Vanguard Group Inc. Increases Stock Position in CDW Co. (NASDAQ:CDW)

Vanguard Group Inc. raised its position in CDW Co. (NASDAQ:CDW) by 0.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 16,673,784 shares of the information technology services provider’s stock after acquiring an additional 99,947 shares during the quarter. Vanguard Group Inc. owned approximately 12.51% of CDW worth $2,901,905,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Allworth Financial LP increased its holdings in CDW by 39.7% during the 4th quarter. Allworth Financial LP now owns 183 shares of the information technology services provider’s stock valued at $32,000 after purchasing an additional 52 shares during the period. OFI Invest Asset Management bought a new stake in shares of CDW in the 4th quarter worth approximately $32,000. Parkside Financial Bank & Trust increased its stake 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 valued at $36,000 after buying an additional 58 shares during the period. Canoe Financial LP lifted its stake in CDW by 68.3% in the fourth quarter. Canoe Financial LP now owns 276 shares of the information technology services provider’s stock worth $48,000 after acquiring an additional 112 shares during the period. Finally, ORG Wealth Partners LLC purchased a new stake in CDW in the fourth quarter worth $69,000. 93.15% of the stock is owned by institutional investors.

Analysts Set New Price Targets

CDW has been the subject of several research reports. Morgan Stanley upped their price objective on shares of CDW from $193.00 to $201.00 and gave the stock an “equal weight” rating in a report on Thursday, February 6th. UBS Group decreased their price target 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. Finally, Barclays lifted their price objective 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 issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $235.50.

CDW Price Performance

CDW stock opened at $168.52 on Wednesday. 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 firm has a 50 day moving average price of $183.82 and a 200-day moving average price of $192.42. CDW Co. has a 52-week low of $162.84 and a 52-week high of $263.37. The firm has a market capitalization of $22.33 billion, a price-to-earnings ratio of 21.14, a PEG ratio of 3.21 and a beta of 1.01.

CDW (NASDAQ:CDW) last released its earnings results on Wednesday, February 5th. The information technology services provider reported $2.40 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%. Equities research analysts forecast that CDW Co. will post 9.41 EPS for the current fiscal year.

CDW Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 11th. Shareholders 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 1.48%. CDW’s dividend payout ratio (DPR) is presently 31.37%.

CDW announced that its Board of Directors has authorized a stock buyback plan on Wednesday, February 5th that permits the company to buyback $750.00 million in shares. This buyback authorization permits the information technology services provider to reacquire up to 2.7% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s leadership believes its shares are undervalued.

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.