Unison Asset Management LLC Increases Stake in CDW Co. (NASDAQ:CDW)

Unison Asset Management LLC grew its stake in shares of CDW Co. (NASDAQ:CDW) by 2.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 38,732 shares of the information technology services provider’s stock after purchasing an additional 982 shares during the quarter. CDW makes up approximately 3.3% of Unison Asset Management LLC’s portfolio, making the stock its 15th biggest position. Unison Asset Management LLC’s holdings in CDW were worth $6,741,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Canoe Financial LP purchased a new stake in CDW in the 3rd quarter worth approximately $37,000. Fortitude Family Office LLC boosted its holdings in CDW by 350.0% in the third quarter. Fortitude Family Office LLC now owns 171 shares of the information technology services provider’s stock valued at $39,000 after acquiring an additional 133 shares in the last quarter. Ashton Thomas Securities LLC purchased a new position in CDW during the 3rd quarter valued at $43,000. Covestor Ltd raised its holdings in CDW by 80.1% in the 3rd quarter. Covestor Ltd now owns 245 shares of the information technology services provider’s stock worth $55,000 after purchasing an additional 109 shares in the last quarter. Finally, ORG Wealth Partners LLC purchased a new stake in shares of CDW in the 4th quarter worth about $69,000. Institutional investors own 93.15% of the company’s stock.

CDW Trading Down 3.9 %

Shares of NASDAQ CDW opened at $192.02 on Friday. The firm’s 50 day moving average price is $183.54 and its 200-day moving average price is $202.63. CDW Co. has a 52-week low of $168.43 and a 52-week high of $263.37. The company has a debt-to-equity ratio of 2.39, a quick ratio of 1.28 and a current ratio of 1.40. The company has a market cap of $25.59 billion, a PE ratio of 23.47, a P/E/G ratio of 5.39 and a beta of 1.01.

CDW (NASDAQ:CDW) last released its quarterly earnings data on Wednesday, February 5th. The information technology services provider reported $2.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.33 by $0.07. CDW had a return on equity of 58.31% and a net margin of 5.33%. On average, equities research analysts expect that CDW Co. will post 8.99 EPS for the current fiscal year.

CDW announced that its Board of Directors has approved a share repurchase 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 repurchase up to 2.7% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.

CDW Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 11th. Shareholders 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 yield of 1.30%. The ex-dividend date is Tuesday, February 25th. CDW’s dividend payout ratio (DPR) is 30.56%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on CDW shares. JPMorgan Chase & Co. cut shares of CDW from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $260.00 to $235.00 in a research report on Monday, October 28th. Redburn Atlantic started coverage on CDW in a research report on Friday, November 15th. They issued a “buy” rating and a $230.00 target price for the company. Morgan Stanley lifted 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. UBS Group decreased their price objective on CDW from $233.00 to $220.00 and set a “buy” rating for the company in a report on Tuesday, January 7th. Finally, Barclays boosted their target price on shares of CDW from $201.00 to $223.00 and gave the company an “equal weight” rating in a report on Thursday. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, CDW presently has a consensus rating of “Moderate Buy” and an average target price 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.