National Bank of Canada FI Acquires 111,610 Shares of CDW Co. (NASDAQ:CDW)

National Bank of Canada FI raised its holdings in CDW Co. (NASDAQ:CDW) by 137.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 192,726 shares of the information technology services provider’s stock after acquiring an additional 111,610 shares during the period. National Bank of Canada FI’s holdings in CDW were worth $33,542,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Allworth Financial LP lifted its stake 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 acquiring an additional 52 shares during the last quarter. Summit Trail Advisors LLC raised its position in CDW by 1.4% in the fourth quarter. Summit Trail Advisors LLC now owns 4,040 shares of the information technology services provider’s stock valued at $703,000 after purchasing an additional 56 shares during the last quarter. Parkside Financial Bank & Trust grew its holdings in shares of CDW by 38.9% during the fourth quarter. Parkside Financial Bank & Trust now owns 207 shares of the information technology services provider’s stock worth $36,000 after purchasing an additional 58 shares during the last quarter. Fulcrum Equity Management increased its stake in shares of CDW by 4.3% in the third quarter. Fulcrum Equity Management now owns 1,442 shares of the information technology services provider’s stock valued at $326,000 after buying an additional 60 shares during the period. Finally, Jacobi Capital Management LLC raised its holdings in CDW by 4.5% in the 4th quarter. Jacobi Capital Management LLC now owns 1,428 shares of the information technology services provider’s stock valued at $248,000 after buying an additional 61 shares during the last quarter. Institutional investors and hedge funds own 93.15% of the company’s stock.

CDW Price Performance

CDW stock opened at $164.47 on Thursday. The company has a quick ratio of 1.24, a current ratio of 1.35 and a debt-to-equity ratio of 2.38. The company’s fifty day simple moving average is $180.64 and its 200 day simple moving average is $190.34. CDW Co. has a 12-month low of $158.76 and a 12-month high of $263.37. The firm has a market cap of $21.79 billion, a price-to-earnings ratio of 20.64, a PEG ratio of 3.21 and a beta of 1.01.

CDW (NASDAQ:CDW) last announced its earnings results on Wednesday, February 5th. The information technology services provider reported $2.40 EPS for the quarter, beating the consensus estimate of $2.33 by $0.07. CDW had a return on equity of 55.42% and a net margin of 5.13%. On average, analysts expect that CDW Co. will post 9.41 earnings per share for the current year.

CDW announced that its board has approved 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 purchase up to 2.7% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its stock is undervalued.

CDW Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 11th. Stockholders of record on Tuesday, February 25th were paid a $0.625 dividend. The ex-dividend date was Tuesday, February 25th. This represents a $2.50 annualized dividend and a dividend yield of 1.52%. CDW’s dividend payout ratio is currently 31.37%.

Wall Street Analyst Weigh In

CDW has been the subject of several recent research reports. Morgan Stanley upped their price target on shares of CDW from $193.00 to $201.00 and gave the company an “equal weight” rating in a research report on Thursday, February 6th. UBS Group lowered their target price 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, Barclays upped their price target on CDW from $201.00 to $223.00 and gave the company an “equal weight” rating in a research 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 stock. According to data from MarketBeat.com, the company presently 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.