Y Intercept Hong Kong Ltd Acquires 316 Shares of CDW Co. (NASDAQ:CDW)

Y Intercept Hong Kong Ltd increased its holdings in CDW Co. (NASDAQ:CDW) by 9.3% during the 4th quarter, Holdings Channel reports. The firm owned 3,720 shares of the information technology services provider’s stock after buying an additional 316 shares during the period. Y Intercept Hong Kong Ltd’s holdings in CDW were worth $647,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Allworth Financial LP grew its stake in shares of CDW by 39.7% in the fourth quarter. Allworth Financial LP now owns 183 shares of the information technology services provider’s stock worth $32,000 after purchasing an additional 52 shares during the last quarter. Ashton Thomas Securities LLC bought a new stake in shares of CDW in the third quarter worth about $43,000. Canoe Financial LP grew its stake 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 worth $48,000 after purchasing an additional 112 shares during the last quarter. Covestor Ltd grew its stake in shares of CDW by 80.1% in the third quarter. Covestor Ltd now owns 245 shares of the information technology services provider’s stock worth $55,000 after purchasing an additional 109 shares during the last quarter. Finally, ORG Wealth Partners LLC bought a new stake in shares of CDW in the fourth quarter worth about $69,000. 93.15% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

CDW has been the subject of several research analyst reports. Barclays raised their price objective 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. UBS Group lowered their price objective on shares of CDW from $233.00 to $220.00 and set a “buy” rating for the company in a report on Tuesday, January 7th. Redburn Atlantic initiated coverage on shares of CDW in a report on Friday, November 15th. They issued a “buy” rating and a $230.00 price objective for the company. Finally, Morgan Stanley raised their price objective on shares of CDW from $193.00 to $201.00 and gave the stock an “equal weight” rating in a report on Thursday, February 6th. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $242.67.

CDW Price Performance

CDW stock opened at $178.20 on Friday. The firm has a 50 day moving average price of $186.73 and a 200-day moving average price of $199.29. CDW Co. has a 52-week low of $168.43 and a 52-week high of $263.37. The firm has a market capitalization of $23.61 billion, a price-to-earnings ratio of 22.36, a PEG ratio of 3.21 and a beta of 1.01. 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 released its earnings results on Wednesday, February 5th. The information technology services provider reported $2.40 earnings per share (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%. Equities research analysts forecast that CDW Co. will post 9.41 EPS for the current fiscal year.

CDW declared that its Board of Directors has authorized a share repurchase program on Wednesday, February 5th that permits the company to repurchase $750.00 million in shares. This repurchase authorization permits the information technology services provider to repurchase 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 Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 11th. Investors of record on Tuesday, February 25th will be issued a $0.625 dividend. The ex-dividend date of this dividend is Tuesday, February 25th. This represents a $2.50 dividend on an annualized basis and a yield of 1.40%. CDW’s payout ratio is currently 31.37%.

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.