CDW Co. (NASDAQ:CDW) Shares Acquired by Schonfeld Strategic Advisors LLC

Schonfeld Strategic Advisors LLC grew its position in CDW Co. (NASDAQ:CDW - Free Report) by 659.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 50,103 shares of the information technology services provider's stock after buying an additional 43,507 shares during the quarter. Schonfeld Strategic Advisors LLC's holdings in CDW were worth $8,720,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Allworth Financial LP raised its position in CDW by 39.7% during the fourth 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 during the last quarter. OFI Invest Asset Management acquired a new position in shares of CDW in the fourth quarter worth $32,000. Parkside Financial Bank & Trust lifted its position in shares of CDW by 38.9% in the fourth quarter. Parkside Financial Bank & Trust now owns 207 shares of the information technology services provider's stock valued at $36,000 after acquiring an additional 58 shares in the last quarter. Optiver Holding B.V. boosted its stake in shares of CDW by 107.2% during the fourth quarter. Optiver Holding B.V. now owns 230 shares of the information technology services provider's stock valued at $40,000 after acquiring an additional 119 shares during the last quarter. Finally, Quarry LP purchased a new stake in CDW during the 4th quarter worth about $48,000. Institutional investors and hedge funds own 93.15% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on CDW. Morgan Stanley raised their price target 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. Barclays boosted their price target on CDW from $201.00 to $223.00 and gave the company an "equal weight" rating in a report on Thursday, February 6th. UBS Group decreased their price objective on CDW from $233.00 to $220.00 and set a "buy" rating on the stock in a report on Tuesday, January 7th. Citigroup dropped their target price on CDW from $220.00 to $160.00 and set a "neutral" rating for the company in a research note on Monday, April 14th. Finally, JPMorgan Chase & Co. lowered their price target on CDW from $222.00 to $175.00 and set a "neutral" rating for the company in a report on Thursday, April 17th. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $217.38.

CDW Stock Performance

NASDAQ CDW opened at $160.56 on Thursday. 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 1-year low of $137.31 and a 1-year high of $241.26. The firm has a market capitalization of $21.16 billion, a P/E ratio of 20.15, a P/E/G ratio of 3.21 and a beta of 0.97. The business's 50-day simple moving average is $162.26 and its 200-day simple moving average is $180.09.

CDW (NASDAQ:CDW - Get Free Report) last announced its quarterly earnings results on Wednesday, February 5th. The information technology services provider reported $2.40 earnings per share for the quarter, beating 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%. Equities analysts predict that CDW Co. will post 9.41 EPS for the current year.

CDW announced that its board has initiated a stock repurchase program on Wednesday, February 5th that allows the company to buyback $750.00 million in outstanding shares. This buyback authorization allows the information technology services provider to repurchase up to 2.7% of its stock through open market purchases. Stock buyback programs are generally a sign that the company's leadership believes its shares are undervalued.

CDW Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 11th. Investors of record on Tuesday, February 25th were issued a dividend of $0.625 per share. This represents a $2.50 dividend on an annualized basis and a yield of 1.56%. The ex-dividend date was Tuesday, February 25th. CDW's payout ratio is 31.37%.

CDW Company 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.

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