Charles Schwab Investment Management Inc. Purchases 21,618 Shares of CDW Co. (NASDAQ:CDW)

Charles Schwab Investment Management Inc. lifted its position in CDW Co. (NASDAQ:CDW - Free Report) by 2.8% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 796,858 shares of the information technology services provider's stock after purchasing an additional 21,618 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.60% of CDW worth $138,685,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of CDW. Allworth Financial LP boosted its holdings in CDW by 39.7% in the fourth quarter. Allworth Financial LP now owns 183 shares of the information technology services provider's stock valued at $32,000 after acquiring an additional 52 shares during the last quarter. Summit Trail Advisors LLC raised its stake in shares of 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 worth $703,000 after buying an additional 56 shares during the last quarter. OneAscent Wealth Management LLC lifted its holdings in CDW by 2.5% in the third quarter. OneAscent Wealth Management LLC now owns 2,387 shares of the information technology services provider's stock valued at $540,000 after buying an additional 58 shares during the period. Parkside Financial Bank & Trust boosted its stake in 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 acquiring an additional 58 shares during the last quarter. Finally, Fulcrum Equity Management raised its position in shares of CDW by 4.3% during the 3rd quarter. Fulcrum Equity Management now owns 1,442 shares of the information technology services provider's stock valued at $326,000 after acquiring an additional 60 shares during the last quarter. Institutional investors and hedge funds own 93.15% of the company's stock.

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CDW Stock Down 2.0 %

CDW traded down $3.46 during trading on Tuesday, hitting $166.05. The company had a trading volume of 1,583,374 shares, compared to its average volume of 1,020,747. The firm's 50-day moving average price is $186.14 and its 200 day moving average price is $196.61. The company has a market capitalization of $22.00 billion, a PE ratio of 20.83, a PEG ratio of 3.21 and a beta of 1.01. The company has a quick ratio of 1.24, a current ratio of 1.35 and a debt-to-equity ratio of 2.38. CDW Co. has a one year low of $164.98 and a one year high of $263.37.

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

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

CDW Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 11th. Investors of record on Tuesday, February 25th will be given a $0.625 dividend. This represents a $2.50 dividend on an annualized basis and a yield of 1.51%. The ex-dividend date is Tuesday, February 25th. CDW's dividend payout ratio (DPR) is currently 31.37%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Barclays upped their price objective on CDW from $201.00 to $223.00 and gave the company an "equal weight" rating in a report on Thursday, February 6th. Morgan Stanley upped their price target on CDW from $193.00 to $201.00 and gave the company an "equal weight" rating in a research note on Thursday, February 6th. UBS Group cut their price target on shares of CDW from $233.00 to $220.00 and set a "buy" rating on the stock in a research report on Tuesday, January 7th. Finally, Redburn Atlantic assumed coverage on shares of CDW in a research note on Friday, November 15th. They issued a "buy" rating and a $230.00 target price for the company. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat, CDW currently has an average rating of "Moderate Buy" and a consensus 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.