Bay Capital Advisors LLC Acquires New Position in CDW Co. (NASDAQ:CDW)

Bay Capital Advisors LLC bought a new position in CDW Co. (NASDAQ:CDW) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 1,500 shares of the information technology services provider’s stock, valued at approximately $261,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in CDW. Allworth Financial LP increased its holdings in CDW by 39.7% in the 4th quarter. Allworth Financial LP now owns 183 shares of the information technology services provider’s stock worth $32,000 after buying an additional 52 shares in the last quarter. OFI Invest Asset Management bought a new stake in shares of CDW in the fourth quarter worth approximately $32,000. Parkside Financial Bank & Trust raised its holdings in shares of CDW by 38.9% during the fourth quarter. Parkside Financial Bank & Trust now owns 207 shares of the information technology services provider’s stock valued at $36,000 after purchasing an additional 58 shares during the last quarter. Canoe Financial LP lifted its position in CDW by 68.3% during the fourth quarter. Canoe Financial LP now owns 276 shares of the information technology services provider’s stock valued at $48,000 after purchasing an additional 112 shares during the period. Finally, ORG Wealth Partners LLC purchased a new stake in CDW in the fourth quarter worth approximately $69,000. Institutional investors own 93.15% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on CDW. Morgan Stanley increased their price target on CDW from $193.00 to $201.00 and gave the company an “equal weight” rating in a report on Thursday, February 6th. Barclays increased their target price on CDW from $201.00 to $223.00 and gave the company an “equal weight” rating in a report on Thursday, February 6th. Finally, UBS Group cut their price target on CDW from $233.00 to $220.00 and set a “buy” rating for the company in a research note on Tuesday, January 7th. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $235.50.

CDW Trading Up 2.9 %

CDW stock opened at $170.31 on Tuesday. CDW Co. has a 12-month low of $162.84 and a 12-month high of $263.37. The firm has a market capitalization of $22.56 billion, a price-to-earnings ratio of 21.37, a P/E/G ratio of 3.21 and a beta of 1.01. The firm has a 50 day moving average of $184.19 and a 200 day moving average of $192.73. The company has a current ratio of 1.35, a quick ratio of 1.24 and a debt-to-equity ratio of 2.38.

CDW (NASDAQ:CDW) last announced its quarterly earnings data on Wednesday, February 5th. The information technology services provider reported $2.40 EPS for the quarter, beating the consensus estimate of $2.33 by $0.07. CDW had a net margin of 5.13% and a return on equity of 55.42%. As a group, research analysts predict that CDW Co. will post 9.41 earnings per share for the current year.

CDW announced that its Board of Directors has approved a stock repurchase program on Wednesday, February 5th that authorizes the company to repurchase $750.00 million in outstanding shares. This repurchase authorization authorizes the information technology services provider to reacquire up to 2.7% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s leadership believes its shares are undervalued.

CDW Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 11th. Shareholders of record on Tuesday, February 25th were paid a $0.625 dividend. The ex-dividend date of this dividend was Tuesday, February 25th. This represents a $2.50 annualized dividend and a yield of 1.47%. CDW’s payout ratio is 31.37%.

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.