Kendall Capital Management Raises Position in CDW Co. (NASDAQ:CDW)

Kendall Capital Management lifted its position in shares of CDW Co. (NASDAQ:CDW - Free Report) by 12.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 28,555 shares of the information technology services provider's stock after buying an additional 3,093 shares during the period. CDW makes up about 1.5% of Kendall Capital Management's holdings, making the stock its 16th biggest holding. Kendall Capital Management's holdings in CDW were worth $4,970,000 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 CDW. Allworth Financial LP lifted its holdings in CDW by 39.7% in the fourth quarter. Allworth Financial LP now owns 183 shares of the information technology services provider's stock worth $32,000 after acquiring an additional 52 shares during the last quarter. Parkside Financial Bank & Trust increased 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 acquiring an additional 58 shares during the period. Ashton Thomas Securities LLC acquired a new position in CDW in the third quarter worth approximately $43,000. Canoe Financial LP grew 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 worth $48,000 after buying an additional 112 shares during the last quarter. Finally, Covestor Ltd grew its position in CDW by 80.1% in 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. 93.15% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Morgan Stanley lifted their target price 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. Barclays lifted 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. Redburn Atlantic initiated coverage on shares of CDW in a report on Friday, November 15th. They issued a "buy" rating and a $230.00 target price on the stock. Finally, UBS Group dropped their price objective on shares of CDW from $233.00 to $220.00 and set a "buy" rating on the stock 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. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $242.67.

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CDW Stock Up 0.7 %

Shares of NASDAQ:CDW opened at $168.37 on Friday. The company has a 50 day moving average price of $186.22 and a two-hundred day moving average price of $197.19. The company has a debt-to-equity ratio of 2.38, a quick ratio of 1.24 and a current ratio of 1.35. CDW Co. has a 52 week low of $164.98 and a 52 week high of $263.37. The company has a market capitalization of $22.31 billion, a PE ratio of 21.13, a PEG ratio of 3.21 and a beta of 1.01.

CDW (NASDAQ:CDW - Get Free Report) last announced its earnings results 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%. Analysts forecast that CDW Co. will post 9.41 earnings per share for the current year.

CDW Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 11th. Shareholders of record on Tuesday, February 25th will be paid a $0.625 dividend. This represents a $2.50 annualized dividend and a yield of 1.48%. The ex-dividend date of this dividend is Tuesday, February 25th. CDW's dividend payout ratio (DPR) is 31.37%.

CDW declared that its board has initiated a share buyback 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 repurchase up to 2.7% of its stock through open market purchases. Stock buyback programs are often an indication that the company's board of directors believes its shares are undervalued.

CDW Profile

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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