Handelsbanken Fonder AB Grows Stake in CDW Co. (NASDAQ:CDW)

Handelsbanken Fonder AB increased its stake in CDW Co. (NASDAQ:CDW) by 38.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 24,122 shares of the information technology services provider’s stock after acquiring an additional 6,743 shares during the period. Handelsbanken Fonder AB’s holdings in CDW were worth $5,483,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Capital Investment Advisors LLC boosted its position in shares of CDW by 35.5% during the third quarter. Capital Investment Advisors LLC now owns 1,546 shares of the information technology services provider’s stock valued at $312,000 after buying an additional 405 shares during the period. Meridian Wealth Management LLC boosted its position in shares of CDW by 3.6% during the third quarter. Meridian Wealth Management LLC now owns 1,806 shares of the information technology services provider’s stock valued at $364,000 after buying an additional 63 shares during the period. Strategic Blueprint LLC boosted its position in shares of CDW by 3.8% during the third quarter. Strategic Blueprint LLC now owns 3,136 shares of the information technology services provider’s stock valued at $633,000 after buying an additional 115 shares during the period. CX Institutional purchased a new position in shares of CDW during the third quarter valued at approximately $2,654,000. Finally, Czech National Bank boosted its position in shares of CDW by 46.7% during the third quarter. Czech National Bank now owns 23,429 shares of the information technology services provider’s stock valued at $4,727,000 after buying an additional 7,463 shares during the period. Hedge funds and other institutional investors own 93.15% of the company’s stock.

CDW Trading Up 1.1 %

Shares of CDW stock opened at $243.42 on Friday. The firm has a market capitalization of $32.71 billion, a PE ratio of 30.05, a P/E/G ratio of 2.72 and a beta of 1.09. CDW Co. has a twelve month low of $162.59 and a twelve month high of $263.37. The firm’s 50-day moving average price is $247.22 and its 200 day moving average price is $228.20. The company has a current ratio of 1.23, a quick ratio of 1.11 and a debt-to-equity ratio of 2.46.

CDW (NASDAQ:CDW) last issued its quarterly earnings results on Wednesday, February 7th. The information technology services provider reported $2.57 earnings per share for the quarter, beating analysts’ consensus estimates of $2.56 by $0.01. The firm had revenue of $5.02 billion for the quarter, compared to analyst estimates of $5.32 billion. CDW had a net margin of 5.17% and a return on equity of 73.93%. CDW’s quarterly revenue was down 7.7% compared to the same quarter last year. During the same period last year, the company posted $2.40 EPS. On average, sell-side analysts predict that CDW Co. will post 9.89 EPS for the current fiscal year.

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

CDW Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 12th. Investors of record on Monday, February 26th were paid a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a yield of 1.02%. The ex-dividend date was Friday, February 23rd. CDW’s dividend payout ratio is presently 30.62%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on CDW shares. Barclays lifted their price target on shares of CDW from $219.00 to $261.00 and gave the company an “equal weight” rating in a research note on Thursday, February 8th. JPMorgan Chase & Co. boosted their price objective on shares of CDW from $267.00 to $280.00 and gave the stock an “overweight” rating in a research note on Thursday, April 11th. Evercore ISI boosted their price objective on shares of CDW from $250.00 to $300.00 and gave the stock an “outperform” rating in a research note on Friday, March 22nd. Finally, Citigroup boosted their price objective on shares of CDW from $255.00 to $295.00 and gave the stock a “buy” rating in a research note on Thursday, April 4th. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $242.67.

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.