Entropy Technologies LP Acquires 44,224 Shares of CDW Co. (NASDAQ:CDW)

Entropy Technologies LP grew its stake in shares of CDW Co. (NASDAQ:CDW - Free Report) by 1,168.1% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 48,010 shares of the information technology services provider's stock after buying an additional 44,224 shares during the period. CDW accounts for approximately 0.9% of Entropy Technologies LP's holdings, making the stock its 9th biggest holding. Entropy Technologies LP's holdings in CDW were worth $8,356,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Oddo BHF Asset Management Sas purchased a new stake in CDW during the third quarter worth approximately $1,629,000. Assenagon Asset Management S.A. raised its position in CDW by 7,549.9% in the fourth quarter. Assenagon Asset Management S.A. now owns 256,271 shares of the information technology services provider's stock valued at $44,601,000 after purchasing an additional 252,921 shares during the period. Franklin Resources Inc. lifted its stake in shares of CDW by 3.4% during the third quarter. Franklin Resources Inc. now owns 108,009 shares of the information technology services provider's stock worth $24,138,000 after purchasing an additional 3,567 shares in the last quarter. Czech National Bank boosted its holdings in CDW by 6.2% in the 4th quarter. Czech National Bank now owns 28,895 shares of the information technology services provider's stock worth $5,029,000 after acquiring an additional 1,685 shares during the period. Finally, United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund acquired a new stake in CDW in the third quarter valued at approximately $12,761,000. 93.15% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CDW has been the subject of a number of recent analyst reports. Barclays raised their price target 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. Redburn Atlantic assumed coverage on CDW in a research note on Friday, November 15th. They set a "buy" rating and a $230.00 target price for the company. UBS Group cut their price target on CDW from $233.00 to $220.00 and set a "buy" rating on the stock in a research note on Tuesday, January 7th. Morgan Stanley raised their price objective on CDW from $193.00 to $201.00 and gave the company an "equal weight" rating in a research note on Thursday, February 6th. Finally, JPMorgan Chase & Co. lowered CDW from an "overweight" rating to a "neutral" rating and cut their target price for the company from $260.00 to $235.00 in a research report on Monday, October 28th. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $242.67.

CDW Stock Performance

NASDAQ:CDW traded down $2.80 during midday trading on Wednesday, reaching $188.94. 884,248 shares of the company traded hands, compared to its average volume of 1,423,070. The company has a debt-to-equity ratio of 2.38, a current ratio of 1.35 and a quick ratio of 1.28. The firm has a market capitalization of $25.18 billion, a price-to-earnings ratio of 23.71, a price-to-earnings-growth ratio of 5.40 and a beta of 1.01. CDW Co. has a twelve month low of $168.43 and a twelve month high of $263.37. The company has a fifty day moving average price of $184.54 and a 200 day moving average price of $201.35.

CDW (NASDAQ:CDW - Get Free Report) last posted 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 net margin of 5.13% and a return on equity of 55.42%. On average, analysts expect that CDW Co. will post 9.35 EPS for the current fiscal year.

CDW declared that its board has initiated 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 repurchase up to 2.7% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's board of directors believes its stock is undervalued.

CDW Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 11th. Stockholders of record on Tuesday, February 25th will be issued a dividend of $0.625 per share. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.32%. The ex-dividend date is Tuesday, February 25th. CDW's dividend payout ratio (DPR) is 31.37%.

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.