Signaturefd LLC Boosts Stock Position in CDW Co. (NASDAQ:CDW)

Signaturefd LLC raised its stake in CDW Co. (NASDAQ:CDW) by 2.7% during the 4th quarter, Holdings Channel.com reports. The firm owned 2,706 shares of the information technology services provider’s stock after buying an additional 72 shares during the quarter. Signaturefd LLC’s holdings in CDW were worth $471,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Allworth Financial LP grew its stake in CDW by 39.7% in the fourth quarter. Allworth Financial LP now owns 183 shares of the information technology services provider’s stock valued at $32,000 after purchasing an additional 52 shares during the last quarter. OFI Invest Asset Management acquired a new stake in CDW in the fourth quarter worth about $32,000. Parkside Financial Bank & Trust boosted its holdings in CDW by 38.9% in the fourth quarter. Parkside Financial Bank & Trust now owns 207 shares of the information technology services provider’s stock worth $36,000 after acquiring an additional 58 shares in the last quarter. Canoe Financial LP boosted its holdings in CDW by 68.3% in the fourth quarter. Canoe Financial LP now owns 276 shares of the information technology services provider’s stock worth $48,000 after acquiring an additional 112 shares in the last quarter. Finally, ORG Wealth Partners LLC acquired a new stake in CDW in the fourth quarter worth about $69,000. Hedge funds and other institutional investors own 93.15% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on CDW. Barclays raised their price target on CDW from $201.00 to $223.00 and gave the stock an “equal weight” rating in a report on Thursday, February 6th. Morgan Stanley raised their price target on CDW from $193.00 to $201.00 and gave the stock an “equal weight” rating in a report on Thursday, February 6th. Finally, UBS Group decreased their target price on CDW from $233.00 to $220.00 and set a “buy” rating for the company in a report on Tuesday, January 7th. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, CDW currently has a consensus rating of “Moderate Buy” and a consensus target price of $242.67.

CDW Stock Down 2.7 %

Shares of CDW stock opened at $168.09 on Friday. The stock has a 50 day moving average of $184.75 and a 200 day moving average of $193.78. 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 stock has a market cap of $22.27 billion, a P/E ratio of 21.09, a P/E/G ratio of 3.21 and a beta of 1.01. CDW Co. has a twelve month low of $162.84 and a twelve month high of $263.37.

CDW (NASDAQ:CDW) last announced its quarterly earnings results on Wednesday, February 5th. The information technology services provider reported $2.40 earnings per share 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%. As a group, sell-side analysts expect that CDW Co. will post 9.41 EPS for the current year.

CDW Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 11th. Investors of record on Tuesday, February 25th were given a dividend of $0.625 per share. This represents a $2.50 annualized dividend and a yield of 1.49%. The ex-dividend date was Tuesday, February 25th. CDW’s dividend payout ratio is currently 31.37%.

CDW announced that its board has approved a share buyback plan on Wednesday, February 5th that allows the company to repurchase $750.00 million in shares. This repurchase authorization allows the information technology services provider to repurchase up to 2.7% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors 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.