Larson Financial Group LLC Invests $30,000 in CDW Co. (NASDAQ:CDW)

Larson Financial Group LLC acquired a new position in shares of CDW Co. (NASDAQ:CDW) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 133 shares of the information technology services provider’s stock, valued at approximately $30,000.

Several other hedge funds have also added to or reduced their stakes in CDW. The Manufacturers Life Insurance Company raised its stake in CDW by 91.8% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 728,446 shares of the information technology services provider’s stock worth $146,971,000 after buying an additional 348,749 shares during the period. Lazard Asset Management LLC raised its stake in CDW by 459.5% during the 3rd quarter. Lazard Asset Management LLC now owns 252,272 shares of the information technology services provider’s stock worth $50,898,000 after buying an additional 207,184 shares during the period. Royal Bank of Canada raised its stake in shares of CDW by 54.3% in the 3rd quarter. Royal Bank of Canada now owns 561,366 shares of the information technology services provider’s stock valued at $113,261,000 after purchasing an additional 197,479 shares during the period. Assenagon Asset Management S.A. raised its stake in shares of CDW by 1,304.0% in the 3rd quarter. Assenagon Asset Management S.A. now owns 209,667 shares of the information technology services provider’s stock valued at $42,302,000 after purchasing an additional 194,733 shares during the period. Finally, EULAV Asset Management acquired a new stake in shares of CDW in the 3rd quarter valued at about $24,213,000. Institutional investors and hedge funds own 93.15% of the company’s stock.

Analysts Set New Price Targets

Several research firms have issued reports on CDW. Barclays lifted their price target on CDW from $219.00 to $261.00 and gave the company an “equal weight” rating in a research note on Thursday, February 8th. Evercore ISI lifted their price target on CDW from $250.00 to $300.00 and gave the company an “outperform” rating in a research note on Friday, March 22nd. JPMorgan Chase & Co. lifted their price target on CDW from $267.00 to $280.00 and gave the company an “overweight” rating in a research note on Thursday, April 11th. Finally, Citigroup lifted their price target on 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 company’s stock. According to MarketBeat, CDW presently has an average rating of “Moderate Buy” and an average target price of $242.67.

CDW Price Performance

NASDAQ:CDW opened at $242.26 on Friday. The company has a debt-to-equity ratio of 2.46, a quick ratio of 1.11 and a current ratio of 1.23. The stock’s 50-day simple moving average is $247.23 and its 200 day simple moving average is $228.31. The company has a market cap of $32.55 billion, a P/E ratio of 29.91, a P/E/G ratio of 2.73 and a beta of 1.09. CDW Co. has a 52-week low of $162.59 and a 52-week high of $263.37.

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

CDW declared that its Board of Directors has approved a stock repurchase plan on Wednesday, February 7th that permits the company to buyback $750.00 million in shares. This buyback authorization permits the information technology services provider to repurchase up to 2.4% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board of directors believes its shares are undervalued.

CDW Announces Dividend

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 dividend of $0.62 per share. The ex-dividend date of this dividend was Friday, February 23rd. This represents a $2.48 annualized dividend and a yield of 1.02%. CDW’s dividend payout ratio is currently 30.62%.

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.