Congress Asset Management Co. Purchases 5,507 Shares of CDW Co. (NASDAQ:CDW)

Congress Asset Management Co. boosted its holdings in shares of CDW Co. (NASDAQ:CDW - Free Report) by 8.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 71,065 shares of the information technology services provider's stock after acquiring an additional 5,507 shares during the period. Congress Asset Management Co. owned approximately 0.05% of CDW worth $12,368,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Exchange Traded Concepts LLC boosted its holdings in shares of CDW by 50.7% in the third quarter. Exchange Traded Concepts LLC now owns 2,398 shares of the information technology services provider's stock valued at $543,000 after buying an additional 807 shares during the period. Creative Planning lifted its position in CDW by 2.1% in the 3rd quarter. Creative Planning now owns 14,255 shares of the information technology services provider's stock valued at $3,226,000 after acquiring an additional 297 shares in the last quarter. Vontobel Holding Ltd. boosted its stake in CDW by 2.7% in the 3rd quarter. Vontobel Holding Ltd. now owns 2,989 shares of the information technology services provider's stock worth $676,000 after purchasing an additional 78 shares during the period. Bleakley Financial Group LLC increased its holdings in CDW by 4.8% during the 3rd quarter. Bleakley Financial Group LLC now owns 3,049 shares of the information technology services provider's stock worth $690,000 after purchasing an additional 140 shares in the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in shares of CDW by 0.9% in the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 14,620 shares of the information technology services provider's stock valued at $3,309,000 after purchasing an additional 126 shares during the period. 93.15% of the stock is currently owned by institutional investors.

CDW Stock Down 0.9 %

CDW traded down $1.70 during trading on Thursday, reaching $192.80. 915,227 shares of the stock were exchanged, compared to its average volume of 1,388,395. The company has a debt-to-equity ratio of 2.38, a quick ratio of 1.24 and a current ratio of 1.35. The stock's 50 day moving average price is $185.64 and its two-hundred day moving average price is $200.28. CDW Co. has a twelve month low of $168.43 and a twelve month high of $263.37. The stock has a market cap of $25.69 billion, a P/E ratio of 24.19, a price-to-earnings-growth ratio of 3.21 and a beta of 1.01.

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

CDW declared that its board has authorized a share repurchase program 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 shares through open market purchases. Shares buyback programs are generally a sign that the company's management believes its shares are undervalued.

CDW Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 11th. Stockholders of record on Tuesday, February 25th will be given a $0.625 dividend. The ex-dividend date of this dividend is Tuesday, February 25th. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.30%. CDW's payout ratio is 31.37%.

Wall Street Analysts Forecast Growth

CDW has been the subject of several recent research reports. Morgan Stanley upped their price objective on CDW from $193.00 to $201.00 and gave the stock an "equal weight" rating in a research report on Thursday, February 6th. Barclays boosted 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 decreased their price target on shares of CDW from $233.00 to $220.00 and set a "buy" rating for the company in a research note on Tuesday, January 7th. JPMorgan Chase & Co. lowered shares of CDW from an "overweight" rating to a "neutral" rating and cut their price objective for the stock from $260.00 to $235.00 in a research report on Monday, October 28th. Finally, Redburn Atlantic began coverage on shares of CDW in a report on Friday, November 15th. They set a "buy" rating and a $230.00 target price for the company. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock 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.