Los Angeles Capital Management LLC Purchases New Holdings in CDW Co. (NASDAQ:CDW)

Los Angeles Capital Management LLC acquired a new position in CDW Co. (NASDAQ:CDW) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 10,946 shares of the information technology services provider’s stock, valued at approximately $2,488,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Raymond James Financial Services Advisors Inc. boosted its stake in CDW by 16.1% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 49,011 shares of the information technology services provider’s stock worth $11,141,000 after purchasing an additional 6,799 shares in the last quarter. Cerity Partners LLC lifted its stake in shares of CDW by 44.9% in the fourth quarter. Cerity Partners LLC now owns 14,553 shares of the information technology services provider’s stock worth $3,308,000 after buying an additional 4,511 shares in the last quarter. Pacer Advisors Inc. grew its holdings in shares of CDW by 84.9% during the fourth quarter. Pacer Advisors Inc. now owns 15,924 shares of the information technology services provider’s stock valued at $3,620,000 after buying an additional 7,310 shares during the last quarter. JGP Wealth Management LLC bought a new stake in shares of CDW during the fourth quarter valued at approximately $1,559,000. Finally, California Public Employees Retirement System raised its holdings in CDW by 1.0% in the 3rd quarter. California Public Employees Retirement System now owns 819,011 shares of the information technology services provider’s stock worth $165,244,000 after acquiring an additional 7,854 shares during the last quarter. Institutional investors own 93.15% of the company’s stock.

CDW Price Performance

CDW opened at $221.82 on Tuesday. The business has a fifty day moving average of $245.18 and a 200 day moving average of $229.60. The stock has a market cap of $29.81 billion, a P/E ratio of 27.69, a PEG ratio of 3.16 and a beta of 1.09. The company has a quick ratio of 1.13, a current ratio of 1.26 and a debt-to-equity ratio of 2.35. CDW Co. has a 52-week low of $164.62 and a 52-week high of $263.37.

CDW (NASDAQ:CDW) last announced its quarterly earnings data on Wednesday, February 7th. The information technology services provider reported $2.57 earnings per share for the quarter, beating analysts’ consensus estimates of $2.56 by $0.01. The company had revenue of $5.02 billion during the quarter, compared to analyst estimates of $5.32 billion. CDW had a net margin of 5.16% and a return on equity of 67.56%. The firm’s revenue for the quarter was down 7.7% on a year-over-year basis. During the same quarter last year, the business posted $2.40 EPS. As a group, sell-side analysts anticipate that CDW Co. will post 9.89 EPS for the current year.

CDW Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 11th. Investors of record on Friday, May 24th will be paid a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a yield of 1.12%. The ex-dividend date of this dividend is Thursday, May 23rd. CDW’s dividend payout ratio (DPR) is presently 30.96%.

CDW declared that its Board of Directors has approved a share repurchase program on Wednesday, February 7th that allows the company to repurchase $750.00 million in shares. This repurchase authorization allows the information technology services provider to reacquire up to 2.4% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s leadership believes its stock is undervalued.

Analyst Ratings Changes

A number of brokerages have recently issued reports on CDW. Barclays dropped their price target on shares of CDW from $261.00 to $232.00 and set an “equal weight” rating on the stock in a report on Thursday, May 2nd. JPMorgan Chase & Co. dropped their price target on CDW from $280.00 to $265.00 and set an “overweight” rating on the stock in a research note on Thursday, May 2nd. Evercore ISI increased their target price on CDW from $250.00 to $300.00 and gave the company an “outperform” rating in a report on Friday, March 22nd. Stifel Nicolaus reduced their price target on shares of CDW from $265.00 to $250.00 and set a “buy” rating for the company in a research report on Thursday, May 2nd. Finally, Citigroup cut their price target on CDW from $295.00 to $260.00 and set a “buy” rating for the company in a report on Thursday, May 2nd. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $247.50.

CDW Company Profile

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.