First Trust Advisors LP Buys 160,089 Shares of CDW Co. (NASDAQ:CDW)

First Trust Advisors LP lifted its holdings in CDW Co. (NASDAQ:CDW - Free Report) by 27.5% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 742,638 shares of the information technology services provider's stock after purchasing an additional 160,089 shares during the quarter. First Trust Advisors LP owned about 0.56% of CDW worth $129,249,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of CDW. Allworth Financial LP lifted its position in CDW by 39.7% in the 4th quarter. Allworth Financial LP now owns 183 shares of the information technology services provider's stock valued at $32,000 after acquiring an additional 52 shares in the last quarter. OFI Invest Asset Management bought a new position in shares of CDW during the fourth quarter worth about $32,000. Parkside Financial Bank & Trust lifted its stake in CDW by 38.9% in the 4th 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. Canoe Financial LP boosted its position in CDW by 68.3% during the 4th quarter. Canoe Financial LP now owns 276 shares of the information technology services provider's stock worth $48,000 after acquiring an additional 112 shares during the last quarter. Finally, Pilgrim Partners Asia Pte Ltd bought a new stake in shares of CDW in the fourth quarter worth $66,000. Institutional investors own 93.15% of the company's stock.

CDW Stock Performance

Shares of CDW stock traded down $1.30 on Friday, hitting $157.65. The company's stock had a trading volume of 305,861 shares, compared to its average volume of 1,174,385. CDW Co. has a fifty-two week low of $137.31 and a fifty-two week high of $248.12. The company has a debt-to-equity ratio of 2.38, a quick ratio of 1.24 and a current ratio of 1.35. The stock's 50 day moving average is $164.84 and its 200-day moving average is $181.85. The company has a market capitalization of $20.77 billion, a PE ratio of 19.76, a PEG ratio of 3.21 and a beta of 0.97.

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 (EPS) for the quarter, beating the consensus estimate of $2.33 by $0.07. CDW had a net margin of 5.13% and a return on equity of 55.42%. Equities research analysts expect that CDW Co. will post 9.41 earnings per share for the current fiscal year.

CDW announced that its board has authorized a share buyback 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 purchase up to 2.7% of its shares through open market purchases. Shares buyback programs are generally a sign that the company's board of directors believes its stock is undervalued.

CDW Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 11th. Stockholders of record on Tuesday, February 25th were paid a dividend of $0.625 per share. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.59%. The ex-dividend date was Tuesday, February 25th. CDW's payout ratio is 31.37%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. JPMorgan Chase & Co. lowered their price target on shares of CDW from $222.00 to $175.00 and set a "neutral" rating on the stock in a research note on Thursday, April 17th. UBS Group dropped their target price on CDW from $233.00 to $220.00 and set a "buy" rating on the stock in a report on Tuesday, January 7th. Barclays boosted their price target on CDW from $201.00 to $223.00 and gave the stock an "equal weight" rating in a research report on Thursday, February 6th. Morgan Stanley raised their target price on shares of CDW from $193.00 to $201.00 and gave the company an "equal weight" rating in a research note on Thursday, February 6th. Finally, Citigroup dropped their price target on shares of CDW from $220.00 to $160.00 and set a "neutral" rating on the stock in a research report on Monday, April 14th. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $217.38.

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.