Lido Advisors LLC Purchases 38,334 Shares of CDW Corporation $CDW

Lido Advisors LLC grew its position in shares of CDW Corporation (NASDAQ:CDW) by 757.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 43,395 shares of the information technology services provider’s stock after purchasing an additional 38,334 shares during the period. Lido Advisors LLC’s holdings in CDW were worth $5,562,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Union Savings Bank raised its position in shares of CDW by 500.0% in the third quarter. Union Savings Bank now owns 192 shares of the information technology services provider’s stock valued at $25,000 after buying an additional 160 shares during the last quarter. Manchester Capital Management LLC boosted its position in CDW by 10,200.0% during the third quarter. Manchester Capital Management LLC now owns 206 shares of the information technology services provider’s stock worth $26,000 after acquiring an additional 204 shares during the last quarter. Hollencrest Capital Management boosted its position in CDW by 909.1% during the first quarter. Hollencrest Capital Management now owns 222 shares of the information technology services provider’s stock worth $27,000 after acquiring an additional 200 shares during the last quarter. Allied Private Wealth LLC acquired a new stake in CDW during the second quarter worth approximately $28,000. Finally, Keating Financial Advisory Services Inc. purchased a new stake in CDW in the 2nd quarter worth approximately $28,000. 93.15% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CDW has been the subject of several recent analyst reports. Weiss Ratings raised shares of CDW from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, August 25th. Morgan Stanley increased their price target on CDW from $170.00 to $171.00 and gave the stock an “overweight” rating in a research note on Thursday, August 6th. Barclays decreased their price objective on CDW from $150.00 to $148.00 and set an “equal weight” rating on the stock in a report on Monday, September 21st. UBS Group raised their price objective on CDW from $159.00 to $195.00 and gave the stock a “buy” rating in a report on Thursday, November 5th. Finally, Citigroup lifted their price objective on CDW from $150.00 to $170.00 and gave the company a “neutral” rating in a research report on Thursday, November 5th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, CDW has an average rating of “Moderate Buy” and an average price target of $167.38.

CDW Trading Down 0.2%

Shares of CDW stock opened at $172.79 on Friday. The firm has a market cap of $21.57 billion, a P/E ratio of 20.16, a PEG ratio of 1.53 and a beta of 0.92. CDW Corporation has a 1-year low of $97.12 and a 1-year high of $175.19. The company has a debt-to-equity ratio of 2.32, a current ratio of 1.26 and a quick ratio of 1.15. The firm’s 50-day simple moving average is $150.36 and its 200-day simple moving average is $134.61.

CDW (NASDAQ:CDW) last released its earnings results on Wednesday, November 4th. The information technology services provider reported $3.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.98 by $0.28. CDW had a net margin of 4.48% and a return on equity of 52.23%. The business had revenue of $6.75 billion for the quarter, compared to analysts’ expectations of $6.19 billion. During the same period last year, the company earned $2.71 earnings per share. The company’s quarterly revenue was up 17.7% on a year-over-year basis. As a group, equities analysts forecast that CDW Corporation will post 10.33 EPS for the current year.

CDW Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 10th. Shareholders of record on Wednesday, November 25th will be paid a dividend of $0.68 per share. This is an increase from CDW’s previous quarterly dividend of $0.63. This represents a $2.72 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date of this dividend is Wednesday, November 25th. CDW’s payout ratio is 29.40%.

CDW Profile

CDW Corporation is a provider of information technology products and services to businesses, government agencies, educational institutions and healthcare organizations. The company helps customers select, purchase, implement and manage technology solutions. Its offerings include computers and other hardware, software, cloud services, cybersecurity, networking, data center infrastructure and collaboration tools. CDW also provides consulting, integration and ongoing technology support, helping customers plan and operate their IT environments.