Nebula Research & Development LLC Acquires New Shares in CDW Co. (NASDAQ:CDW)

Nebula Research & Development LLC bought a new stake in CDW Co. (NASDAQ:CDW - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 8,680 shares of the information technology services provider's stock, valued at approximately $1,511,000.

A number of other hedge funds have also made changes to their positions in CDW. Vanguard Group Inc. increased its stake in CDW by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 16,673,784 shares of the information technology services provider's stock valued at $2,901,905,000 after buying an additional 99,947 shares during the period. Geode Capital Management LLC grew its stake in shares of CDW by 1.6% in the 4th quarter. Geode Capital Management LLC now owns 3,535,405 shares of the information technology services provider's stock valued at $614,220,000 after buying an additional 54,341 shares in the last quarter. Wellington Management Group LLP raised its position in CDW by 29.2% during the fourth quarter. Wellington Management Group LLP now owns 2,538,775 shares of the information technology services provider's stock valued at $441,848,000 after acquiring an additional 574,444 shares in the last quarter. Invesco Ltd. lifted its stake in CDW by 27.6% in the fourth quarter. Invesco Ltd. now owns 2,426,746 shares of the information technology services provider's stock valued at $422,351,000 after acquiring an additional 524,559 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA increased its stake in shares of CDW by 31.3% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,414,093 shares of the information technology services provider's stock worth $420,149,000 after purchasing an additional 575,333 shares during the last quarter. 93.15% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the company. JPMorgan Chase & Co. cut their price objective on CDW from $222.00 to $175.00 and set a "neutral" rating for the company in a research report on Thursday, April 17th. 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. Citigroup reduced their price target on shares of CDW from $220.00 to $160.00 and set a "neutral" rating for the company in a report on Monday, April 14th. Barclays upped their price objective 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. Finally, UBS Group decreased their target price on CDW from $233.00 to $220.00 and set a "buy" rating on the stock in a research report on Tuesday, January 7th. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat, CDW has a consensus rating of "Moderate Buy" and a consensus target price of $217.38.

CDW Price Performance

Shares of CDW stock traded up $1.67 during trading hours on Thursday, hitting $162.23. 592,704 shares of the company's stock were exchanged, compared to its average volume of 1,180,772. The stock's 50-day moving average is $162.26 and its 200-day moving average is $180.09. 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 Co. has a 52 week low of $137.31 and a 52 week high of $241.26. The stock has a market cap of $21.38 billion, a price-to-earnings ratio of 20.39, a price-to-earnings-growth ratio of 3.21 and a beta of 0.97.

CDW (NASDAQ:CDW - Get Free Report) last announced its earnings results on Wednesday, February 5th. The information technology services provider reported $2.40 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.33 by $0.07. CDW had a net margin of 5.13% and a return on equity of 55.42%. As a group, research analysts forecast that CDW Co. will post 9.41 EPS for the current year.

CDW Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 11th. Shareholders of record on Tuesday, February 25th were given a dividend of $0.625 per share. This represents a $2.50 annualized dividend and a dividend yield of 1.54%. The ex-dividend date was Tuesday, February 25th. CDW's payout ratio is 31.37%.

CDW declared that its board has authorized a stock 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 reacquire up to 2.7% of its shares through open market purchases. Shares buyback programs are often a sign that the company's board of directors believes its shares are undervalued.

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.