Jacobi Capital Management LLC Increases Holdings in CDW Co. (NASDAQ:CDW)

Jacobi Capital Management LLC lifted its position in shares of CDW Co. (NASDAQ:CDW) by 4.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,428 shares of the information technology services provider’s stock after buying an additional 61 shares during the period. Jacobi Capital Management LLC’s holdings in CDW were worth $248,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC increased its stake in CDW by 7.3% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 6,667 shares of the information technology services provider’s stock worth $1,509,000 after purchasing an additional 451 shares during the period. Van ECK Associates Corp increased its stake in CDW by 11.0% in the 3rd quarter. Van ECK Associates Corp now owns 24,619 shares of the information technology services provider’s stock worth $5,358,000 after purchasing an additional 2,441 shares during the period. Intact Investment Management Inc. purchased a new position in CDW in the 3rd quarter worth approximately $543,000. National Pension Service increased its stake in CDW by 0.9% in the 3rd quarter. National Pension Service now owns 207,541 shares of the information technology services provider’s stock worth $46,967,000 after purchasing an additional 1,796 shares during the period. Finally, PDS Planning Inc increased its stake in CDW by 4.3% in the 3rd quarter. PDS Planning Inc now owns 1,186 shares of the information technology services provider’s stock worth $268,000 after purchasing an additional 49 shares during the period. 93.15% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CDW has been the topic of a number of analyst reports. Redburn Atlantic started coverage on CDW in a research note on Friday, November 15th. They issued a “buy” rating and a $230.00 price target on the stock. UBS Group cut their price objective on CDW from $233.00 to $220.00 and set a “buy” rating on the stock in a research report on Tuesday, January 7th. Morgan Stanley lifted their price objective on CDW from $193.00 to $201.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 6th. Finally, Barclays lifted their price objective on CDW from $201.00 to $223.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 6th. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $242.67.

CDW Trading Down 3.2 %

NASDAQ CDW opened at $172.50 on Tuesday. The company has a quick ratio of 1.24, a current ratio of 1.35 and a debt-to-equity ratio of 2.38. CDW Co. has a twelve month low of $168.43 and a twelve month high of $263.37. The firm has a market capitalization of $22.85 billion, a PE ratio of 21.64, a P/E/G ratio of 3.21 and a beta of 1.01. The stock’s 50 day moving average is $186.80 and its 200 day moving average is $198.81.

CDW (NASDAQ:CDW) last released its quarterly earnings results on Wednesday, February 5th. The information technology services provider reported $2.40 earnings per share for the quarter, beating the consensus estimate of $2.33 by $0.07. CDW had a return on equity of 55.42% and a net margin of 5.13%. Research analysts forecast that CDW Co. will post 9.41 earnings per share for the current fiscal year.

CDW Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 11th. Shareholders of record on Tuesday, February 25th will be paid a dividend of $0.625 per share. This represents a $2.50 dividend on an annualized basis and a yield of 1.45%. The ex-dividend date of this dividend is Tuesday, February 25th. CDW’s payout ratio is 31.37%.

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 shares. This buyback authorization authorizes the information technology services provider to reacquire up to 2.7% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s management believes its shares are undervalued.

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.