Raymond James Financial Inc. Purchases New Position in CDW Co. (NASDAQ:CDW)

Raymond James Financial Inc. purchased a new stake in CDW Co. (NASDAQ:CDW - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 156,531 shares of the information technology services provider's stock, valued at approximately $27,243,000. Raymond James Financial Inc. owned 0.12% of CDW as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently bought and sold shares of CDW. Oddo BHF Asset Management Sas purchased a new stake in shares of CDW during the third quarter valued at approximately $1,629,000. Assenagon Asset Management S.A. raised its stake in shares of CDW by 7,549.9% during the fourth quarter. Assenagon Asset Management S.A. now owns 256,271 shares of the information technology services provider's stock valued at $44,601,000 after purchasing an additional 252,921 shares during the period. Franklin Resources Inc. increased its stake in shares of CDW by 3.4% in the third quarter. Franklin Resources Inc. now owns 108,009 shares of the information technology services provider's stock worth $24,138,000 after buying an additional 3,567 shares during the last quarter. Graphene Investments SAS increased its stake in shares of CDW by 17.6% in the fourth quarter. Graphene Investments SAS now owns 17,400 shares of the information technology services provider's stock worth $3,028,000 after buying an additional 2,600 shares during the last quarter. Finally, Czech National Bank increased its stake in shares of CDW by 6.2% in the fourth quarter. Czech National Bank now owns 28,895 shares of the information technology services provider's stock worth $5,029,000 after buying an additional 1,685 shares during the last quarter. Hedge funds and other institutional investors own 93.15% of the company's stock.

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CDW Stock Performance

Shares of CDW traded up $0.13 during midday trading on Tuesday, hitting $170.76. 947,665 shares of the stock traded hands, compared to its average volume of 1,027,569. CDW Co. has a 1-year low of $162.84 and a 1-year high of $263.37. The firm has a market capitalization of $22.62 billion, a PE ratio of 21.43, a price-to-earnings-growth ratio of 3.21 and a beta of 1.01. The company has a debt-to-equity ratio of 2.38, a quick ratio of 1.24 and a current ratio of 1.35. The business's 50 day moving average price is $185.39 and its two-hundred day moving average price is $194.50.

CDW (NASDAQ:CDW - Get Free Report) last issued its quarterly 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%. Equities research analysts predict that CDW Co. will post 9.41 EPS for the current fiscal year.

CDW declared that its board has authorized a stock buyback plan on Wednesday, February 5th that allows the company to buyback $750.00 million in outstanding shares. This buyback authorization allows the information technology services provider to reacquire up to 2.7% of its shares through open market purchases. Shares buyback plans are generally an indication that the company's board of directors believes its stock is undervalued.

CDW Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 11th. Shareholders of record on Tuesday, February 25th were paid a dividend of $0.625 per share. The ex-dividend date was Tuesday, February 25th. This represents a $2.50 annualized dividend and a yield of 1.46%. CDW's dividend payout ratio (DPR) is presently 31.37%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on CDW shares. Morgan Stanley lifted their price objective on shares of CDW from $193.00 to $201.00 and gave the stock an "equal weight" rating in a report on Thursday, February 6th. Barclays lifted their price objective 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. Finally, UBS Group decreased their price objective on shares of CDW from $233.00 to $220.00 and set a "buy" rating for the company in a report on Tuesday, January 7th. Four analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, CDW presently has a consensus rating of "Moderate Buy" and a consensus price target of $242.67.

CDW Company 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.