Two Creeks Capital Management LP Purchases New Shares in CDW Co. (NASDAQ:CDW)

Two Creeks Capital Management LP bought a new stake in CDW Co. (NASDAQ:CDW - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 139,559 shares of the information technology services provider's stock, valued at approximately $24,289,000. CDW comprises about 1.5% of Two Creeks Capital Management LP's investment portfolio, making the stock its 22nd biggest position. Two Creeks Capital Management LP owned approximately 0.10% of CDW at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the stock. Allworth Financial LP raised its holdings in shares of 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 acquiring an additional 52 shares during the period. Summit Trail Advisors LLC increased its stake in shares of CDW by 1.4% during the fourth quarter. Summit Trail Advisors LLC now owns 4,040 shares of the information technology services provider's stock worth $703,000 after purchasing an additional 56 shares during the period. Parkside Financial Bank & Trust boosted its holdings in CDW by 38.9% in the 4th quarter. Parkside Financial Bank & Trust now owns 207 shares of the information technology services provider's stock valued at $36,000 after purchasing an additional 58 shares during the period. Fulcrum Equity Management lifted its position in shares of CDW by 4.3% during the 3rd quarter. Fulcrum Equity Management now owns 1,442 shares of the information technology services provider's stock valued at $326,000 after acquiring an additional 60 shares during the period. Finally, Jacobi Capital Management LLC boosted its position in shares of 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 acquiring an additional 61 shares in the last quarter. 93.15% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on CDW. Morgan Stanley boosted their price objective on CDW from $193.00 to $201.00 and gave the stock an "equal weight" rating in a research report on Thursday, February 6th. UBS Group lowered 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. 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. JPMorgan Chase & Co. decreased their price target on shares of CDW from $222.00 to $175.00 and set a "neutral" rating for the company in a research note on Thursday, April 17th. Finally, Barclays upped their price objective on CDW from $201.00 to $223.00 and gave the company an "equal weight" rating in a research note on Thursday, February 6th. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $217.38.

CDW Stock Up 2.4 %

CDW opened at $152.03 on Wednesday. CDW Co. has a 12 month low of $137.31 and a 12 month high of $248.12. The company has a 50 day moving average of $166.14 and a 200 day moving average of $182.47. The company has a current ratio of 1.35, a quick ratio of 1.24 and a debt-to-equity ratio of 2.38. The company has a market cap of $20.03 billion, a PE ratio of 19.08, a price-to-earnings-growth ratio of 3.21 and a beta of 0.97.

CDW (NASDAQ:CDW - Get Free Report) last issued its quarterly 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%. On average, sell-side analysts expect that CDW Co. will post 9.41 EPS for the current year.

CDW Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 11th. Investors of record on Tuesday, February 25th were given a $0.625 dividend. This represents a $2.50 dividend on an annualized basis and a yield of 1.64%. The ex-dividend date of this dividend was Tuesday, February 25th. CDW's payout ratio is presently 31.37%.

CDW announced that its Board of Directors has authorized a stock buyback plan on Wednesday, February 5th that authorizes the company to repurchase $750.00 million in shares. This repurchase authorization authorizes the information technology services provider to reacquire up to 2.7% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's board believes its stock is undervalued.

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.

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