 39,612 shares during the period. Norden Group LLC’s holdings in CDW were worth $10,736,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of CDW. Tsfg LLC purchased a new position in shares of CDW in the first quarter valued at $26,000. VisionPoint Advisory Group LLC bought a new position in CDW during the third quarter valued at $28,000. Larson Financial Group LLC bought a new position in CDW during the fourth quarter valued at $30,000. Rise Advisors LLC purchased a new position in shares of CDW in the 1st quarter worth $34,000. Finally, Orion Capital Management LLC bought a new stake in shares of CDW in the 3rd quarter worth about $35,000. Hedge funds and other institutional investors own 93.15% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. Citigroup lowered their price target on shares of CDW from $295.00 to $260.00 and set a “buy” rating for the company in a report on Thursday, May 2nd. Northcoast Research upgraded CDW from a “neutral” rating to a “buy” rating and set a $270.00 target price for the company in a report on Friday, June 7th. Stifel Nicolaus cut their target price on CDW from $265.00 to $250.00 and set a “buy” rating on the stock in a research report on Thursday, May 2nd. Evercore ISI raised their price target on CDW from $250.00 to $300.00 and gave the stock an “outperform” rating in a research report on Friday, March 22nd. Finally, Barclays cut their price objective on shares of CDW from $261.00 to $232.00 and set an “equal weight” rating on the stock in a research report on Thursday, May 2nd. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $250.00.

CDW Trading Down 0.5 %

Shares of CDW opened at $218.11 on Thursday. The firm has a market capitalization of $29.31 billion, a price-to-earnings ratio of 27.23, a PEG ratio of 3.23 and a beta of 1.04. 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 50-day moving average of $226.12 and a 200 day moving average of $233.73.

CDW (NASDAQ:CDW) last issued its earnings results on Wednesday, May 1st. The information technology services provider reported $1.89 EPS for the quarter, missing analysts’ consensus estimates of $2.04 by ($0.15). The company had revenue of $4.87 billion for 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, research analysts expect that CDW Co. will post 9.67 EPS for the current year.

CDW Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 11th. Shareholders of record on Friday, May 24th were given a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a yield of 1.14%. The ex-dividend date was Thursday, May 23rd. CDW’s dividend payout ratio (DPR) is presently 30.96%.

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.