Strategic Financial Concepts LLC Takes $3.15 Million Position in CDW Co. (NASDAQ:CDW)

Strategic Financial Concepts LLC purchased a new position in shares of CDW Co. (NASDAQ:CDW - Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 18,100 shares of the information technology services provider's stock, valued at approximately $3,150,000.

Several other large investors also recently made changes to their positions in CDW. Oddo BHF Asset Management Sas bought a new stake in CDW during the 3rd quarter valued at approximately $1,629,000. Assenagon Asset Management S.A. lifted its position in shares of CDW by 7,549.9% in the 4th quarter. Assenagon Asset Management S.A. now owns 256,271 shares of the information technology services provider's stock worth $44,601,000 after acquiring an additional 252,921 shares during the period. Franklin Resources Inc. lifted its position in shares of CDW by 3.4% in the 3rd quarter. Franklin Resources Inc. now owns 108,009 shares of the information technology services provider's stock worth $24,138,000 after acquiring an additional 3,567 shares during the period. Czech National Bank lifted its position in shares of CDW by 6.2% in the 4th quarter. Czech National Bank now owns 28,895 shares of the information technology services provider's stock worth $5,029,000 after acquiring an additional 1,685 shares during the period. Finally, United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund bought a new stake in shares of CDW in the 3rd quarter worth approximately $12,761,000. Institutional investors own 93.15% of the company's stock.

Wall Street Analyst Weigh In

CDW has been the subject of a number of research reports. Redburn Atlantic initiated coverage on CDW in a research report on Friday, November 15th. They issued a "buy" rating and a $230.00 price objective for the company. Barclays raised their price objective on CDW from $201.00 to $223.00 and gave the stock an "equal weight" rating in a research report on Thursday, February 6th. JPMorgan Chase & Co. downgraded CDW from an "overweight" rating to a "neutral" rating and reduced their price objective for the stock from $260.00 to $235.00 in a research report on Monday, October 28th. Morgan Stanley increased their target price on CDW from $193.00 to $201.00 and gave the stock an "equal weight" rating in a report on Thursday, February 6th. Finally, UBS Group dropped their target price on 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 assigned a buy rating to the stock. According to data from MarketBeat, CDW presently has an average rating of "Moderate Buy" and a consensus target price of $242.67.

CDW Price Performance

CDW stock traded down $1.35 during midday trading on Thursday, reaching $187.59. 1,120,550 shares of the company's stock traded hands, compared to its average volume of 1,412,643. The company has a 50-day simple moving average of $184.72 and a two-hundred day simple moving average of $201.25. CDW Co. has a 1-year low of $168.43 and a 1-year high of $263.37. The company has a market cap of $25.00 billion, a price-to-earnings ratio of 23.54, a PEG ratio of 5.40 and a beta of 1.01. The company has a quick ratio of 1.28, a current ratio of 1.35 and a debt-to-equity ratio of 2.38.

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, 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%. On average, analysts anticipate that CDW Co. will post 9.35 earnings per share for the current year.

CDW announced that its board has authorized a share buyback 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 repurchase up to 2.7% of its shares through open market purchases. Shares buyback plans are often 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 will be paid on Tuesday, March 11th. Investors of record on Tuesday, February 25th will be issued a dividend of $0.625 per share. The ex-dividend date of this dividend is Tuesday, February 25th. This represents a $2.50 dividend on an annualized basis and a yield of 1.33%. CDW's dividend payout ratio is 31.37%.

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.