FORA Capital LLC Acquires 14,671 Shares of CDW Co. (NASDAQ:CDW)

FORA Capital LLC boosted its stake in shares of CDW Co. (NASDAQ:CDW - Free Report) by 77.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 33,674 shares of the information technology services provider's stock after acquiring an additional 14,671 shares during the quarter. FORA Capital LLC's holdings in CDW were worth $5,861,000 as of its most recent SEC filing.

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

CDW Stock Up 7.1 %

CDW opened at $175.49 on Thursday. The stock has a market capitalization of $23.12 billion, a price-to-earnings ratio of 22.02, a PEG ratio of 3.21 and a beta of 0.91. CDW Co. has a fifty-two week low of $137.31 and a fifty-two week high of $241.26. The company has a fifty day moving average of $160.82 and a two-hundred day moving average of $178.24. The company has a debt-to-equity ratio of 2.38, a quick ratio of 1.24 and a current ratio of 1.35.

CDW (NASDAQ:CDW - Get Free Report) last announced its earnings results on Wednesday, May 7th. The information technology services provider reported $2.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.96 by $0.19. The company had revenue of $5.20 billion for the quarter, compared to analysts' expectations of $4.93 billion. CDW had a net margin of 5.13% and a return on equity of 55.42%. The firm's quarterly revenue was up 6.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.92 EPS. On average, research analysts expect that CDW Co. will post 9.41 earnings per share for the current year.

CDW Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Monday, May 26th will be issued a dividend of $0.625 per share. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.42%. CDW's dividend payout ratio is presently 31.37%.

CDW announced that its Board of Directors has authorized a share buyback plan on Wednesday, February 5th that permits the company to repurchase $750.00 million in shares. This repurchase authorization permits the information technology services provider to purchase up to 2.7% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company's management believes its stock is undervalued.

Analysts Set New Price Targets

CDW has been the topic of several research reports. Barclays raised their price objective on CDW from $201.00 to $223.00 and gave the stock an "equal weight" rating in a report on Thursday, February 6th. Citigroup lowered their price target on shares of CDW from $220.00 to $160.00 and set a "neutral" rating on the stock in a report on Monday, April 14th. JPMorgan Chase & Co. decreased their target price on shares of CDW from $222.00 to $175.00 and set a "neutral" rating for the company in a research report on Thursday, April 17th. Finally, Morgan Stanley increased their price objective on shares of CDW from $193.00 to $201.00 and gave the company an "equal weight" rating in a research report on Thursday, February 6th. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, CDW currently has a consensus rating of "Moderate Buy" and a consensus price target of $217.38.

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.

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