Cibc World Markets Corp Buys 2,842 Shares of CDW Co. (NASDAQ:CDW)

Cibc World Markets Corp increased its position in CDW Co. (NASDAQ:CDW - Free Report) by 13.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 23,972 shares of the information technology services provider's stock after purchasing an additional 2,842 shares during the quarter. Cibc World Markets Corp's holdings in CDW were worth $4,172,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA bought a new position in shares of CDW in the 3rd quarter worth $416,111,000. Janus Henderson Group PLC lifted its stake in CDW by 7,029.1% in the third quarter. Janus Henderson Group PLC now owns 1,466,597 shares of the information technology services provider's stock valued at $331,891,000 after buying an additional 1,446,025 shares during the period. Holocene Advisors LP acquired a new position in shares of CDW during the 3rd quarter worth about $172,217,000. Madison Investment Advisors LLC bought a new stake in shares of CDW in the 4th quarter valued at about $130,996,000. Finally, Proficio Capital Partners LLC raised its position in shares of 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 acquiring an additional 683,446 shares during the period. 93.15% of the stock is owned by institutional investors.

CDW Stock Up 2.9 %

CDW stock traded up $4.74 during trading hours on Monday, reaching $170.31. 1,011,289 shares of the stock were exchanged, compared to its average volume of 1,040,202. The company has a market cap of $22.56 billion, a price-to-earnings ratio of 21.37, a PEG ratio of 3.21 and a beta of 1.01. The firm's 50-day moving average is $184.40 and its 200-day moving average is $193.04. CDW Co. has a 12 month low of $162.84 and a 12 month high of $263.37. The company has a debt-to-equity ratio of 2.38, a current ratio of 1.35 and a quick ratio of 1.24.

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

CDW announced that its Board of Directors has approved a stock 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 board of directors believes its stock is undervalued.

CDW Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 11th. Investors of record on Tuesday, February 25th were issued a dividend of $0.625 per share. This represents a $2.50 annualized dividend and a yield of 1.47%. The ex-dividend date was Tuesday, February 25th. CDW's payout ratio is 31.37%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on CDW shares. Barclays boosted their price objective on shares of CDW from $201.00 to $223.00 and gave the company an "equal weight" rating in a report on Thursday, February 6th. Morgan Stanley boosted their price target on shares of CDW from $193.00 to $201.00 and gave the company an "equal weight" rating in a report on Thursday, February 6th. Finally, UBS Group dropped their price objective on CDW from $233.00 to $220.00 and set a "buy" rating on the stock in a research note on Tuesday, January 7th. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, CDW currently has a consensus rating of "Moderate Buy" and an average target price of $235.50.

About CDW

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.