Andra AP fonden boosted its holdings in CDW Co. (NASDAQ:CDW - Free Report) by 356.7% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 95,000 shares of the information technology services provider's stock after buying an additional 74,200 shares during the quarter. Andra AP fonden owned 0.07% of CDW worth $16,534,000 at the end of the most recent quarter.
A number of other hedge funds have also bought and sold shares of CDW. Van ECK Associates Corp boosted its stake in shares of 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 buying an additional 2,441 shares during the last quarter. M&G PLC lifted its stake in shares of CDW by 2.3% in the 3rd quarter. M&G PLC now owns 32,457 shares of the information technology services provider's stock worth $7,335,000 after purchasing an additional 737 shares during the period. Olympiad Research LP bought a new position in CDW in the third quarter worth approximately $266,000. Portside Wealth Group LLC boosted its stake in shares of CDW by 22.9% during the 3rd quarter. Portside Wealth Group LLC now owns 1,250 shares of the information technology services provider's stock worth $283,000 after acquiring an additional 233 shares during the last quarter. Finally, Assetmark Inc. grew its position in shares of CDW by 37.3% during the 3rd quarter. Assetmark Inc. now owns 975 shares of the information technology services provider's stock valued at $221,000 after acquiring an additional 265 shares during the period. Hedge funds and other institutional investors own 93.15% of the company's stock.
Analyst Upgrades and Downgrades
CDW has been the subject of a number of analyst reports. Barclays upped their price target on CDW from $201.00 to $223.00 and gave the stock an "equal weight" rating in a research report on Thursday, February 6th. 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 report on Thursday, February 6th. Redburn Atlantic began coverage on shares of CDW in a report on Friday, November 15th. They set a "buy" rating and a $230.00 price target on the stock. Finally, UBS Group dropped 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. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $242.67.
Get Our Latest Research Report on CDW
CDW Trading Up 0.7 %
CDW stock opened at $168.37 on Friday. The company has a market capitalization of $22.31 billion, a price-to-earnings ratio of 21.13, a PEG 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. CDW Co. has a 1-year low of $164.98 and a 1-year high of $263.37. The business has a 50 day simple moving average of $186.37 and a two-hundred day simple moving average of $197.71.
CDW (NASDAQ:CDW - Get Free Report) last issued its 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 net margin of 5.13% and a return on equity of 55.42%. Research analysts anticipate that CDW Co. will post 9.41 EPS for the current fiscal year.
CDW Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 11th. Stockholders of record on Tuesday, February 25th will be issued a $0.625 dividend. The ex-dividend date is Tuesday, February 25th. This represents a $2.50 annualized dividend and a dividend yield of 1.48%. CDW's dividend payout ratio (DPR) is 31.37%.
CDW announced that its Board of Directors has initiated a stock 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 repurchase up to 2.7% of its stock through open market purchases. Stock buyback plans are often a sign that the company's management believes its shares are undervalued.
About CDW
(
Free Report)
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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This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
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