Kendall Capital Management Buys 3,093 Shares of CDW Co. (NASDAQ:CDW)

Kendall Capital Management boosted its holdings in shares of CDW Co. (NASDAQ:CDW) by 12.1% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 28,555 shares of the information technology services provider’s stock after acquiring an additional 3,093 shares during the period. CDW comprises approximately 1.5% of Kendall Capital Management’s holdings, making the stock its 16th largest position. Kendall Capital Management’s holdings in CDW were worth $4,970,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. M&G PLC boosted its position in CDW by 2.3% during the third quarter. M&G PLC now owns 32,457 shares of the information technology services provider’s stock worth $7,335,000 after purchasing an additional 737 shares during the period. Portside Wealth Group LLC boosted its position in shares of CDW by 22.9% in the third quarter. Portside Wealth Group LLC now owns 1,250 shares of the information technology services provider’s stock valued at $283,000 after acquiring an additional 233 shares during the period. Assetmark Inc. raised its stake in CDW by 37.3% in the third quarter. Assetmark Inc. now owns 975 shares of the information technology services provider’s stock valued at $221,000 after purchasing an additional 265 shares in the last quarter. Tompkins Financial Corp purchased a new stake in CDW in the third quarter valued at approximately $113,000. Finally, Covestor Ltd raised its stake in CDW by 80.1% in the third quarter. Covestor Ltd now owns 245 shares of the information technology services provider’s stock valued at $55,000 after purchasing an additional 109 shares in the last quarter. Institutional investors and hedge funds own 93.15% of the company’s stock.

CDW Price Performance

Shares of CDW stock opened at $168.37 on Friday. CDW Co. has a 1-year low of $164.98 and a 1-year high of $263.37. The stock’s 50-day moving average is $186.22 and its 200 day moving average is $197.19. The company has a market cap of $22.31 billion, a P/E ratio of 21.13, a PEG ratio of 3.21 and a beta of 1.01. The company has a debt-to-equity ratio of 2.38, a current ratio of 1.35 and a quick ratio of 1.24.

CDW (NASDAQ:CDW) last announced its quarterly earnings data on Wednesday, February 5th. The information technology services provider reported $2.40 earnings per share (EPS) for the quarter, topping 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%. Research analysts predict that CDW Co. will post 9.41 earnings per share for the current fiscal year.

CDW Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 11th. Stockholders of record on Tuesday, February 25th will be given a $0.625 dividend. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.48%. The ex-dividend date is Tuesday, February 25th. CDW’s dividend payout ratio (DPR) is presently 31.37%.

CDW announced that its Board of Directors has initiated a share buyback program on Wednesday, February 5th that permits the company to repurchase $750.00 million in outstanding 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 programs are usually a sign that the company’s board of directors believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Morgan Stanley lifted their target price 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. Redburn Atlantic assumed coverage on CDW in a research report on Friday, November 15th. They issued a “buy” rating and a $230.00 price target for the company. UBS Group lowered their price target 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 shares of CDW from $201.00 to $223.00 and gave the company an “equal weight” rating in a research report on Thursday, February 6th. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $242.67.

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.