Guggenheim Capital LLC Purchases 197 Shares of CDW Co. (NASDAQ:CDW)

Guggenheim Capital LLC grew its position in CDW Co. (NASDAQ:CDW) by 0.6% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 35,182 shares of the information technology services provider’s stock after buying an additional 197 shares during the period. Guggenheim Capital LLC’s holdings in CDW were worth $6,123,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Allworth Financial LP boosted its holdings in 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 acquiring an additional 52 shares in the last quarter. Summit Trail Advisors LLC grew its position in CDW by 1.4% during the 4th quarter. Summit Trail Advisors LLC now owns 4,040 shares of the information technology services provider’s stock worth $703,000 after purchasing an additional 56 shares during the last quarter. Parkside Financial Bank & Trust increased its stake in CDW by 38.9% during the 4th quarter. Parkside Financial Bank & Trust now owns 207 shares of the information technology services provider’s stock valued at $36,000 after purchasing an additional 58 shares in the last quarter. Fulcrum Equity Management raised its holdings in shares of CDW by 4.3% in the third quarter. Fulcrum Equity Management now owns 1,442 shares of the information technology services provider’s stock worth $326,000 after buying an additional 60 shares during the last quarter. Finally, Jacobi Capital Management LLC lifted its stake in shares of CDW by 4.5% during the fourth quarter. Jacobi Capital Management LLC now owns 1,428 shares of the information technology services provider’s stock worth $248,000 after buying an additional 61 shares during the period. Hedge funds and other institutional investors own 93.15% of the company’s stock.

Analysts Set New Price Targets

CDW has been the subject of a number of research analyst reports. UBS Group reduced their target price on CDW from $233.00 to $220.00 and set a “buy” rating for the company in a research note on Tuesday, January 7th. Citigroup reduced their price objective on CDW from $220.00 to $160.00 and set a “neutral” rating for the company in a research note on Monday. Barclays upped their target price on CDW from $201.00 to $223.00 and gave the company an “equal weight” rating in a research report on Thursday, February 6th. Morgan Stanley raised their price target 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, JPMorgan Chase & Co. dropped their price objective on shares of CDW from $222.00 to $175.00 and set a “neutral” rating on the stock in a report on Thursday. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $217.38.

CDW Stock Performance

CDW opened at $151.47 on Friday. The stock has a market cap of $19.96 billion, a P/E ratio of 19.01, a P/E/G ratio of 3.21 and a beta of 0.97. The company has a debt-to-equity ratio of 2.38, a current ratio of 1.35 and a quick ratio of 1.24. The firm has a fifty day moving average price of $168.47 and a 200 day moving average price of $184.14. CDW Co. has a 1 year low of $137.31 and a 1 year high of $248.12.

CDW (NASDAQ:CDW) last posted its earnings results on Wednesday, February 5th. The information technology services provider reported $2.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.33 by $0.07. CDW had a net margin of 5.13% and a return on equity of 55.42%. Equities research 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 repurchase plan on Wednesday, February 5th that allows the company to buyback $750.00 million in outstanding shares. This buyback authorization allows the information technology services provider to buy up to 2.7% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

CDW Dividend Announcement

The firm also recently disclosed 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 1.65%. The ex-dividend date was Tuesday, February 25th. CDW’s payout ratio is currently 31.37%.

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.