Stevens Capital Management LP purchased a new stake in CDW Co. (NASDAQ:CDW - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 5,003 shares of the information technology services provider's stock, valued at approximately $871,000.
Several other institutional investors and hedge funds also recently made changes to their positions in CDW. Allworth Financial LP raised its stake in 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 buying an additional 52 shares during the last quarter. Summit Trail Advisors LLC lifted its stake in CDW by 1.4% in the fourth quarter. Summit Trail Advisors LLC now owns 4,040 shares of the information technology services provider's stock valued at $703,000 after buying an additional 56 shares during the period. Parkside Financial Bank & Trust grew its position in shares of CDW by 38.9% during the 4th quarter. Parkside Financial Bank & Trust now owns 207 shares of the information technology services provider's stock worth $36,000 after buying an additional 58 shares during the period. Fulcrum Equity Management raised its holdings in shares of CDW by 4.3% during the third quarter. Fulcrum Equity Management now owns 1,442 shares of the information technology services provider's stock valued at $326,000 after purchasing an additional 60 shares during the period. Finally, Jacobi Capital Management LLC raised its stake in CDW by 4.5% during the 4th quarter. Jacobi Capital Management LLC now owns 1,428 shares of the information technology services provider's stock worth $248,000 after buying an additional 61 shares during the period. Institutional investors and hedge funds own 93.15% of the company's stock.
Wall Street Analyst Weigh In
A number of brokerages have commented on CDW. 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 note on Tuesday, January 7th. Barclays lifted 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. Finally, Morgan Stanley upped 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. Four equities 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, CDW has an average rating of "Moderate Buy" and an average target price of $235.50.
Check Out Our Latest Stock Analysis on CDW
CDW Stock Down 2.1 %
CDW traded down $3.49 during mid-day trading on Thursday, reaching $163.84. 1,499,622 shares of the stock were exchanged, compared to its average volume of 1,046,602. The company has a 50 day moving average price of $182.94 and a two-hundred day moving average price of $192.05. The stock has a market capitalization of $21.71 billion, a PE ratio of 20.56, 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. CDW Co. has a 1 year low of $161.20 and a 1 year high of $263.37.
CDW (NASDAQ:CDW - Get Free Report) last released its quarterly earnings results on Wednesday, February 5th. The information technology services provider reported $2.40 earnings per share 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%. As a group, research analysts anticipate that CDW Co. will post 9.41 EPS for the current year.
CDW Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 11th. Investors of record on Tuesday, February 25th were given a dividend of $0.625 per share. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.53%. The ex-dividend date was Tuesday, February 25th. CDW's payout ratio is 31.37%.
CDW announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, February 5th that allows the company to buyback $750.00 million in shares. This buyback authorization allows the information technology services provider to purchase up to 2.7% of its shares through open market purchases. Shares buyback plans are often an indication that the company's board of directors believes its stock is 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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