CDW Co. (NASDAQ:CDW) Stock Position Raised by National Bank of Canada FI

National Bank of Canada FI increased its position in CDW Co. (NASDAQ:CDW - Free Report) by 137.6% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 192,726 shares of the information technology services provider's stock after purchasing an additional 111,610 shares during the period. National Bank of Canada FI owned 0.14% of CDW worth $33,542,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. Allworth Financial LP raised its holdings in shares of CDW by 39.7% during the fourth quarter. Allworth Financial LP now owns 183 shares of the information technology services provider's stock worth $32,000 after purchasing an additional 52 shares during the period. OFI Invest Asset Management bought a new stake in shares of CDW during the 4th quarter valued at about $32,000. Parkside Financial Bank & Trust raised its stake in CDW by 38.9% during 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 period. Canoe Financial LP lifted its holdings 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 acquiring an additional 112 shares during the last quarter. Finally, ORG Wealth Partners LLC acquired a new position in CDW in the fourth quarter valued at approximately $69,000. 93.15% of the stock is currently owned by institutional investors and hedge funds.

CDW Price Performance

Shares of CDW stock traded down $1.26 on Monday, hitting $143.24. The company had a trading volume of 1,291,508 shares, compared to its average volume of 1,120,730. CDW Co. has a 52 week low of $137.74 and a 52 week high of $257.33. 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 company has a market cap of $18.98 billion, a PE ratio of 17.84, a PEG ratio of 3.21 and a beta of 0.97. The business has a 50-day simple moving average of $178.71 and a 200-day simple moving average of $189.07.

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CDW (NASDAQ:CDW - Get Free Report) last issued its quarterly 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 return on equity of 55.42% and a net margin of 5.13%. Research analysts expect that CDW Co. will post 9.41 EPS for the current fiscal year.

CDW declared that its Board of Directors has initiated a stock buyback program on Wednesday, February 5th that allows the company to repurchase $750.00 million in outstanding shares. This repurchase authorization allows the information technology services provider to buy up to 2.7% of its shares through open market purchases. Shares repurchase programs are generally 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 was paid on Tuesday, March 11th. Shareholders of record on Tuesday, February 25th were given a $0.625 dividend. This represents a $2.50 annualized dividend and a yield of 1.75%. The ex-dividend date was Tuesday, February 25th. CDW's dividend payout ratio (DPR) is presently 31.37%.

Analyst Ratings Changes

CDW has been the subject of a number of analyst reports. UBS Group reduced their price objective on CDW from $233.00 to $220.00 and set a "buy" rating for the company in a research report on Tuesday, January 7th. Morgan Stanley upped their price target on shares of CDW from $193.00 to $201.00 and gave the stock an "equal weight" rating in a research report on Thursday, February 6th. Finally, Barclays upped their target price on shares of CDW from $201.00 to $223.00 and gave the stock an "equal weight" rating in a research report on Thursday, February 6th. Four investment 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, the stock has an average rating of "Moderate Buy" and a consensus target price of $235.50.

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.