Phoenix Financial Ltd. Acquires 313 Shares of CDW Co. (NASDAQ:CDW)

Phoenix Financial Ltd. grew its stake in CDW Co. (NASDAQ:CDW) by 21.7% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 1,753 shares of the information technology services provider’s stock after buying an additional 313 shares during the quarter. Phoenix Financial Ltd.’s holdings in CDW were worth $305,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. Orion Portfolio Solutions LLC grew its position in CDW by 9.6% during the 3rd quarter. Orion Portfolio Solutions LLC now owns 7,747 shares of the information technology services provider’s stock worth $1,753,000 after acquiring an additional 680 shares during the last quarter. Y Intercept Hong Kong Ltd grew its stake in CDW by 54.7% in the third quarter. Y Intercept Hong Kong Ltd now owns 3,404 shares of the information technology services provider’s stock worth $770,000 after purchasing an additional 1,203 shares during the period. Barclays PLC increased its stake in shares of CDW by 0.3% in the 3rd quarter. Barclays PLC now owns 1,156,789 shares of the information technology services provider’s stock worth $261,779,000 after acquiring an additional 3,424 shares in the last quarter. Coldstream Capital Management Inc. increased its stake in shares of CDW by 7.9% during the third quarter. Coldstream Capital Management Inc. now owns 1,594 shares of the information technology services provider’s stock valued at $355,000 after purchasing an additional 117 shares in the last quarter. Finally, Toronto Dominion Bank increased its position in CDW by 1.0% during the 3rd quarter. Toronto Dominion Bank now owns 75,704 shares of the information technology services provider’s stock valued at $17,132,000 after buying an additional 779 shares in the last quarter. Institutional investors own 93.15% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on CDW shares. UBS Group reduced their price objective on shares of CDW from $233.00 to $220.00 and set a “buy” rating for the company in a research note on Tuesday, January 7th. Barclays increased their target price on CDW from $201.00 to $223.00 and gave the company an “equal weight” rating in a report on Thursday, February 6th. Finally, Morgan Stanley lifted their price target on shares of CDW from $193.00 to $201.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 6th. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $235.50.

CDW Stock Performance

NASDAQ CDW opened at $148.80 on Friday. CDW Co. has a twelve month low of $137.31 and a twelve month high of $248.12. 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 firm has a market cap of $19.71 billion, a price-to-earnings ratio of 18.67, a price-to-earnings-growth ratio of 3.21 and a beta of 0.97. The business has a 50-day moving average price of $172.21 and a 200-day moving average price of $185.97.

CDW (NASDAQ:CDW) last released its quarterly earnings data 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 net margin of 5.13% and a return on equity of 55.42%. As a group, equities research analysts predict that CDW Co. will post 9.41 EPS for the current fiscal year.

CDW Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 11th. Shareholders 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 dividend on an annualized basis and a dividend yield of 1.68%. CDW’s payout ratio is currently 31.37%.

CDW declared that its Board of Directors has approved a share buyback 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 reacquire up to 2.7% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board believes its shares are undervalued.

CDW 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.