Cibc World Markets Corp Purchases 2,842 Shares of CDW Co. (NASDAQ:CDW)

Cibc World Markets Corp boosted its stake in shares of CDW Co. (NASDAQ:CDW) by 13.5% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 23,972 shares of the information technology services provider’s stock after buying an additional 2,842 shares during the quarter. Cibc World Markets Corp’s holdings in CDW were worth $4,172,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in CDW. LMR Partners LLP bought a new position in CDW during the third quarter valued at about $381,000. PNC Financial Services Group Inc. grew its position in CDW by 2.3% during the third quarter. PNC Financial Services Group Inc. now owns 696,733 shares of the information technology services provider’s stock valued at $157,671,000 after buying an additional 15,527 shares during the period. Thompson Siegel & Walmsley LLC grew its position in CDW by 8.8% during the third quarter. Thompson Siegel & Walmsley LLC now owns 24,712 shares of the information technology services provider’s stock valued at $5,592,000 after buying an additional 2,000 shares during the period. Massachusetts Financial Services Co. MA bought a new position in CDW during the third quarter valued at about $416,111,000. Finally, Charles Schwab Investment Management Inc. grew its position in CDW by 1.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 775,240 shares of the information technology services provider’s stock valued at $175,437,000 after buying an additional 7,764 shares during the period. Institutional investors own 93.15% of the company’s stock.

Analyst Ratings Changes

CDW has been the subject of several research reports. UBS Group reduced their price target on shares of CDW from $233.00 to $220.00 and set a “buy” rating for the company in a research report on Tuesday, January 7th. Morgan Stanley increased their target price on shares of 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 increased their target price on shares of CDW from $201.00 to $223.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 6th. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, CDW has a consensus rating of “Moderate Buy” and an average price target of $242.67.

CDW Trading Up 1.2 %

Shares of CDW stock opened at $172.84 on Thursday. CDW Co. has a 12-month low of $162.84 and a 12-month high of $263.37. The company has a market cap of $22.90 billion, a price-to-earnings ratio of 21.69, a PEG 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. The company’s 50-day moving average price is $185.01 and its 200-day moving average price is $193.96.

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

CDW Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 11th. Stockholders of record on Tuesday, February 25th were issued a $0.625 dividend. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.45%. The ex-dividend date of this dividend was Tuesday, February 25th. CDW’s payout ratio is 31.37%.

CDW announced that its Board of Directors has authorized a share repurchase plan on Wednesday, February 5th 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 2.7% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

CDW Company 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.