Apollon Wealth Management LLC Has $665,000 Stake in CDW Co. (NASDAQ:CDW)

Apollon Wealth Management LLC increased its stake in CDW Co. (NASDAQ:CDW) by 36.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,938 shares of the information technology services provider’s stock after purchasing an additional 779 shares during the period. Apollon Wealth Management LLC’s holdings in CDW were worth $665,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in the company. ORG Partners LLC bought a new position in shares of CDW during the second quarter worth about $34,000. Quest Partners LLC bought a new position in shares of CDW during the 2nd quarter worth approximately $35,000. Canoe Financial LP acquired a new stake in shares of CDW in the third quarter valued at approximately $37,000. Fortitude Family Office LLC lifted its position in shares of CDW by 350.0% in the third quarter. Fortitude Family Office LLC now owns 171 shares of the information technology services provider’s stock worth $39,000 after purchasing an additional 133 shares in the last quarter. Finally, Summit Securities Group LLC acquired a new position in CDW during the second quarter worth $40,000. Institutional investors own 93.15% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have commented on CDW shares. Barclays cut their price target on shares of CDW from $229.00 to $201.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 31st. Redburn Atlantic began coverage on CDW in a research report on Friday. They set a “buy” rating and a $230.00 price target for the company. JPMorgan Chase & Co. lowered CDW from an “overweight” rating to a “neutral” rating and lowered their price target for the stock from $260.00 to $235.00 in a research report on Monday, October 28th. Finally, Citigroup downgraded CDW from a “buy” rating to a “neutral” rating and cut their price objective for the company from $250.00 to $245.00 in a report on Tuesday, October 1st. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, CDW presently has an average rating of “Moderate Buy” and a consensus price target of $244.63.

CDW Stock Down 1.7 %

CDW stock opened at $177.63 on Friday. CDW Co. has a 1-year low of $175.94 and a 1-year high of $263.37. The business’s 50 day simple moving average is $213.49 and its 200 day simple moving average is $219.90. The company has a current ratio of 1.40, a quick ratio of 1.28 and a debt-to-equity ratio of 2.39. The firm has a market capitalization of $23.67 billion, a PE ratio of 21.72, a PEG ratio of 5.19 and a beta of 1.05.

CDW (NASDAQ:CDW) last released its quarterly earnings data 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). The company had revenue of $5.52 billion during the quarter, compared to analyst estimates of $5.72 billion. CDW had a net margin of 5.33% and a return on equity of 58.31%. CDW’s revenue for the quarter was down 2.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.60 earnings per share. As a group, research analysts anticipate that CDW Co. will post 9.05 EPS for the current year.

CDW Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Monday, November 25th will be given a $0.625 dividend. This is an increase from CDW’s previous quarterly dividend of $0.62. The ex-dividend date of this dividend is Monday, November 25th. This represents a $2.50 annualized dividend and a dividend yield of 1.41%. CDW’s dividend payout ratio is presently 30.56%.

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.