CDW Co. (NASDAQ:CDW) Shares Purchased by Carnegie Capital Asset Management LLC

Carnegie Capital Asset Management LLC increased its position in shares of CDW Co. (NASDAQ:CDW) by 2.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,095 shares of the information technology services provider’s stock after purchasing an additional 130 shares during the period. Carnegie Capital Asset Management LLC’s holdings in CDW were worth $1,158,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Morgan Stanley lifted its position in CDW by 130.7% in the fourth quarter. Morgan Stanley now owns 2,442,301 shares of the information technology services provider’s stock valued at $436,146,000 after acquiring an additional 1,383,869 shares during the last quarter. Norges Bank purchased a new stake in CDW in the fourth quarter valued at $66,992,000. The Manufacturers Life Insurance Company lifted its position in CDW by 91.8% in the third quarter. The Manufacturers Life Insurance Company now owns 728,446 shares of the information technology services provider’s stock valued at $146,971,000 after acquiring an additional 348,749 shares during the last quarter. Westfield Capital Management Co. LP purchased a new stake in CDW in the first quarter valued at $63,265,000. Finally, Lazard Asset Management LLC lifted its position in CDW by 459.5% in the third quarter. Lazard Asset Management LLC now owns 252,272 shares of the information technology services provider’s stock valued at $50,898,000 after acquiring an additional 207,184 shares during the last quarter. Institutional investors and hedge funds own 93.15% of the company’s stock.

CDW Trading Down 0.6 %

NASDAQ CDW opened at $240.01 on Wednesday. The stock has a market capitalization of $32.25 billion, a P/E ratio of 29.63, a P/E/G ratio of 2.75 and a beta of 1.09. CDW Co. has a 52-week low of $160.66 and a 52-week high of $263.37. The firm has a 50-day moving average price of $247.59 and a 200 day moving average price of $226.92. The company has a quick ratio of 1.11, a current ratio of 1.23 and a debt-to-equity ratio of 2.46.

CDW (NASDAQ:CDW) last posted its quarterly earnings results on Wednesday, February 7th. The information technology services provider reported $2.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.56 by $0.01. The firm had revenue of $5.02 billion during the quarter, compared to analysts’ expectations of $5.32 billion. CDW had a net margin of 5.17% and a return on equity of 73.93%. The firm’s revenue for the quarter was down 7.7% on a year-over-year basis. During the same period in the prior year, the company posted $2.40 earnings per share. Equities research analysts expect that CDW Co. will post 9.88 EPS for the current year.

CDW declared that its Board of Directors has authorized a stock repurchase program on Wednesday, February 7th that authorizes the company to buyback $750.00 million in outstanding shares. This buyback authorization authorizes the information technology services provider to repurchase up to 2.4% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.

CDW Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 12th. Investors of record on Monday, February 26th were issued a dividend of $0.62 per share. The ex-dividend date of this dividend was Friday, February 23rd. This represents a $2.48 annualized dividend and a yield of 1.03%. CDW’s dividend payout ratio is currently 30.62%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on CDW shares. Citigroup boosted their price target on shares of CDW from $255.00 to $295.00 and gave the company a “buy” rating in a research report on Thursday, April 4th. Evercore ISI upped their target price on shares of CDW from $250.00 to $300.00 and gave the company an “outperform” rating in a report on Friday, March 22nd. JPMorgan Chase & Co. upped their target price on shares of CDW from $267.00 to $280.00 and gave the company an “overweight” rating in a report on Thursday, April 11th. Finally, Barclays upped their target price on shares of CDW from $219.00 to $261.00 and gave the company an “equal weight” rating in a report on Thursday, February 8th. Four investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $238.90.

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.