Fielder Capital Group LLC Makes New Investment in CDW Co. (NASDAQ:CDW)

Fielder Capital Group LLC purchased a new stake in shares of CDW Co. (NASDAQ:CDW) in the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 2,382 shares of the information technology services provider’s stock, valued at approximately $415,000.

Several other hedge funds also recently modified their holdings of the company. Private Advisor Group LLC grew its stake in shares of CDW by 10.7% in the 3rd quarter. Private Advisor Group LLC now owns 3,708 shares of the information technology services provider’s stock worth $839,000 after purchasing an additional 359 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its position in CDW by 7.3% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 6,667 shares of the information technology services provider’s stock worth $1,509,000 after buying an additional 451 shares during the last quarter. abrdn plc increased its holdings in shares of CDW by 31.4% in the third quarter. abrdn plc now owns 54,725 shares of the information technology services provider’s stock valued at $12,409,000 after buying an additional 13,079 shares in the last quarter. China Universal Asset Management Co. Ltd. lifted its position in shares of CDW by 109.7% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 1,694 shares of the information technology services provider’s stock valued at $383,000 after acquiring an additional 886 shares during the last quarter. Finally, Diversify Wealth Management LLC boosted its stake in shares of CDW by 16.6% during the 3rd quarter. Diversify Wealth Management LLC now owns 2,221 shares of the information technology services provider’s stock worth $483,000 after acquiring an additional 317 shares in the last quarter. 93.15% of the stock is currently owned by institutional investors and hedge funds.

CDW Stock Performance

Shares of CDW opened at $179.00 on Friday. The company has a market capitalization of $23.72 billion, a PE ratio of 22.46, 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. The company’s 50 day moving average price is $186.73 and its 200 day moving average price is $199.29. CDW Co. has a 52 week low of $168.43 and a 52 week high of $263.37.

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, 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%. Research analysts expect that CDW Co. will post 9.41 EPS for the current fiscal year.

CDW Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 11th. Stockholders of record on Tuesday, February 25th will be paid a dividend of $0.625 per share. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.40%. The ex-dividend date of this dividend is Tuesday, February 25th. CDW’s dividend payout ratio (DPR) is presently 31.37%.

CDW announced that its board has initiated a share buyback plan on Wednesday, February 5th that allows the company to repurchase $750.00 million in shares. This repurchase authorization allows the information technology services provider to purchase up to 2.7% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on CDW shares. Barclays increased 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. Redburn Atlantic started coverage on shares of CDW in a report on Friday, November 15th. They issued a “buy” rating and a $230.00 target price for the company. UBS Group cut their price target on shares of CDW from $233.00 to $220.00 and set a “buy” rating on the stock in a report on Tuesday, January 7th. 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 research note on Thursday, February 6th. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $242.67.

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.