Capital Analysts LLC Grows Position in CDW Co. (NASDAQ:CDW)

Capital Analysts LLC raised its holdings in CDW Co. (NASDAQ:CDW) by 21.2% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 406 shares of the information technology services provider’s stock after acquiring an additional 71 shares during the period. Capital Analysts LLC’s holdings in CDW were worth $93,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of CDW. OFI Invest Asset Management purchased a new position in shares of CDW during the 3rd quarter valued at about $25,000. VisionPoint Advisory Group LLC purchased a new position in shares of CDW during the 3rd quarter valued at about $28,000. TFC Financial Management Inc. raised its holdings in shares of CDW by 61.1% during the 3rd quarter. TFC Financial Management Inc. now owns 145 shares of the information technology services provider’s stock valued at $29,000 after buying an additional 55 shares in the last quarter. Altshuler Shaham Ltd purchased a new position in CDW in the 4th quarter worth approximately $33,000. Finally, Orion Capital Management LLC purchased a new position in CDW in the 3rd quarter worth approximately $35,000. 93.15% of the stock is owned by hedge funds and other institutional investors.

CDW Price Performance

Shares of CDW stock opened at $235.70 on Friday. The company has a debt-to-equity ratio of 2.46, a quick ratio of 1.11 and a current ratio of 1.23. CDW Co. has a fifty-two week low of $160.66 and a fifty-two week high of $263.37. The firm has a market cap of $31.67 billion, a P/E ratio of 29.10, a P/E/G ratio of 2.72 and a beta of 1.09. The business’s 50 day moving average price is $247.41 and its 200-day moving average price is $227.05.

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

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

CDW Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 12th. Investors of record on Monday, February 26th were given a dividend of $0.62 per share. The ex-dividend date was Friday, February 23rd. This represents a $2.48 annualized dividend and a dividend yield of 1.05%. CDW’s dividend payout ratio is presently 30.62%.

Analyst Ratings Changes

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

About CDW

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.