Y Intercept Hong Kong Ltd Acquires 316 Shares of CDW Co. (NASDAQ:CDW)

Y Intercept Hong Kong Ltd lifted its position in CDW Co. (NASDAQ:CDW) by 9.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 3,720 shares of the information technology services provider’s stock after purchasing an additional 316 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in CDW were worth $647,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Allworth Financial LP increased its holdings in shares of CDW by 39.7% in the fourth quarter. Allworth Financial LP now owns 183 shares of the information technology services provider’s stock worth $32,000 after purchasing an additional 52 shares during the period. Ashton Thomas Securities LLC bought a new position in shares of CDW in the third quarter worth $43,000. Covestor Ltd increased its holdings in shares of CDW by 80.1% in the third 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 period. Canoe Financial LP increased its holdings in shares of CDW by 68.3% in the fourth quarter. Canoe Financial LP now owns 276 shares of the information technology services provider’s stock worth $48,000 after purchasing an additional 112 shares during the period. Finally, Brooklyn Investment Group bought a new position in shares of CDW in the third quarter worth $90,000. Institutional investors own 93.15% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Barclays upped their price target on shares of CDW from $201.00 to $223.00 and gave the stock an “equal weight” rating in a report on Thursday, February 6th. Redburn Atlantic started coverage on CDW in a research note on Friday, November 15th. They issued a “buy” rating and a $230.00 target price on the stock. UBS Group reduced their target price on CDW from $233.00 to $220.00 and set a “buy” rating on the stock in a research note on Tuesday, January 7th. Finally, Morgan Stanley increased their target price on CDW from $193.00 to $201.00 and gave the company an “equal weight” rating in a research note on Thursday, February 6th. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $242.67.

CDW Stock Down 0.4 %

Shares of NASDAQ:CDW opened at $178.20 on Friday. The stock’s 50-day moving average price is $186.73 and its 200-day moving average price is $199.29. CDW Co. has a 12-month low of $168.43 and a 12-month high of $263.37. The stock has a market capitalization of $23.61 billion, a P/E ratio of 22.36, a price-to-earnings-growth ratio of 3.21 and a beta of 1.01. The company has a current ratio of 1.35, a quick ratio of 1.24 and a debt-to-equity ratio of 2.38.

CDW (NASDAQ:CDW) last announced its quarterly earnings data on Wednesday, February 5th. The information technology services provider reported $2.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.33 by $0.07. CDW had a return on equity of 55.42% and a net margin of 5.13%. On average, equities analysts anticipate that CDW Co. will post 9.41 earnings per share for the current year.

CDW declared that its Board of Directors has initiated a share buyback plan on Wednesday, February 5th 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 2.7% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s management believes its shares are undervalued.

CDW Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 11th. Stockholders of record on Tuesday, February 25th will be paid a dividend of $0.625 per share. The ex-dividend date is Tuesday, February 25th. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.40%. CDW’s dividend payout ratio (DPR) is currently 31.37%.

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.