Madison Investment Advisors LLC purchased a new stake in CDW Co. (NASDAQ:CDW - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 752,677 shares of the information technology services provider's stock, valued at approximately $130,996,000. CDW makes up 1.5% of Madison Investment Advisors LLC's holdings, making the stock its 13th largest holding. Madison Investment Advisors LLC owned 0.56% of CDW as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CDW. Allworth Financial LP raised its stake in shares of 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. OFI Invest Asset Management bought a new position in shares of CDW in the fourth quarter worth about $32,000. Ashton Thomas Securities LLC bought a new position in shares of CDW in the third quarter worth about $43,000. Parkside Financial Bank & Trust raised its stake 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. Finally, Covestor Ltd raised its stake in shares of 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 acquiring an additional 109 shares during the last quarter. 93.15% of the stock is currently owned by institutional investors and hedge funds.
CDW Stock Up 2.2 %
Shares of CDW stock traded up $3.63 on Monday, hitting $170.63. The company had a trading volume of 1,401,549 shares, compared to its average volume of 1,028,339. The firm has a market capitalization of $22.61 billion, a P/E ratio of 21.41, a P/E/G ratio of 3.21 and a beta of 1.01. CDW Co. has a twelve month low of $162.84 and a twelve month high of $263.37. The company has a debt-to-equity ratio of 2.38, a current ratio of 1.35 and a quick ratio of 1.24. The stock has a 50-day moving average of $185.56 and a 200-day moving average of $194.86.
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%. Research analysts predict that CDW Co. will post 9.41 earnings per share for the current year.
CDW announced that its board has initiated a stock buyback program on Wednesday, February 5th that permits the company to buyback $750.00 million in outstanding shares. This buyback authorization permits the information technology services provider to repurchase up to 2.7% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's management believes its stock is undervalued.
CDW Announces Dividend
The firm 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. This represents a $2.50 annualized dividend and a yield of 1.47%. The ex-dividend date of this dividend was Tuesday, February 25th. CDW's payout ratio is 31.37%.
Wall Street Analyst Weigh In
CDW has been the subject of a number of recent research reports. UBS Group dropped their price target on shares of CDW from $233.00 to $220.00 and set a "buy" rating for the company in a research note on Tuesday, January 7th. Morgan Stanley boosted their price target 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, Barclays boosted their price target on shares of CDW from $201.00 to $223.00 and gave the stock an "equal weight" rating in a research note on Thursday, February 6th. 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.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $242.67.
Get Our Latest Report on CDW
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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