Nicolet Advisory Services LLC Has $726,000 Position in CDW Co. (NASDAQ:CDW)

Nicolet Advisory Services LLC lifted its holdings in CDW Co. (NASDAQ:CDW) by 4.8% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 3,328 shares of the information technology services provider’s stock after buying an additional 153 shares during the period. Nicolet Advisory Services LLC’s holdings in CDW were worth $726,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in CDW. Peak Financial Advisors LLC bought a new stake in CDW in the second quarter valued at $2,854,000. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund bought a new stake in CDW in the 3rd quarter valued at about $12,761,000. Virtu Financial LLC raised its stake in CDW by 175.9% during the 1st quarter. Virtu Financial LLC now owns 7,115 shares of the information technology services provider’s stock worth $1,820,000 after buying an additional 4,536 shares during the period. Raymond James & Associates boosted its holdings in CDW by 16.6% in the second quarter. Raymond James & Associates now owns 139,711 shares of the information technology services provider’s stock worth $31,273,000 after acquiring an additional 19,867 shares in the last quarter. Finally, Thrivent Financial for Lutherans grew its stake in CDW by 12.8% in the third quarter. Thrivent Financial for Lutherans now owns 599,900 shares of the information technology services provider’s stock valued at $135,758,000 after acquiring an additional 68,023 shares during the period. Institutional investors own 93.15% of the company’s stock.

CDW Stock Performance

CDW stock opened at $178.96 on Friday. CDW Co. has a fifty-two week low of $172.95 and a fifty-two week high of $263.37. The firm’s fifty day moving average price is $209.49 and its 200-day moving average price is $218.45. The stock has a market cap of $23.85 billion, a P/E ratio of 21.88, a price-to-earnings-growth ratio of 4.97 and a beta of 1.05. The company has a debt-to-equity ratio of 2.39, a quick ratio of 1.28 and a current ratio of 1.40.

CDW (NASDAQ:CDW) last issued its quarterly earnings results on Wednesday, October 30th. The information technology services provider reported $2.63 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.68 by ($0.05). The firm had revenue of $5.52 billion for the quarter, compared to the consensus estimate of $5.72 billion. CDW had a return on equity of 58.31% and a net margin of 5.33%. The company’s revenue for the quarter was down 2.0% on a year-over-year basis. During the same period last year, the firm earned $2.60 EPS. On average, equities research analysts expect that CDW Co. will post 9.05 earnings per share for the current fiscal year.

CDW Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Monday, November 25th will be paid a dividend of $0.625 per share. The ex-dividend date of this dividend is Monday, November 25th. This is an increase from CDW’s previous quarterly dividend of $0.62. This represents a $2.50 annualized dividend and a dividend yield of 1.40%. CDW’s dividend payout ratio (DPR) is 30.32%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on CDW. Redburn Atlantic initiated coverage on shares of CDW in a research note on Friday, November 15th. They set a “buy” rating and a $230.00 price target for the company. JPMorgan Chase & Co. downgraded shares of CDW from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $260.00 to $235.00 in a research report on Monday, October 28th. Citigroup cut shares of CDW from a “buy” rating to a “neutral” rating and dropped their price target for the company from $250.00 to $245.00 in a research report on Tuesday, October 1st. 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 equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, CDW has an average rating of “Moderate Buy” and a consensus target price of $244.63.

CDW 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.