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

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

Several other institutional investors and hedge funds have also bought and sold shares of CDW. Norges Bank bought a new position in shares of CDW during the 4th quarter worth about $144,826,000. Madison Investment Advisors LLC bought a new position in CDW in the fourth quarter worth approximately $130,996,000. Proficio Capital Partners LLC grew its stake in CDW by 18,259.3% in the fourth quarter. Proficio Capital Partners LLC now owns 687,189 shares of the information technology services provider's stock valued at $119,598,000 after acquiring an additional 683,446 shares during the period. Massachusetts Financial Services Co. MA increased its holdings in shares of CDW by 31.3% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,414,093 shares of the information technology services provider's stock valued at $420,149,000 after acquiring an additional 575,333 shares in the last quarter. Finally, Wellington Management Group LLP raised its position in shares of CDW by 29.2% during the fourth quarter. Wellington Management Group LLP now owns 2,538,775 shares of the information technology services provider's stock worth $441,848,000 after purchasing an additional 574,444 shares during the period. 93.15% of the stock is owned by institutional investors.

CDW Stock Performance

Shares of CDW stock traded up $2.70 during trading hours on Friday, hitting $151.47. 1,166,889 shares of the company's stock traded hands, compared to its average volume of 1,170,152. The stock has a market capitalization of $19.96 billion, a price-to-earnings ratio of 19.01, a PEG ratio of 3.21 and a beta of 0.97. CDW Co. has a 12-month low of $137.31 and a 12-month high of $248.12. 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 fifty day simple moving average of $167.67 and a 200-day simple moving average of $183.19.

CDW (NASDAQ:CDW - Get Free Report) last announced its quarterly earnings data 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 anticipate that CDW Co. will post 9.41 EPS for the current fiscal year.

CDW Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 11th. Investors of record on Tuesday, February 25th were paid a $0.625 dividend. This represents a $2.50 dividend on an annualized basis and a yield of 1.65%. The ex-dividend date of this dividend was Tuesday, February 25th. CDW's payout ratio is currently 31.37%.

CDW announced that its Board of Directors has authorized a stock buyback program on Wednesday, February 5th that permits the company to repurchase $750.00 million in outstanding shares. This repurchase authorization permits the information technology services provider to purchase up to 2.7% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company's leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on CDW. Morgan Stanley boosted their price target 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 raised their price target on shares of CDW from $201.00 to $223.00 and gave the company an "equal weight" rating in a research report on Thursday, February 6th. JPMorgan Chase & Co. lowered their price objective on CDW from $222.00 to $175.00 and set a "neutral" rating for the company in a research note on Thursday. UBS Group cut their target price on CDW from $233.00 to $220.00 and set a "buy" rating on the stock in a research report on Tuesday, January 7th. Finally, Citigroup cut their price objective on shares of CDW from $220.00 to $160.00 and set a "neutral" rating on the stock in a report on Monday, April 14th. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, CDW presently has a consensus rating of "Moderate Buy" and an average price target of $217.38.

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.