Townsquare Capital LLC Has $3.75 Million Holdings in CDW Co. (NASDAQ:CDW)

Townsquare Capital LLC lifted its holdings in shares of CDW Co. (NASDAQ:CDW - Free Report) by 22.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 21,555 shares of the information technology services provider's stock after buying an additional 3,905 shares during the period. Townsquare Capital LLC's holdings in CDW were worth $3,751,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of CDW. Norges Bank acquired a new position in shares of CDW in the fourth quarter worth $144,826,000. Madison Investment Advisors LLC purchased a new stake in CDW during the fourth quarter worth approximately $130,996,000. Proficio Capital Partners LLC increased its holdings in CDW by 18,259.3% in the 4th quarter. Proficio Capital Partners LLC now owns 687,189 shares of the information technology services provider's stock valued at $119,598,000 after purchasing an additional 683,446 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its stake in shares of CDW by 31.3% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,414,093 shares of the information technology services provider's stock worth $420,149,000 after purchasing an additional 575,333 shares in the last quarter. Finally, Wellington Management Group LLP boosted its position in shares of CDW by 29.2% in the fourth quarter. Wellington Management Group LLP now owns 2,538,775 shares of the information technology services provider's stock worth $441,848,000 after buying an additional 574,444 shares during the period. 93.15% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have weighed in on CDW. JPMorgan Chase & Co. decreased their price target on CDW from $222.00 to $175.00 and set a "neutral" rating for the company in a report on Thursday. Barclays increased their target price on CDW from $201.00 to $223.00 and gave the stock an "equal weight" rating in a report on Thursday, February 6th. Morgan Stanley increased their price objective on shares of CDW from $193.00 to $201.00 and gave the stock an "equal weight" rating in a research note on Thursday, February 6th. Citigroup cut their target price on CDW from $220.00 to $160.00 and set a "neutral" rating on the stock in a research note on Monday, April 14th. Finally, 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. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $217.38.

CDW Price Performance

Shares of CDW traded up $2.70 during mid-day trading on Friday, hitting $151.47. The company's stock had a trading volume of 1,166,889 shares, compared to its average volume of 1,167,844. CDW Co. has a fifty-two week low of $137.31 and a fifty-two week high of $248.12. The stock has a market capitalization of $19.96 billion, a price-to-earnings ratio of 19.01, a PEG ratio of 3.21 and a beta of 0.97. The firm has a 50-day moving average price of $167.67 and a 200 day moving average price of $183.69. 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 (NASDAQ:CDW - Get Free Report) last released its quarterly earnings results on Wednesday, February 5th. The information technology services provider reported $2.40 earnings per share for the quarter, beating 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, research analysts predict that CDW Co. will post 9.41 EPS for the current fiscal year.

CDW Dividend Announcement

The firm also recently declared 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. The ex-dividend date was Tuesday, February 25th. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.65%. CDW's dividend payout ratio is 31.37%.

CDW declared that its Board of Directors has approved a share buyback plan on Wednesday, February 5th that authorizes the company to buyback $750.00 million in outstanding shares. This buyback authorization authorizes the information technology services provider to repurchase up to 2.7% of its shares through open market purchases. Shares buyback plans are typically a sign that the company's board believes its stock is undervalued.

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.