CDW Co. (NASDAQ:CDW) Shares Acquired by Parkside Financial Bank & Trust

Parkside Financial Bank & Trust increased its stake in shares of CDW Co. (NASDAQ:CDW) by 38.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 207 shares of the information technology services provider’s stock after acquiring an additional 58 shares during the period. Parkside Financial Bank & Trust’s holdings in CDW were worth $36,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Allworth Financial LP boosted its stake in shares of CDW by 39.7% during the 4th quarter. Allworth Financial LP now owns 183 shares of the information technology services provider’s stock worth $32,000 after acquiring an additional 52 shares in the last quarter. Ashton Thomas Securities LLC acquired a new position in CDW in the 3rd quarter worth about $43,000. Covestor Ltd boosted its position in CDW by 80.1% during the third 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. Canoe Financial LP grew its holdings in CDW by 68.3% in the fourth quarter. Canoe Financial LP now owns 276 shares of the information technology services provider’s stock valued at $48,000 after purchasing an additional 112 shares during the period. Finally, Brooklyn Investment Group acquired a new stake in CDW in the third quarter valued at approximately $90,000. 93.15% of the stock is currently owned by hedge funds and other institutional investors.

CDW Stock Down 3.2 %

Shares of NASDAQ CDW opened at $172.50 on Tuesday. The stock has a market cap of $22.85 billion, a PE ratio of 21.64, a P/E/G ratio of 3.21 and a beta of 1.01. The company has a current ratio of 1.35, a quick ratio of 1.24 and a debt-to-equity ratio of 2.38. CDW Co. has a 12-month low of $168.43 and a 12-month high of $263.37. The company has a 50-day moving average of $186.80 and a 200 day moving average of $198.81.

CDW (NASDAQ:CDW) last posted its quarterly earnings results on Wednesday, February 5th. The information technology services provider reported $2.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.33 by $0.07. CDW had a return on equity of 55.42% and a net margin of 5.13%. As a group, sell-side analysts predict that CDW Co. will post 9.41 EPS for the current fiscal year.

CDW Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 11th. Shareholders of record on Tuesday, February 25th will be paid a $0.625 dividend. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.45%. The ex-dividend date of this dividend is Tuesday, February 25th. CDW’s dividend payout ratio (DPR) is presently 31.37%.

CDW declared that its Board of Directors has approved a share repurchase program on Wednesday, February 5th that permits the company to buyback $750.00 million in outstanding shares. This buyback authorization permits the information technology services provider to purchase up to 2.7% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Analysts Set New Price Targets

Several research analysts have recently weighed in on CDW shares. Barclays upped their target price on CDW from $201.00 to $223.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 6th. 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 research report on Thursday, February 6th. Redburn Atlantic initiated coverage on shares of CDW in a research report on Friday, November 15th. They issued a “buy” rating and a $230.00 target price on the stock. Finally, UBS Group reduced their price target on shares of CDW from $233.00 to $220.00 and set a “buy” rating for the company in a research report on Tuesday, January 7th. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, CDW presently has a consensus rating of “Moderate Buy” and an average 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.