CDW Corporation $CDW Shares Acquired by Local Pensions Partnership Investment Ltd

Key Points

• Local Pensions Partnership Investment Ltd raised its CDW stake by 7.8% in Q4 to 249,176 shares (about $33.94M), making CDW ~0.6% of its portfolio and its 24th largest holding.
• CDW beat estimates in the latest quarter with EPS $2.57 vs. $2.44 and revenue of $5.51B (up 6.3% year-over-year), and analysts forecast about 9.41 EPS for the current fiscal year.
• The stock has heavy institutional ownership (93.15%), a consensus analyst rating of "Moderate Buy" with a $160.43 price target (Evercore at $180), and pays a $0.63 quarterly dividend (≈1.9% yield).

Local Pensions Partnership Investment Ltd lifted its holdings in shares of CDW Corporation (NASDAQ:CDW - Free Report) by 7.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 249,176 shares of the information technology services provider's stock after buying an additional 18,000 shares during the quarter. CDW makes up approximately 0.6% of Local Pensions Partnership Investment Ltd's investment portfolio, making the stock its 24th largest position. Local Pensions Partnership Investment Ltd owned approximately 0.19% of CDW worth $33,940,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in CDW. Root Financial Partners LLC acquired a new position in shares of CDW during the 3rd quarter worth approximately $26,000. Quent Capital LLC acquired a new position in shares of CDW during the 3rd quarter worth approximately $57,000. eCIO Inc. acquired a new position in shares of CDW during the 4th quarter worth approximately $61,000. Covestor Ltd raised its stake in shares of CDW by 87.9% during the 3rd quarter. Covestor Ltd now owns 483 shares of the information technology services provider's stock worth $77,000 after buying an additional 226 shares during the period. Finally, American National Bank & Trust acquired a new position in shares of CDW during the 4th quarter worth approximately $110,000. 93.15% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CDW has been the subject of several research analyst reports. Citigroup upped their target price on CDW from $148.00 to $150.00 and gave the stock a "neutral" rating in a research note on Thursday, February 5th. JPMorgan Chase & Co. reduced their target price on CDW from $170.00 to $160.00 and set a "neutral" rating for the company in a research note on Thursday, February 5th. Morgan Stanley upped their target price on CDW from $141.00 to $142.00 and gave the stock an "equal weight" rating in a research note on Thursday, February 5th. Barclays reduced their target price on CDW from $148.00 to $144.00 and set an "equal weight" rating for the company in a research note on Thursday, February 5th. Finally, Evercore reaffirmed an "outperform" rating and issued a $180.00 price target on shares of CDW in a research note on Tuesday, January 20th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, CDW presently has a consensus rating of "Moderate Buy" and a consensus price target of $160.43.

CDW Stock Up 0.5%

NASDAQ CDW opened at $133.96 on Friday. The business has a fifty day moving average price of $124.25 and a 200 day moving average price of $136.17. CDW Corporation has a one year low of $112.98 and a one year high of $192.30. The company has a debt-to-equity ratio of 1.77, a quick ratio of 1.10 and a current ratio of 1.18. The company has a market cap of $17.14 billion, a P/E ratio of 16.56, a P/E/G ratio of 1.84 and a beta of 1.02.

CDW (NASDAQ:CDW - Get Free Report) last posted its quarterly earnings data on Wednesday, February 4th. The information technology services provider reported $2.57 EPS for the quarter, beating the consensus estimate of $2.44 by $0.13. CDW had a return on equity of 50.66% and a net margin of 4.76%.The firm had revenue of $5.51 billion during the quarter, compared to the consensus estimate of $5.33 billion. During the same period in the prior year, the company earned $2.48 EPS. The firm's revenue was up 6.3% compared to the same quarter last year. Research analysts anticipate that CDW Corporation will post 9.41 EPS for the current fiscal year.

CDW Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 10th. Stockholders of record on Wednesday, February 25th were issued a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a dividend yield of 1.9%. The ex-dividend date was Wednesday, February 25th. CDW's payout ratio is currently 31.15%.

CDW Profile

CDW NASDAQ: CDW is a leading provider of information technology products and integrated solutions for business, government, education and healthcare customers. The company sources and resells hardware and software from major technology vendors and packages those products with professional services, managed services and lifecycle support. Its offerings span IT infrastructure, cloud and data center solutions, cybersecurity, networking, unified communications, endpoint devices, and software licensing and procurement services designed to simplify IT operations for customers.

CDW combines a broad product portfolio with consultative sales, implementation and technical support capabilities.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.