LPL Financial LLC raised its holdings in CDW Co. (NASDAQ:CDW - Free Report) by 6.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 42,132 shares of the information technology services provider's stock after purchasing an additional 2,503 shares during the period. LPL Financial LLC's holdings in CDW were worth $7,333,000 at the end of the most recent reporting period.
A number of other large investors have also recently bought and sold shares of CDW. Centiva Capital LP acquired a new stake in CDW during the third quarter worth approximately $447,000. IHT Wealth Management LLC lifted its stake in shares of CDW by 16.5% during the 3rd quarter. IHT Wealth Management LLC now owns 1,635 shares of the information technology services provider's stock worth $353,000 after purchasing an additional 231 shares during the period. EP Wealth Advisors LLC boosted its holdings in shares of CDW by 5.1% during the third quarter. EP Wealth Advisors LLC now owns 5,560 shares of the information technology services provider's stock worth $1,258,000 after purchasing an additional 271 shares during the last quarter. National Bank of Canada FI grew its position in shares of CDW by 65.3% in the third quarter. National Bank of Canada FI now owns 81,116 shares of the information technology services provider's stock valued at $18,357,000 after purchasing an additional 32,056 shares during the period. Finally, iSAM Funds UK Ltd purchased a new stake in shares of CDW in the third quarter valued at $327,000. Institutional investors and hedge funds own 93.15% of the company's stock.
Wall Street Analyst Weigh In
A number of brokerages have issued reports on CDW. Morgan Stanley raised their price target on CDW from $193.00 to $201.00 and gave the stock an "equal weight" rating in a research note on Thursday, February 6th. Barclays boosted their target price 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. Finally, UBS Group cut their price target on shares of CDW from $233.00 to $220.00 and set a "buy" rating on the stock in a research note on Tuesday, January 7th. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $235.50.
Get Our Latest Research Report on CDW
CDW Trading Up 1.4 %
CDW stock traded up $2.10 during midday trading on Friday, reaching $148.80. 1,815,288 shares of the company's stock traded hands, compared to its average volume of 1,160,407. CDW Co. has a fifty-two week low of $137.31 and a fifty-two week high of $248.12. The business has a 50-day moving average price of $172.21 and a two-hundred day moving average price of $185.97. The company has a market capitalization of $19.71 billion, a P/E ratio of 18.67, a PEG 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 (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 for the quarter, beating 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%. Equities research analysts forecast that CDW Co. will post 9.41 EPS for the current fiscal year.
CDW Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Tuesday, March 11th. Investors of record on Tuesday, February 25th were issued a dividend of $0.625 per share. The ex-dividend date was Tuesday, February 25th. This represents a $2.50 annualized dividend and a dividend yield of 1.68%. CDW's payout ratio is currently 31.37%.
CDW announced that its Board of Directors has initiated 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 reacquire up to 2.7% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company's leadership believes its shares are undervalued.
About CDW
(
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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