Blueshift Asset Management LLC grew its holdings in CDW Co. (NASDAQ:CDW - Free Report) by 257.6% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,057 shares of the information technology services provider's stock after acquiring an additional 3,643 shares during the period. Blueshift Asset Management LLC's holdings in CDW were worth $880,000 as of its most recent SEC filing.
Several other hedge funds also recently modified their holdings of the business. Allworth Financial LP lifted its stake in shares of CDW by 39.7% in the 4th quarter. Allworth Financial LP now owns 183 shares of the information technology services provider's stock valued at $32,000 after purchasing an additional 52 shares during the last quarter. Summit Trail Advisors LLC grew its holdings in CDW by 1.4% during the fourth quarter. Summit Trail Advisors LLC now owns 4,040 shares of the information technology services provider's stock valued at $703,000 after purchasing an additional 56 shares during the last quarter. Parkside Financial Bank & Trust raised its position in shares of CDW by 38.9% in the fourth 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 during the period. Fulcrum Equity Management lifted its stake 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 boosted its holdings in 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 valued at $248,000 after acquiring an additional 61 shares during the period. Institutional investors and hedge funds own 93.15% of the company's stock.
CDW Price Performance
NASDAQ:CDW traded up $4.74 during mid-day trading on Monday, hitting $170.31. The company's stock had a trading volume of 1,011,289 shares, compared to its average volume of 1,040,210. 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 fifty day moving average of $184.19 and a 200-day moving average of $192.73. The company has a market capitalization of $22.56 billion, a price-to-earnings ratio of 21.37, a P/E/G ratio of 3.21 and a beta of 1.01. CDW Co. has a fifty-two week low of $162.84 and a fifty-two week high of $263.37.
CDW (NASDAQ:CDW - Get Free Report) last issued its earnings results on Wednesday, February 5th. The information technology services provider reported $2.40 EPS for the quarter, beating 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%. As a group, equities analysts forecast that CDW Co. will post 9.41 EPS for the current fiscal year.
CDW announced that its board has authorized a share buyback plan on Wednesday, February 5th that allows the company to buyback $750.00 million in shares. This buyback authorization allows the information technology services provider to repurchase up to 2.7% of its shares through open market purchases. Shares buyback plans are often a sign that the company's board of directors believes its stock is undervalued.
CDW Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 11th. Stockholders of record on Tuesday, February 25th were issued a dividend of $0.625 per share. This represents a $2.50 annualized dividend and a dividend yield of 1.47%. The ex-dividend date was Tuesday, February 25th. CDW's payout ratio is 31.37%.
Analysts Set New Price Targets
CDW has been the subject of several recent analyst reports. Barclays increased their target price on CDW from $201.00 to $223.00 and gave the company an "equal weight" rating in a research note 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. Finally, Morgan Stanley boosted their target price 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. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, CDW presently has an average rating of "Moderate Buy" and a consensus price target of $235.50.
Get Our Latest Stock Analysis on CDW
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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