Meridian Wealth Management LLC Has $306,000 Stock Holdings in CDW Co. (NASDAQ:CDW)

Meridian Wealth Management LLC trimmed its position in CDW Co. (NASDAQ:CDW) by 38.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,353 shares of the information technology services provider’s stock after selling 851 shares during the quarter. Meridian Wealth Management LLC’s holdings in CDW were worth $306,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CDW. Massachusetts Financial Services Co. MA bought a new position in shares of CDW in the 3rd quarter worth $416,111,000. Perpetual Ltd bought a new position in CDW during the third quarter worth about $158,300,000. Ceredex Value Advisors LLC bought a new position in CDW during the second quarter worth about $79,549,000. Canada Pension Plan Investment Board grew its position in shares of CDW by 2,045.4% during the 2nd quarter. Canada Pension Plan Investment Board now owns 294,302 shares of the information technology services provider’s stock worth $65,877,000 after buying an additional 280,584 shares during the period. Finally, Price T Rowe Associates Inc. MD increased its stake in shares of CDW by 46.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 620,190 shares of the information technology services provider’s stock valued at $158,634,000 after acquiring an additional 195,951 shares during the last quarter. 93.15% of the stock is owned by institutional investors.

Analysts Set New Price Targets

CDW has been the topic of several recent analyst reports. Redburn Atlantic started coverage on shares of CDW in a research note on Friday, November 15th. They set a “buy” rating and a $230.00 price objective on the stock. Barclays reduced 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. Citigroup cut shares of CDW from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $250.00 to $245.00 in a research report on Tuesday, October 1st. Finally, JPMorgan Chase & Co. lowered CDW from an “overweight” rating to a “neutral” rating and reduced their target price for the stock from $260.00 to $235.00 in a report on Monday, October 28th. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $244.63.

CDW Trading Up 1.7 %

CDW opened at $181.34 on Tuesday. The stock has a market capitalization of $24.17 billion, a P/E ratio of 22.17, a P/E/G ratio of 5.03 and a beta of 1.05. The company has a current ratio of 1.40, a quick ratio of 1.28 and a debt-to-equity ratio of 2.39. CDW Co. has a 12 month low of $172.95 and a 12 month high of $263.37. The firm’s fifty day simple moving average is $209.49 and its 200 day simple moving average is $218.42.

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

CDW Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Monday, November 25th will be given a dividend of $0.625 per share. The ex-dividend date of this dividend is Monday, November 25th. This represents a $2.50 dividend on an annualized basis and a yield of 1.38%. This is an increase from CDW’s previous quarterly dividend of $0.62. CDW’s dividend payout ratio is 30.56%.

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.