SVB Wealth LLC Takes Position in CDW Co. (NASDAQ:CDW)

SVB Wealth LLC purchased a new position in shares of CDW Co. (NASDAQ:CDW - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 41,862 shares of the information technology services provider's stock, valued at approximately $7,286,000.

Other hedge funds have also made changes to their positions in the company. Allworth Financial LP lifted its holdings in CDW by 39.7% during the 4th 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 in the last quarter. Parkside Financial Bank & Trust raised its stake in shares of CDW by 38.9% in the fourth quarter. Parkside Financial Bank & Trust now owns 207 shares of the information technology services provider's stock valued at $36,000 after acquiring an additional 58 shares in the last quarter. Ashton Thomas Securities LLC purchased a new position in CDW in the third quarter valued at $43,000. Canoe Financial LP grew its stake in CDW by 68.3% during the 4th quarter. Canoe Financial LP now owns 276 shares of the information technology services provider's stock worth $48,000 after purchasing an additional 112 shares in the last quarter. Finally, Covestor Ltd increased its holdings in CDW by 80.1% during the 3rd quarter. Covestor Ltd now owns 245 shares of the information technology services provider's stock worth $55,000 after purchasing an additional 109 shares during the period. Institutional investors and hedge funds own 93.15% of the company's stock.

CDW Stock Performance

CDW traded down $1.05 on Tuesday, reaching $171.45. The company had a trading volume of 830,604 shares, compared to its average volume of 1,351,703. The stock has a 50-day moving average price of $186.74 and a 200-day moving average price of $198.47. The stock has a market capitalization of $22.72 billion, a PE ratio of 21.50, a P/E/G ratio of 3.21 and a beta of 1.01. CDW Co. has a 1 year low of $168.43 and a 1 year high of $263.37. The company has a quick ratio of 1.24, a current ratio of 1.35 and a debt-to-equity ratio of 2.38.

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CDW (NASDAQ:CDW - Get Free Report) last announced its 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%. As a group, research analysts forecast that CDW Co. will post 9.41 EPS for the current fiscal year.

CDW announced that its Board of Directors has authorized a stock repurchase program 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 buy up to 2.7% of its stock through open market purchases. Stock buyback programs are usually a sign that the company's board believes its shares are undervalued.

CDW Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 11th. Stockholders of record on Tuesday, February 25th will be issued a $0.625 dividend. The ex-dividend date of this dividend is Tuesday, February 25th. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.46%. CDW's payout ratio is 31.37%.

Analyst Ratings Changes

Several brokerages have recently issued reports on CDW. Morgan Stanley lifted their price objective on CDW from $193.00 to $201.00 and gave the company an "equal weight" rating in a research note on Thursday, February 6th. Redburn Atlantic began coverage on shares of CDW in a report on Friday, November 15th. They set a "buy" rating and a $230.00 price target for the company. UBS Group reduced their price objective on shares of CDW from $233.00 to $220.00 and set a "buy" rating on the stock in a report on Tuesday, January 7th. Finally, Barclays boosted their target price on shares of CDW from $201.00 to $223.00 and gave the stock an "equal weight" rating in a research note on Thursday, February 6th. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $242.67.

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.