LPL Financial LLC Has $7.33 Million Position in CDW Co. (NASDAQ:CDW)

LPL Financial LLC raised its holdings in CDW Co. (NASDAQ:CDW) by 6.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 42,132 shares of the information technology services provider’s stock after acquiring an additional 2,503 shares during the quarter. LPL Financial LLC’s holdings in CDW were worth $7,333,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in CDW. Allworth Financial LP boosted its stake in shares of CDW by 39.7% during the 4th 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 in the last quarter. Summit Trail Advisors LLC grew its position in shares of CDW by 1.4% in the fourth quarter. Summit Trail Advisors LLC now owns 4,040 shares of the information technology services provider’s stock valued at $703,000 after purchasing an additional 56 shares during the last quarter. Parkside Financial Bank & Trust grew 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 buying an additional 58 shares during the last quarter. Fulcrum Equity Management grew its position in CDW by 4.3% in the 3rd quarter. Fulcrum Equity Management now owns 1,442 shares of the information technology services provider’s stock worth $326,000 after purchasing an additional 60 shares during the last quarter. Finally, Jacobi Capital Management LLC increased its stake in CDW by 4.5% during the fourth quarter. Jacobi Capital Management LLC now owns 1,428 shares of the information technology services provider’s stock valued at $248,000 after acquiring an additional 61 shares during the period. 93.15% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CDW has been the subject of a number of recent research reports. Morgan Stanley increased their price objective on shares of CDW from $193.00 to $201.00 and gave the company an “equal weight” rating in a research note on Thursday, February 6th. UBS Group lowered their price objective on CDW from $233.00 to $220.00 and set a “buy” rating on the stock in a research note on Tuesday, January 7th. Finally, Barclays lifted their price target on shares of CDW from $201.00 to $223.00 and gave the company an “equal weight” rating in a report on Thursday, February 6th. Four analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $235.50.

CDW Price Performance

Shares of CDW stock opened at $144.49 on Monday. CDW Co. has a 1 year low of $141.80 and a 1 year high of $257.33. 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 firm’s 50 day moving average is $178.71 and its 200-day moving average is $189.07. The firm has a market capitalization of $19.14 billion, a price-to-earnings ratio of 18.13, a PEG ratio of 3.21 and a beta of 0.97.

CDW (NASDAQ:CDW) 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 the consensus estimate of $2.33 by $0.07. CDW had a return on equity of 55.42% and a net margin of 5.13%. Sell-side analysts forecast that CDW Co. will post 9.41 EPS for the current fiscal year.

CDW Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 11th. Investors of record on Tuesday, February 25th were issued a $0.625 dividend. The ex-dividend date was Tuesday, February 25th. This represents a $2.50 annualized dividend and a yield of 1.73%. CDW’s dividend payout ratio is currently 31.37%.

CDW declared that its Board of Directors has initiated a share buyback program on Wednesday, February 5th that authorizes the company to buyback $750.00 million in outstanding shares. This buyback authorization authorizes the information technology services provider to buy up to 2.7% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its shares are undervalued.

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.