Groesbeck Investment Management Corp NJ Has $2.24 Million Stock Position in CDW Co. (NASDAQ:CDW)

Groesbeck Investment Management Corp NJ lessened its holdings in shares of CDW Co. (NASDAQ:CDW) by 5.2% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 12,870 shares of the information technology services provider’s stock after selling 700 shares during the period. CDW accounts for approximately 2.9% of Groesbeck Investment Management Corp NJ’s holdings, making the stock its 8th biggest position. Groesbeck Investment Management Corp NJ’s holdings in CDW were worth $2,240,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the business. Canoe Financial LP bought a new position in CDW in the 3rd quarter worth about $37,000. Fortitude Family Office LLC grew its position in CDW by 350.0% in the 3rd 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 during the last quarter. Ashton Thomas Securities LLC bought a new position in CDW in the 3rd quarter worth about $43,000. Covestor Ltd grew its position in CDW by 80.1% in the 3rd quarter. Covestor Ltd now owns 245 shares of the information technology services provider’s stock worth $55,000 after purchasing an additional 109 shares during the last quarter. Finally, Brooklyn Investment Group bought a new position in CDW in the 3rd quarter worth about $90,000. Institutional investors own 93.15% of the company’s stock.

CDW Stock Up 0.5 %

NASDAQ CDW opened at $199.34 on Wednesday. The company has a debt-to-equity ratio of 2.39, a current ratio of 1.40 and a quick ratio of 1.28. The company’s 50 day simple moving average is $182.49 and its 200 day simple moving average is $202.62. CDW Co. has a 12 month low of $168.43 and a 12 month high of $263.37. The company has a market capitalization of $26.56 billion, a P/E ratio of 24.37, a PEG ratio of 5.39 and a beta of 1.01.

CDW Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Monday, November 25th were issued a $0.625 dividend. This is an increase from CDW’s previous quarterly dividend of $0.62. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.25%. The ex-dividend date was Monday, November 25th. CDW’s payout ratio is presently 30.56%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. UBS Group decreased their target price on shares of CDW from $233.00 to $220.00 and set a “buy” rating for the company in a research report on Tuesday, January 7th. Barclays decreased their target price on shares of CDW from $229.00 to $201.00 and set an “equal weight” rating for the company in a research report on Thursday, October 31st. Morgan Stanley upped their price target on shares of CDW from $190.00 to $193.00 and gave the stock an “equal weight” rating in a research note on Monday, December 16th. JPMorgan Chase & Co. lowered shares of CDW from an “overweight” rating to a “neutral” rating and reduced their price target for the stock from $260.00 to $235.00 in a research note on Monday, October 28th. Finally, Redburn Atlantic started coverage on shares of CDW in a research note on Friday, November 15th. They issued a “buy” rating and a $230.00 price target for the company. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, CDW presently has a consensus rating of “Moderate Buy” and a consensus target price of $239.33.

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.