CDW Co. (NASDAQ:CDW) Shares Purchased by Guggenheim Capital LLC

Guggenheim Capital LLC raised its position in CDW Co. (NASDAQ:CDW) by 0.6% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 35,182 shares of the information technology services provider’s stock after acquiring an additional 197 shares during the quarter. Guggenheim Capital LLC’s holdings in CDW were worth $6,123,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Oddo BHF Asset Management Sas acquired a new stake in shares of CDW in the third quarter worth approximately $1,629,000. Assenagon Asset Management S.A. lifted its holdings in CDW by 7,549.9% in the 4th quarter. Assenagon Asset Management S.A. now owns 256,271 shares of the information technology services provider’s stock valued at $44,601,000 after purchasing an additional 252,921 shares in the last quarter. Franklin Resources Inc. boosted its stake in CDW by 12.7% during the 4th quarter. Franklin Resources Inc. now owns 121,757 shares of the information technology services provider’s stock worth $21,191,000 after purchasing an additional 13,748 shares during the last quarter. Madison Investment Advisors LLC purchased a new stake in shares of CDW during the fourth quarter worth $130,996,000. Finally, Graphene Investments SAS raised its position in shares of CDW by 17.6% in the fourth quarter. Graphene Investments SAS now owns 17,400 shares of the information technology services provider’s stock valued at $3,028,000 after buying an additional 2,600 shares during the last quarter. 93.15% of the stock is currently owned by hedge funds and other institutional investors.

CDW Stock Performance

Shares of CDW stock opened at $151.47 on Friday. The business’s fifty day simple moving average is $168.47 and its 200-day simple moving average is $184.14. 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 $19.96 billion, a PE ratio of 19.01, a price-to-earnings-growth ratio of 3.21 and a beta of 0.97. CDW Co. has a 52 week low of $137.31 and a 52 week high of $248.12.

CDW (NASDAQ:CDW) last announced its earnings results 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%. Equities analysts forecast that CDW Co. will post 9.41 earnings per share for the current year.

CDW Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 11th. Investors of record on Tuesday, February 25th were issued a $0.625 dividend. The ex-dividend date of this dividend was Tuesday, February 25th. This represents a $2.50 annualized dividend and a yield of 1.65%. CDW’s dividend payout ratio (DPR) is presently 31.37%.

CDW announced that its Board of Directors has authorized a share buyback plan 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 purchase up to 2.7% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. UBS Group lowered their price target 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. Morgan Stanley upped 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, February 6th. Barclays lifted their price objective on CDW from $201.00 to $223.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 6th. Citigroup dropped their target price on CDW from $220.00 to $160.00 and set a “neutral” rating for the company in a report on Monday. Finally, JPMorgan Chase & Co. reduced their price target on CDW from $222.00 to $175.00 and set a “neutral” rating on the stock in a report on Thursday. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, CDW has a consensus rating of “Moderate Buy” and an average target price of $217.38.

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.