Geode Capital Management LLC Purchases 54,341 Shares of CDW Co. (NASDAQ:CDW)

Geode Capital Management LLC grew its holdings in shares of CDW Co. (NASDAQ:CDW - Free Report) by 1.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,535,405 shares of the information technology services provider's stock after acquiring an additional 54,341 shares during the quarter. Geode Capital Management LLC owned 2.65% of CDW worth $614,220,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in CDW. Allworth Financial LP boosted its holdings in shares of CDW by 39.7% during the 4th 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 in the last quarter. OFI Invest Asset Management acquired a new stake in shares of CDW during the fourth quarter valued at about $32,000. Parkside Financial Bank & Trust boosted its stake in shares of CDW by 38.9% during the fourth quarter. Parkside Financial Bank & Trust now owns 207 shares of the information technology services provider's stock valued at $36,000 after purchasing an additional 58 shares in the last quarter. Canoe Financial LP grew its holdings in shares of CDW by 68.3% during the fourth quarter. Canoe Financial LP now owns 276 shares of the information technology services provider's stock worth $48,000 after purchasing an additional 112 shares during the last quarter. Finally, ORG Wealth Partners LLC acquired a new position in shares of CDW in the fourth quarter valued at approximately $69,000. Institutional investors own 93.15% of the company's stock.

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Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on CDW shares. Barclays boosted their target price on shares of CDW from $201.00 to $223.00 and gave the stock an "equal weight" rating in a report on Thursday, February 6th. Morgan Stanley boosted their price objective on shares of CDW from $193.00 to $201.00 and gave the stock an "equal weight" rating in a research note on Thursday, February 6th. Finally, UBS Group lowered 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. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $235.50.

CDW Trading Up 9.2 %

Shares of CDW traded up $13.45 during trading hours on Wednesday, hitting $159.48. 3,086,357 shares of the stock were exchanged, compared to its average volume of 1,147,288. The firm has a market capitalization of $21.13 billion, a P/E ratio of 20.01, a price-to-earnings-growth ratio of 3.21 and a beta of 0.97. 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 fifty-two week low of $137.31 and a fifty-two week high of $250.42. The business has a 50-day moving average of $174.25 and a 200-day moving average of $187.01.

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 for the quarter, topping the consensus estimate of $2.33 by $0.07. CDW had a return on equity of 55.42% and a net margin of 5.13%. On average, research analysts expect that CDW Co. will post 9.41 EPS for the current year.

CDW Dividend Announcement

The firm 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 1.57%. The ex-dividend date was Tuesday, February 25th. CDW's dividend payout ratio (DPR) is presently 31.37%.

CDW announced that its Board of Directors has approved a stock repurchase program 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 buy up to 2.7% of its shares through open market purchases. Shares buyback programs are often an indication that the company's leadership believes its stock is undervalued.

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.