CDW Co. (NASDAQ:CDW) Shares Acquired by Signaturefd LLC

Signaturefd LLC lifted its stake in shares of CDW Co. (NASDAQ:CDW) by 4.2% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,727 shares of the information technology services provider’s stock after purchasing an additional 111 shares during the quarter. Signaturefd LLC’s holdings in CDW were worth $620,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Scotia Capital Inc. boosted its position in shares of CDW by 1.5% in the 3rd quarter. Scotia Capital Inc. now owns 3,495 shares of the information technology services provider’s stock worth $705,000 after buying an additional 50 shares in the last quarter. Diversified Trust Co lifted its holdings in CDW by 4.6% in the 4th quarter. Diversified Trust Co now owns 1,157 shares of the information technology services provider’s stock valued at $263,000 after purchasing an additional 51 shares in the last quarter. Phoenix Holdings Ltd. lifted its holdings in CDW by 4.3% in the 3rd quarter. Phoenix Holdings Ltd. now owns 1,262 shares of the information technology services provider’s stock valued at $257,000 after purchasing an additional 52 shares in the last quarter. Fidelis Capital Partners LLC lifted its holdings in CDW by 4.5% in the 4th quarter. Fidelis Capital Partners LLC now owns 1,229 shares of the information technology services provider’s stock valued at $279,000 after purchasing an additional 53 shares in the last quarter. Finally, Ballentine Partners LLC lifted its holdings in CDW by 1.1% in the 3rd quarter. Ballentine Partners LLC now owns 4,911 shares of the information technology services provider’s stock valued at $991,000 after purchasing an additional 54 shares in the last quarter. 93.15% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CDW has been the topic of a number of recent research reports. JPMorgan Chase & Co. upped their target price on shares of CDW from $267.00 to $280.00 and gave the company an “overweight” rating in a report on Thursday, April 11th. Evercore ISI upped their target price on shares of CDW from $250.00 to $300.00 and gave the company an “outperform” rating in a report on Friday, March 22nd. Barclays upped their target price on shares of CDW from $219.00 to $261.00 and gave the company an “equal weight” rating in a report on Thursday, February 8th. Finally, Citigroup upped their price objective on shares of CDW from $255.00 to $295.00 and gave the company a “buy” rating in a research note on Thursday, April 4th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $242.67.

CDW Stock Up 1.2 %

CDW opened at $240.47 on Wednesday. The firm has a 50 day moving average price of $247.13 and a 200 day moving average price of $227.87. The company has a market cap of $32.31 billion, a PE ratio of 29.69, a price-to-earnings-growth ratio of 2.67 and a beta of 1.09. CDW Co. has a 1 year low of $162.59 and a 1 year high of $263.37. The company has a debt-to-equity ratio of 2.46, a quick ratio of 1.11 and a current ratio of 1.23.

CDW (NASDAQ:CDW) last issued its quarterly earnings data on Wednesday, February 7th. The information technology services provider reported $2.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.56 by $0.01. CDW had a net margin of 5.17% and a return on equity of 73.93%. The company had revenue of $5.02 billion during the quarter, compared to the consensus estimate of $5.32 billion. During the same quarter last year, the company earned $2.40 earnings per share. CDW’s revenue for the quarter was down 7.7% on a year-over-year basis. Sell-side analysts expect that CDW Co. will post 9.89 earnings per share for the current year.

CDW Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 12th. Shareholders of record on Monday, February 26th were given a $0.62 dividend. This represents a $2.48 annualized dividend and a yield of 1.03%. The ex-dividend date was Friday, February 23rd. CDW’s dividend payout ratio (DPR) is 30.62%.

CDW announced that its Board of Directors has initiated a stock buyback plan on Wednesday, February 7th that permits the company to repurchase $750.00 million in shares. This repurchase authorization permits the information technology services provider to reacquire up to 2.4% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s leadership believes its shares are 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.