Congress Wealth Management LLC DE Has $2.68 Million Stake in CDW Co. (NASDAQ:CDW)

Congress Wealth Management LLC DE boosted its position in shares of CDW Co. (NASDAQ:CDW) by 2.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,378 shares of the information technology services provider’s stock after acquiring an additional 385 shares during the quarter. Congress Wealth Management LLC DE’s holdings in CDW were worth $2,676,000 at the end of the most recent reporting period.

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

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Morgan Stanley increased their price target on 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 dropped 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. Finally, Barclays lifted their target price on shares of CDW from $201.00 to $223.00 and gave the stock an “equal weight” rating in a report on Thursday, February 6th. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, CDW presently has an average rating of “Moderate Buy” and a consensus price target of $235.50.

CDW Stock Down 0.7 %

CDW opened at $167.33 on Thursday. The stock has a fifty day moving average of $183.42 and a 200-day moving average of $192.25. The company has a market capitalization of $22.17 billion, a P/E ratio of 20.99, a P/E/G ratio of 3.21 and a beta of 1.01. CDW Co. has a fifty-two week low of $162.84 and a fifty-two week high of $263.37. 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 (NASDAQ:CDW) last issued its quarterly earnings data on Wednesday, February 5th. The information technology services provider reported $2.40 earnings per share for the quarter, topping 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%. On average, equities 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 paid a $0.625 dividend. This represents a $2.50 annualized dividend and a dividend yield of 1.49%. The ex-dividend date was Tuesday, February 25th. CDW’s dividend payout ratio (DPR) is currently 31.37%.

CDW declared that its Board of Directors has authorized a stock buyback plan 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 shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

About CDW

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.