Bank of Montreal Can Purchases 3,344 Shares of CDW Co. (NASDAQ:CDW)

Bank of Montreal Can boosted its stake in CDW Co. (NASDAQ:CDW - Free Report) by 2.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 167,227 shares of the information technology services provider's stock after purchasing an additional 3,344 shares during the period. Bank of Montreal Can owned about 0.13% of CDW worth $29,104,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in CDW. Orion Portfolio Solutions LLC increased its stake in shares of CDW by 9.6% in the third quarter. Orion Portfolio Solutions LLC now owns 7,747 shares of the information technology services provider's stock valued at $1,753,000 after buying an additional 680 shares during the period. Y Intercept Hong Kong Ltd grew its stake in shares of CDW by 54.7% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 3,404 shares of the information technology services provider's stock valued at $770,000 after buying an additional 1,203 shares during the period. Barclays PLC increased its position in CDW by 0.3% in the 3rd quarter. Barclays PLC now owns 1,156,789 shares of the information technology services provider's stock valued at $261,779,000 after buying an additional 3,424 shares in the last quarter. Geode Capital Management LLC raised its stake in CDW by 0.9% during the 3rd quarter. Geode Capital Management LLC now owns 3,481,064 shares of the information technology services provider's stock worth $785,635,000 after buying an additional 31,858 shares during the period. Finally, Coldstream Capital Management Inc. grew its stake in CDW by 7.9% in the third quarter. Coldstream Capital Management Inc. now owns 1,594 shares of the information technology services provider's stock valued at $355,000 after acquiring an additional 117 shares during the period. Institutional investors and hedge funds own 93.15% of the company's stock.

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CDW Price Performance

Shares of CDW traded down $0.94 during midday trading on Tuesday, reaching $150.80. The stock had a trading volume of 443,018 shares, compared to its average volume of 1,160,084. 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 has a market capitalization of $19.98 billion, a price-to-earnings ratio of 18.94, a price-to-earnings-growth ratio of 3.21 and a beta of 0.97. The company's 50-day moving average is $171.12 and its 200 day moving average is $185.15. CDW Co. has a 12-month low of $137.31 and a 12-month high of $248.12.

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 (EPS) for the quarter, topping the consensus estimate 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 analysts predict that CDW Co. will post 9.41 EPS for the current fiscal year.

CDW declared that its Board of Directors has approved a share buyback program 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 purchase up to 2.7% of its shares through open market purchases. Shares repurchase programs are often a sign that the company's board of directors believes its shares are undervalued.

CDW Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 11th. Shareholders of record on Tuesday, February 25th were paid a $0.625 dividend. This represents a $2.50 annualized dividend and a yield of 1.66%. The ex-dividend date was Tuesday, February 25th. CDW's dividend payout ratio is presently 31.37%.

Analysts Set New Price Targets

Several research analysts have weighed in on CDW shares. Barclays upped their price objective on shares of CDW from $201.00 to $223.00 and gave the stock an "equal weight" rating in a report on Thursday, February 6th. Morgan Stanley raised their price target on shares of CDW from $193.00 to $201.00 and gave the company an "equal weight" rating in a research report on Thursday, February 6th. UBS Group decreased their price objective on CDW from $233.00 to $220.00 and set a "buy" rating for the company in a report on Tuesday, January 7th. Finally, Citigroup dropped their target price on CDW from $220.00 to $160.00 and set a "neutral" rating on the stock in a report on Monday. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $224.88.

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.