Janney Montgomery Scott LLC Raises Holdings in CDW Co. (NASDAQ:CDW)

Janney Montgomery Scott LLC grew its stake in CDW Co. (NASDAQ:CDWFree Report) by 1.4% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 38,557 shares of the information technology services provider’s stock after buying an additional 543 shares during the quarter. Janney Montgomery Scott LLC’s holdings in CDW were worth $8,765,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in CDW. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in CDW by 4.9% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,380,123 shares of the information technology services provider’s stock valued at $299,901,000 after buying an additional 64,140 shares in the last quarter. Northern Trust Corp increased its holdings in shares of CDW by 1.6% in the 3rd quarter. Northern Trust Corp now owns 1,331,127 shares of the information technology services provider’s stock valued at $268,568,000 after acquiring an additional 20,345 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its position in shares of CDW by 3.3% during the 3rd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 1,315,983 shares of the information technology services provider’s stock worth $265,513,000 after acquiring an additional 41,472 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in CDW by 3.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,135,792 shares of the information technology services provider’s stock worth $258,196,000 after purchasing an additional 33,235 shares during the last quarter. Finally, Barclays PLC boosted its holdings in CDW by 2.1% in the third quarter. Barclays PLC now owns 1,016,132 shares of the information technology services provider’s stock valued at $205,014,000 after purchasing an additional 20,934 shares in the last quarter. 93.15% of the stock is owned by institutional investors and hedge funds.

CDW Stock Performance

NASDAQ CDW opened at $223.64 on Friday. The firm has a market cap of $30.06 billion, a P/E ratio of 27.92, a P/E/G ratio of 3.29 and a beta of 1.09. CDW Co. has a 52-week low of $167.57 and a 52-week high of $263.37. The business’s 50-day moving average price is $240.85 and its 200 day moving average price is $230.85. 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 Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 11th. Shareholders of record on Friday, May 24th will be paid a $0.62 dividend. The ex-dividend date of this dividend is Thursday, May 23rd. This represents a $2.48 annualized dividend and a dividend yield of 1.11%. CDW’s dividend payout ratio (DPR) is currently 30.96%.

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

Analysts Set New Price Targets

CDW has been the topic of a number of research analyst reports. Citigroup cut their price objective on shares of CDW from $295.00 to $260.00 and set a “buy” rating on the stock in a report on Thursday, May 2nd. JPMorgan Chase & Co. cut their price target on shares of CDW from $280.00 to $265.00 and set an “overweight” rating on the stock in a research note on Thursday, May 2nd. Stifel Nicolaus decreased their price objective on shares of CDW from $265.00 to $250.00 and set a “buy” rating for the company in a research note on Thursday, May 2nd. Evercore ISI lifted their target price on CDW from $250.00 to $300.00 and gave the stock an “outperform” rating in a research report on Friday, March 22nd. Finally, Barclays decreased their target price on CDW from $261.00 to $232.00 and set an “equal weight” rating for the company in a research report on Thursday, May 2nd. Three analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $247.50.

Check Out Our Latest Research Report on CDW

CDW Company Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for CDW (NASDAQ:CDW)

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