Orion Portfolio Solutions LLC Grows Stake in CDW Co. (NASDAQ:CDW)

Orion Portfolio Solutions LLC grew its holdings in shares of CDW Co. (NASDAQ:CDW) by 12.0% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 8,674 shares of the information technology services provider’s stock after buying an additional 927 shares during the period. Orion Portfolio Solutions LLC’s holdings in CDW were worth $1,510,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Norges Bank purchased a new position in CDW during the 4th quarter valued at $144,826,000. Madison Investment Advisors LLC bought a new stake in shares of CDW during the 4th quarter valued at about $130,996,000. Proficio Capital Partners LLC increased its position in shares of CDW by 18,259.3% during the fourth quarter. Proficio Capital Partners LLC now owns 687,189 shares of the information technology services provider’s stock valued at $119,598,000 after buying an additional 683,446 shares during the period. Assenagon Asset Management S.A. raised its stake in CDW by 7,549.9% in the fourth quarter. Assenagon Asset Management S.A. now owns 256,271 shares of the information technology services provider’s stock worth $44,601,000 after buying an additional 252,921 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. lifted its holdings in CDW by 64.5% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 412,071 shares of the information technology services provider’s stock worth $71,717,000 after buying an additional 161,568 shares during the period. Institutional investors own 93.15% of the company’s stock.

CDW Trading Down 7.8 %

CDW stock opened at $151.57 on Friday. CDW Co. has a 12 month low of $150.39 and a 12 month high of $263.37. 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 business’s fifty day simple moving average is $179.73 and its two-hundred day simple moving average is $190.07. The company has a market capitalization of $20.08 billion, a price-to-earnings ratio of 19.02, a price-to-earnings-growth ratio of 3.21 and a beta of 1.01.

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

CDW declared that its board has initiated a stock repurchase plan on Wednesday, February 5th that allows the company to repurchase $750.00 million in outstanding shares. This repurchase authorization allows the information technology services provider to repurchase up to 2.7% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s management believes its stock is undervalued.

CDW Dividend Announcement

The company 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 dividend yield of 1.65%. The ex-dividend date was Tuesday, February 25th. CDW’s dividend payout ratio (DPR) is currently 31.37%.

Wall Street Analysts Forecast Growth

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