3,627 Shares in CDW Co. (NASDAQ:CDW) Bought by AlphaQuest LLC

AlphaQuest LLC bought a new position in CDW Co. (NASDAQ:CDW - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 3,627 shares of the information technology services provider's stock, valued at approximately $631,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Oddo BHF Asset Management Sas acquired a new stake in shares of CDW in the third quarter worth $1,629,000. Assenagon Asset Management S.A. boosted its position in shares of CDW by 7,549.9% in the fourth quarter. Assenagon Asset Management S.A. now owns 256,271 shares of the information technology services provider's stock worth $44,601,000 after buying an additional 252,921 shares during the period. Franklin Resources Inc. boosted its position in shares of CDW by 3.4% in the third quarter. Franklin Resources Inc. now owns 108,009 shares of the information technology services provider's stock worth $24,138,000 after buying an additional 3,567 shares during the period. Graphene Investments SAS boosted its position in shares of CDW by 17.6% in the fourth quarter. Graphene Investments SAS now owns 17,400 shares of the information technology services provider's stock worth $3,028,000 after buying an additional 2,600 shares during the period. Finally, Czech National Bank boosted its position in shares of CDW by 6.2% in the fourth quarter. Czech National Bank now owns 28,895 shares of the information technology services provider's stock worth $5,029,000 after buying an additional 1,685 shares during the period. Institutional investors and hedge funds own 93.15% of the company's stock.

CDW Price Performance

Shares of NASDAQ:CDW opened at $166.05 on Wednesday. CDW Co. has a fifty-two week low of $164.96 and a fifty-two week high of $263.37. The business has a 50-day moving average of $186.14 and a two-hundred day moving average of $196.61. The stock has a market capitalization of $22.00 billion, a P/E ratio of 20.83, a P/E/G ratio of 3.21 and a beta of 1.01. The company has a debt-to-equity ratio of 2.38, a current ratio of 1.35 and a quick ratio of 1.24.

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CDW (NASDAQ:CDW - Get Free Report) last announced its quarterly earnings results on Wednesday, February 5th. The information technology services provider reported $2.40 earnings per share for the quarter, topping 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 research analysts predict that CDW Co. will post 9.41 EPS for the current fiscal year.

CDW Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 11th. Shareholders of record on Tuesday, February 25th were given a $0.625 dividend. The ex-dividend date of this dividend was Tuesday, February 25th. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.51%. CDW's dividend payout ratio is currently 31.37%.

CDW announced that its Board of Directors has authorized a share repurchase program on Wednesday, February 5th that authorizes the company to repurchase $750.00 million in shares. This repurchase authorization authorizes the information technology services provider to buy up to 2.7% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company's board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

Several brokerages have recently commented on CDW. Morgan Stanley raised their target price on CDW from $193.00 to $201.00 and gave the stock an "equal weight" rating in a research report on Thursday, February 6th. UBS Group reduced their price objective on CDW from $233.00 to $220.00 and set a "buy" rating for the company in a research report on Tuesday, January 7th. Redburn Atlantic initiated coverage on CDW in a research report on Friday, November 15th. They set a "buy" rating and a $230.00 price objective for the company. Finally, Barclays lifted their price objective on CDW from $201.00 to $223.00 and gave the company an "equal weight" rating in a research report on Thursday, February 6th. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, CDW presently has a consensus rating of "Moderate Buy" and an average price target of $242.67.

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.

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