National Bank of Canada FI Purchases 111,610 Shares of CDW Co. (NASDAQ:CDW)

National Bank of Canada FI grew its position in CDW Co. (NASDAQ:CDW) by 137.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 192,726 shares of the information technology services provider’s stock after acquiring an additional 111,610 shares during the period. National Bank of Canada FI owned about 0.14% of CDW worth $33,542,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Centiva Capital LP acquired a new position in shares of CDW during the 3rd quarter worth approximately $447,000. Hilltop Holdings Inc. increased its holdings in shares of CDW by 34.9% in the third quarter. Hilltop Holdings Inc. now owns 1,714 shares of the information technology services provider’s stock valued at $388,000 after purchasing an additional 443 shares during the last quarter. Janus Henderson Group PLC increased its holdings in shares of CDW by 7,029.1% in the third quarter. Janus Henderson Group PLC now owns 1,466,597 shares of the information technology services provider’s stock valued at $331,891,000 after purchasing an additional 1,446,025 shares during the last quarter. Investment Management Corp of Ontario raised its position in shares of CDW by 49.5% in the third quarter. Investment Management Corp of Ontario now owns 4,531 shares of the information technology services provider’s stock valued at $1,025,000 after purchasing an additional 1,500 shares during the period. Finally, IHT Wealth Management LLC lifted its stake in shares of CDW by 16.5% during the 3rd quarter. IHT Wealth Management LLC now owns 1,635 shares of the information technology services provider’s stock worth $353,000 after buying an additional 231 shares during the last quarter. 93.15% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. UBS Group decreased their price target on shares of CDW from $233.00 to $220.00 and set a “buy” rating on the stock in a research note on Tuesday, January 7th. Barclays increased their target price on CDW from $201.00 to $223.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 6th. Finally, Morgan Stanley boosted their price target 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 analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, CDW has a consensus rating of “Moderate Buy” and a consensus target price of $235.50.

CDW Trading Up 1.5 %

Shares of CDW stock opened at $164.47 on Thursday. The stock has a market cap of $21.79 billion, a P/E ratio of 20.64, a price-to-earnings-growth ratio of 3.21 and a beta of 1.01. CDW Co. has a 1 year low of $158.76 and a 1 year high of $263.37. 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 stock has a 50 day simple moving average of $180.64 and a 200 day simple moving average of $190.34.

CDW (NASDAQ:CDW) last released its earnings results on Wednesday, February 5th. The information technology services provider reported $2.40 earnings per share 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, research analysts predict that CDW Co. will post 9.41 earnings per share for the current fiscal year.

CDW Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 11th. Shareholders of record on Tuesday, February 25th were issued a $0.625 dividend. This represents a $2.50 annualized dividend and a yield of 1.52%. The ex-dividend date of this dividend was Tuesday, February 25th. CDW’s dividend payout ratio is currently 31.37%.

CDW announced that its board has initiated a stock buyback program on Wednesday, February 5th that permits the company to buyback $750.00 million in outstanding shares. This buyback authorization permits the information technology services provider to reacquire up to 2.7% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s management believes its stock is undervalued.

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.