United Bank Buys 1,488 Shares of CDW Co. (NASDAQ:CDW)

United Bank grew its stake in shares of CDW Co. (NASDAQ:CDW) by 33.7% during the fourth quarter, Holdings Channel reports. The institutional investor owned 5,909 shares of the information technology services provider’s stock after buying an additional 1,488 shares during the period. United Bank’s holdings in CDW were worth $1,028,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Allworth Financial LP lifted its holdings in CDW by 39.7% during 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 in the last quarter. OFI Invest Asset Management bought a new stake in shares of CDW during the 4th quarter valued at $32,000. Parkside Financial Bank & Trust lifted its stake in shares of CDW by 38.9% during 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 in the last quarter. Canoe Financial LP boosted its holdings in CDW by 68.3% in the 4th quarter. Canoe Financial LP now owns 276 shares of the information technology services provider’s stock worth $48,000 after buying an additional 112 shares during the period. Finally, ORG Wealth Partners LLC purchased a new stake in CDW in the 4th quarter worth $69,000. 93.15% of the stock is currently owned by institutional investors.

CDW Trading Down 1.4 %

CDW stock opened at $161.51 on Friday. The firm has a market cap of $21.40 billion, a PE ratio of 20.26, a price-to-earnings-growth ratio of 3.21 and a beta of 1.01. The firm has a fifty day moving average price of $182.40 and a 200 day moving average price of $191.51. The company has a debt-to-equity ratio of 2.38, a quick ratio of 1.24 and a current ratio of 1.35. CDW Co. has a fifty-two week low of $160.96 and a fifty-two week high of $263.37.

CDW (NASDAQ:CDW) last posted its earnings results on Wednesday, February 5th. The information technology services provider reported $2.40 earnings per share for the quarter, topping analysts’ consensus estimates of $2.33 by $0.07. CDW had a net margin of 5.13% and a return on equity of 55.42%. Sell-side analysts anticipate that CDW Co. will post 9.41 earnings per share for the current fiscal year.

CDW Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 11th. Stockholders of record on Tuesday, February 25th were issued a $0.625 dividend. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.55%. The ex-dividend date of this dividend was Tuesday, February 25th. CDW’s dividend payout ratio (DPR) is 31.37%.

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

Wall Street Analyst Weigh In

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

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.