Evercore Wealth Management LLC Raises Stock Holdings in CDW Co. (NASDAQ:CDW)

Evercore Wealth Management LLC raised its stake in CDW Co. (NASDAQ:CDWGet Rating) by 3.3% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 529,316 shares of the information technology services provider’s stock after purchasing an additional 16,891 shares during the quarter. CDW accounts for 1.7% of Evercore Wealth Management LLC’s portfolio, making the stock its 19th biggest position. Evercore Wealth Management LLC’s holdings in CDW were worth $94,689,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CDW. Denali Advisors LLC purchased a new stake in CDW in the first quarter worth $54,000. Quent Capital LLC purchased a new stake in CDW in the first quarter worth $56,000. Brown Brothers Harriman & Co. grew its stake in CDW by 129.5% in the first quarter. Brown Brothers Harriman & Co. now owns 459 shares of the information technology services provider’s stock worth $82,000 after purchasing an additional 259 shares during the period. Acadian Asset Management LLC purchased a new stake in CDW in the first quarter worth $103,000. Finally, Tobam purchased a new stake in CDW in the first quarter worth $113,000. Institutional investors own 92.45% of the company’s stock.

CDW Price Performance

Shares of CDW stock opened at $177.78 on Tuesday. CDW Co. has a 52-week low of $152.15 and a 52-week high of $208.71. The company has a debt-to-equity ratio of 5.86, a quick ratio of 1.11 and a current ratio of 1.30. The firm has a market capitalization of $24.02 billion, a P/E ratio of 24.19, a P/E/G ratio of 1.45 and a beta of 1.13. The stock has a 50 day moving average price of $173.57 and a 200 day moving average price of $170.88.

CDW (NASDAQ:CDWGet Rating) last issued its earnings results on Wednesday, August 3rd. The information technology services provider reported $2.36 earnings per share for the quarter, beating analysts’ consensus estimates of $2.31 by $0.05. The business had revenue of $6.15 billion during the quarter, compared to analyst estimates of $6.15 billion. CDW had a return on equity of 132.68% and a net margin of 4.41%. CDW’s revenue was up 19.4% on a year-over-year basis. During the same period in the previous year, the company posted $1.92 EPS. As a group, sell-side analysts predict that CDW Co. will post 9.22 earnings per share for the current year.

CDW Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 9th. Shareholders of record on Thursday, August 25th were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 1.12%. The ex-dividend date of this dividend was Wednesday, August 24th. CDW’s dividend payout ratio (DPR) is presently 27.21%.

Wall Street Analysts Forecast Growth

CDW has been the topic of several recent research reports. Evercore ISI reduced their price target on CDW from $250.00 to $210.00 and set an “outperform” rating on the stock in a research note on Tuesday, June 28th. Credit Suisse Group began coverage on CDW in a research note on Tuesday, August 16th. They issued an “outperform” rating and a $202.00 target price on the stock. StockNews.com cut CDW from a “buy” rating to a “hold” rating in a research note on Tuesday, August 30th. Finally, JPMorgan Chase & Co. raised CDW from a “neutral” rating to an “overweight” rating and set a $200.00 price objective on the stock in a research report on Thursday, July 14th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $213.00.

CDW Company Profile

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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, hybrid, and cloud capabilities across data center and networking, digital workspace, and security.

See Also

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Institutional Ownership by Quarter for CDW (NASDAQ:CDW)

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