Fortem Financial Group LLC Has $863,000 Stock Holdings in CDW Co. (NASDAQ:CDW)

Fortem Financial Group LLC grew its holdings in CDW Co. (NASDAQ:CDW) by 5.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,960 shares of the information technology services provider’s stock after acquiring an additional 270 shares during the quarter. Fortem Financial Group LLC’s holdings in CDW were worth $863,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Commonwealth Equity Services LLC increased its holdings in CDW by 4.9% during the second quarter. Commonwealth Equity Services LLC now owns 8,118 shares of the information technology services provider’s stock worth $1,817,000 after buying an additional 377 shares during the last quarter. Victory Capital Management Inc. lifted its stake in shares of CDW by 17.3% during the 2nd quarter. Victory Capital Management Inc. now owns 178,309 shares of the information technology services provider’s stock worth $39,913,000 after buying an additional 26,237 shares during the last quarter. Candriam S.C.A. grew its stake in CDW by 5.6% in the 2nd quarter. Candriam S.C.A. now owns 8,463 shares of the information technology services provider’s stock valued at $1,894,000 after buying an additional 448 shares during the last quarter. Norden Group LLC lifted its position in CDW by 33.7% during the second quarter. Norden Group LLC now owns 4,654 shares of the information technology services provider’s stock worth $1,042,000 after acquiring an additional 1,172 shares during the last quarter. Finally, Strategic Financial Concepts LLC bought a new stake in shares of CDW during the second quarter worth approximately $66,000. Institutional investors and hedge funds own 93.15% of the company’s stock.

CDW Price Performance

Shares of CDW stock traded up $4.28 during trading hours on Monday, reaching $178.51. The company’s stock had a trading volume of 936,803 shares, compared to its average volume of 941,315. The company has a quick ratio of 1.28, a current ratio of 1.40 and a debt-to-equity ratio of 2.39. CDW Co. has a fifty-two week low of $168.43 and a fifty-two week high of $263.37. The company has a market capitalization of $23.79 billion, a price-to-earnings ratio of 21.82, a PEG ratio of 5.01 and a beta of 1.01. The firm’s 50 day simple moving average is $182.37 and its 200-day simple moving average is $208.09.

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

CDW Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Monday, November 25th were paid a dividend of $0.625 per share. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.40%. The ex-dividend date of this dividend was Monday, November 25th. This is a boost from CDW’s previous quarterly dividend of $0.62. CDW’s payout ratio is presently 30.56%.

Analyst Ratings Changes

Several research firms recently issued reports on CDW. Citigroup downgraded CDW from a “buy” rating to a “neutral” rating and reduced their price target for the company from $250.00 to $245.00 in a research note on Tuesday, October 1st. JPMorgan Chase & Co. downgraded shares of CDW from an “overweight” rating to a “neutral” rating and decreased their price target for the company from $260.00 to $235.00 in a research note on Monday, October 28th. Morgan Stanley lifted their price objective on shares of CDW from $190.00 to $193.00 and gave the stock an “equal weight” rating in a research note on Monday, December 16th. Redburn Atlantic assumed coverage on shares of CDW in a report on Friday, November 15th. They set a “buy” rating and a $230.00 target price on the stock. Finally, Barclays cut their price target on CDW from $229.00 to $201.00 and set an “equal weight” rating for the company in a research note on Thursday, October 31st. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, CDW presently has an average rating of “Moderate Buy” and an average price target of $241.75.

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.