CDW Co. (NASDAQ:CDW) Position Raised by Vest Financial LLC

Vest Financial LLC boosted its position in CDW Co. (NASDAQ:CDW) by 75.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,595 shares of the information technology services provider’s stock after purchasing an additional 684 shares during the period. Vest Financial LLC’s holdings in CDW were worth $278,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. State Street Corp lifted its holdings in shares of CDW by 1.1% in the third quarter. State Street Corp now owns 5,719,348 shares of the information technology services provider’s stock valued at $1,294,288,000 after buying an additional 64,702 shares during the period. Geode Capital Management LLC raised its position in CDW by 0.9% in the third quarter. Geode Capital Management LLC now owns 3,481,064 shares of the information technology services provider’s stock worth $785,635,000 after acquiring an additional 31,858 shares in the last quarter. Massachusetts Financial Services Co. MA acquired a new stake in CDW in the 3rd quarter valued at about $416,111,000. Janus Henderson Group PLC boosted its position in shares of CDW by 7,029.1% during the 3rd quarter. Janus Henderson Group PLC now owns 1,466,597 shares of the information technology services provider’s stock valued at $331,891,000 after purchasing an additional 1,446,025 shares in the last quarter. Finally, Barclays PLC boosted its position in shares of CDW by 0.3% during the 3rd quarter. Barclays PLC now owns 1,156,789 shares of the information technology services provider’s stock valued at $261,779,000 after purchasing an additional 3,424 shares in the last quarter. 93.15% of the stock is owned by institutional investors.

CDW Stock Down 3.9 %

Shares of CDW stock opened at $192.02 on Monday. The company has a current ratio of 1.35, a quick ratio of 1.28 and a debt-to-equity ratio of 2.38. CDW Co. has a 1 year low of $168.43 and a 1 year high of $263.37. The stock has a 50-day moving average price of $183.86 and a 200 day moving average price of $201.96. The company has a market cap of $25.59 billion, a P/E ratio of 24.09, a P/E/G ratio of 5.40 and a beta of 1.01.

CDW (NASDAQ:CDW) last posted its quarterly earnings results on Wednesday, February 5th. The information technology services provider reported $2.40 EPS 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%. As a group, analysts expect that CDW Co. will post 9.35 EPS for the current fiscal year.

CDW declared that its Board of Directors has approved a share repurchase plan on Wednesday, February 5th that permits the company to repurchase $750.00 million in outstanding shares. This repurchase authorization permits the information technology services provider to reacquire up to 2.7% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

CDW Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 11th. Stockholders of record on Tuesday, February 25th will be issued a dividend of $0.625 per share. This represents a $2.50 annualized dividend and a dividend yield of 1.30%. The ex-dividend date of this dividend is Tuesday, February 25th. CDW’s dividend payout ratio is currently 31.37%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on CDW shares. Redburn Atlantic assumed coverage on shares of CDW in a research note on Friday, November 15th. They set a “buy” rating and a $230.00 target price for the company. UBS Group reduced their price objective on CDW from $233.00 to $220.00 and set a “buy” rating for the company in a research note on Tuesday, January 7th. JPMorgan Chase & Co. lowered CDW from an “overweight” rating to a “neutral” rating and cut their target price for the stock from $260.00 to $235.00 in a research report on Monday, October 28th. 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 report on Thursday. Finally, Barclays boosted their price objective on CDW from $201.00 to $223.00 and gave the stock an “equal weight” rating in a report on Thursday. Four analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $242.67.

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.