Pacer Advisors Inc. Increases Stock Holdings in CDW Co. (NASDAQ:CDW)

Pacer Advisors Inc. lifted its holdings in CDW Co. (NASDAQ:CDW - Free Report) by 84.9% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 15,924 shares of the information technology services provider's stock after purchasing an additional 7,310 shares during the period. Pacer Advisors Inc.'s holdings in CDW were worth $3,620,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of CDW. OFI Invest Asset Management purchased a new position in shares of CDW in the third quarter worth about $25,000. VisionPoint Advisory Group LLC acquired a new position in shares of CDW in the third quarter valued at approximately $28,000. TFC Financial Management Inc. grew its holdings in shares of CDW by 61.1% in the third quarter. TFC Financial Management Inc. now owns 145 shares of the information technology services provider's stock valued at $29,000 after purchasing an additional 55 shares in the last quarter. Altshuler Shaham Ltd acquired a new position in shares of CDW in the fourth quarter valued at approximately $33,000. Finally, Orion Capital Management LLC acquired a new position in shares of CDW in the third quarter valued at approximately $35,000. Hedge funds and other institutional investors own 93.15% of the company's stock.

CDW Trading Down 0.8 %

Shares of CDW stock traded down $2.09 during trading hours on Friday, hitting $255.78. 772,263 shares of the company were exchanged, compared to its average volume of 653,620. The firm has a market cap of $34.33 billion, a PE ratio of 31.58, a PEG ratio of 2.90 and a beta of 1.09. CDW Co. has a 1 year low of $160.66 and a 1 year high of $259.38. The company has a quick ratio of 1.11, a current ratio of 1.23 and a debt-to-equity ratio of 2.46. The firm has a fifty day moving average of $242.60 and a 200 day moving average of $223.06.

CDW (NASDAQ:CDW - Get Free Report) last announced its quarterly earnings data on Wednesday, February 7th. The information technology services provider reported $2.57 earnings per share for the quarter, topping the consensus estimate of $2.56 by $0.01. The business had revenue of $5.02 billion for the quarter, compared to analyst estimates of $5.32 billion. CDW had a net margin of 5.17% and a return on equity of 73.93%. The company's revenue was down 7.7% on a year-over-year basis. During the same period in the prior year, the firm posted $2.40 EPS. Analysts expect that CDW Co. will post 9.88 earnings per share for the current year.

CDW announced that its Board of Directors has initiated a stock buyback plan on Wednesday, February 7th that permits the company to repurchase $750.00 million in shares. This repurchase authorization permits the information technology services provider to reacquire up to 2.4% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company's leadership believes its shares are undervalued.

CDW Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 12th. Investors of record on Monday, February 26th were issued a $0.62 dividend. The ex-dividend date was Friday, February 23rd. This represents a $2.48 annualized dividend and a yield of 0.97%. CDW's payout ratio is 30.62%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on CDW shares. Morgan Stanley cut shares of CDW from an "overweight" rating to an "equal weight" rating and set a $216.00 price target for the company. in a report on Tuesday, December 12th. Barclays boosted their price target on shares of CDW from $219.00 to $261.00 and gave the stock an "equal weight" rating in a report on Thursday, February 8th. JPMorgan Chase & Co. boosted their price target on shares of CDW from $253.00 to $267.00 and gave the stock an "overweight" rating in a report on Thursday, February 8th. Finally, Evercore ISI boosted their price target on shares of CDW from $250.00 to $300.00 and gave the stock an "outperform" rating in a report on Friday, March 22nd. Four analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $228.60.

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.