Distillate Capital Partners LLC purchased a new position in shares of CDW Co. (NASDAQ:CDW - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 94,319 shares of the information technology services provider's stock, valued at approximately $16,415,000. Distillate Capital Partners LLC owned 0.07% of CDW at the end of the most recent quarter.
Several other large investors have also made changes to their positions in CDW. Norges Bank acquired a new stake in shares of CDW in the 4th quarter valued at approximately $144,826,000. Madison Investment Advisors LLC acquired a new stake in CDW in the fourth quarter valued at approximately $130,996,000. Proficio Capital Partners LLC grew its stake in shares of CDW by 18,259.3% during the fourth quarter. Proficio Capital Partners LLC now owns 687,189 shares of the information technology services provider's stock worth $119,598,000 after buying an additional 683,446 shares during the last quarter. Massachusetts Financial Services Co. MA increased its holdings 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 buying an additional 575,333 shares in the last quarter. Finally, Wellington Management Group LLP increased its holdings in shares of CDW by 29.2% during 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 in the last quarter. Institutional investors and hedge funds own 93.15% of the company's stock.
Analyst Ratings Changes
CDW has been the subject of several research reports. UBS Group dropped their target price on CDW from $233.00 to $220.00 and set a "buy" rating for the company in a research report on Tuesday, January 7th. Barclays raised 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 target price on shares of CDW from $193.00 to $201.00 and gave the stock an "equal weight" rating in a report on Thursday, February 6th. Finally, Citigroup dropped their price target on shares of CDW from $220.00 to $160.00 and set a "neutral" rating for the company in a research note on Monday. Four analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $224.88.
Check Out Our Latest Research Report on CDW
CDW Trading Down 0.6 %
CDW stock traded down $0.91 during midday trading on Tuesday, hitting $150.83. The stock had a trading volume of 908,580 shares, compared to its average volume of 1,163,488. 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 firm has a market cap of $19.98 billion, a P/E ratio of 18.92, a price-to-earnings-growth ratio of 3.21 and a beta of 0.97. The business has a fifty day moving average price of $170.14 and a two-hundred day moving average price of $184.91. CDW Co. has a 1-year low of $137.31 and a 1-year high of $248.12.
CDW (NASDAQ:CDW - Get Free Report) last announced its quarterly earnings data 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, sell-side analysts predict that CDW Co. will post 9.41 earnings per share for the current fiscal year.
CDW announced that its board has authorized a stock repurchase plan on Wednesday, February 5th that authorizes the company to repurchase $750.00 million in shares. This repurchase authorization authorizes the information technology services provider to purchase up to 2.7% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company's management believes its stock is undervalued.
CDW Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Tuesday, March 11th. Investors of record on Tuesday, February 25th were given 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 1.66%. CDW's payout ratio is presently 31.37%.
CDW Company Profile
(
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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