Edgestream Partners L.P. Has $4.72 Million Position in CDW Co. (NASDAQ:CDW)

Edgestream Partners L.P. lifted its position in shares of CDW Co. (NASDAQ:CDW - Free Report) by 43.7% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 27,099 shares of the information technology services provider's stock after buying an additional 8,238 shares during the quarter. Edgestream Partners L.P.'s holdings in CDW were worth $4,716,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Allworth Financial LP raised its position in CDW by 39.7% during the fourth quarter. Allworth Financial LP now owns 183 shares of the information technology services provider's stock valued at $32,000 after purchasing an additional 52 shares in the last quarter. Parkside Financial Bank & Trust lifted its holdings in shares of CDW by 38.9% in the fourth quarter. Parkside Financial Bank & Trust now owns 207 shares of the information technology services provider's stock worth $36,000 after acquiring an additional 58 shares during the last quarter. Ashton Thomas Securities LLC bought a new position in CDW in the 3rd quarter valued at approximately $43,000. Canoe Financial LP boosted its position in CDW by 68.3% in the fourth quarter. Canoe Financial LP now owns 276 shares of the information technology services provider's stock valued at $48,000 after buying an additional 112 shares in the last quarter. Finally, Covestor Ltd grew its stake in shares of CDW by 80.1% during the third quarter. Covestor Ltd now owns 245 shares of the information technology services provider's stock worth $55,000 after buying an additional 109 shares during the last quarter. Institutional investors and hedge funds own 93.15% of the company's stock.

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CDW Trading Up 0.4 %

Shares of CDW stock traded up $0.61 on Wednesday, hitting $166.66. 1,537,816 shares of the company's stock traded hands, compared to its average volume of 1,024,426. The company has a market capitalization of $22.08 billion, a price-to-earnings ratio of 20.91, a price-to-earnings-growth ratio of 3.21 and a beta of 1.01. The company has a fifty day moving average of $185.98 and a two-hundred day moving average of $196.16. 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 Co. has a one year low of $164.82 and a one year high of $263.37.

CDW (NASDAQ:CDW - Get Free Report) last announced its quarterly earnings data on Wednesday, February 5th. The information technology services provider reported $2.40 EPS 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%. As a group, sell-side 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 buyback plan on Wednesday, February 5th that permits the company to repurchase $750.00 million in shares. This repurchase authorization permits the information technology services provider to repurchase up to 2.7% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company's board of directors believes its stock is undervalued.

CDW Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 11th. Shareholders of record on Tuesday, February 25th were paid a $0.625 dividend. This represents a $2.50 annualized dividend and a yield of 1.50%. The ex-dividend date of this dividend was Tuesday, February 25th. CDW's dividend payout ratio (DPR) is currently 31.37%.

Wall Street Analyst Weigh In

CDW has been the subject of a number of recent research reports. Barclays upped 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. Redburn Atlantic began coverage on shares of CDW in a report on Friday, November 15th. They issued a "buy" rating and a $230.00 price objective for the company. Morgan Stanley raised their price target on shares of CDW from $193.00 to $201.00 and gave the company an "equal weight" rating in a research note on Thursday, February 6th. 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 five have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $242.67.

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.