Raymond James Financial Services Advisors Inc. Acquires 6,799 Shares of CDW Co. (NASDAQ:CDW)

Raymond James Financial Services Advisors Inc. boosted its holdings in CDW Co. (NASDAQ:CDW - Free Report) by 16.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 49,011 shares of the information technology services provider's stock after acquiring an additional 6,799 shares during the period. Raymond James Financial Services Advisors Inc.'s holdings in CDW were worth $11,141,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. JGP Wealth Management LLC acquired a new position in CDW in the 4th quarter valued at $1,559,000. California Public Employees Retirement System grew its holdings in shares of CDW by 1.0% during the 3rd quarter. California Public Employees Retirement System now owns 819,011 shares of the information technology services provider's stock worth $165,244,000 after purchasing an additional 7,854 shares in the last quarter. Comerica Bank acquired a new stake in shares of CDW during the 2nd quarter worth $532,100,000. Amalgamated Bank grew its holdings in shares of CDW by 22.0% during the 3rd quarter. Amalgamated Bank now owns 44,774 shares of the information technology services provider's stock worth $9,034,000 after purchasing an additional 8,063 shares in the last quarter. Finally, State Street Corp grew its holdings in shares of CDW by 2.1% during the 2nd quarter. State Street Corp now owns 5,391,296 shares of the information technology services provider's stock worth $989,303,000 after purchasing an additional 110,044 shares in the last quarter. 93.15% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

CDW Stock Down 1.1 %

Shares of CDW traded down $2.72 on Monday, reaching $253.06. The stock had a trading volume of 447,769 shares, compared to its average volume of 714,916. The firm has a market capitalization of $33.96 billion, a price-to-earnings ratio of 31.58, a price-to-earnings-growth ratio of 2.90 and a beta of 1.09. The company has a debt-to-equity ratio of 2.46, a quick ratio of 1.11 and a current ratio of 1.23. The company has a 50-day simple moving average of $242.60 and a 200-day simple moving average of $223.16. CDW Co. has a 12-month low of $160.66 and a 12-month high of $259.38.

CDW (NASDAQ:CDW - Get Free Report) last released its earnings results on Wednesday, February 7th. The information technology services provider reported $2.57 EPS for the quarter, beating analysts' consensus estimates of $2.56 by $0.01. The company had revenue of $5.02 billion during the quarter, compared to analysts' expectations of $5.32 billion. CDW had a return on equity of 73.93% and a net margin of 5.17%. The firm's revenue for the quarter was down 7.7% compared to the same quarter last year. During the same quarter last year, the business posted $2.40 EPS. Sell-side analysts predict that CDW Co. will post 9.88 EPS for the current year.

CDW Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 12th. Shareholders of record on Monday, February 26th were paid a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a yield of 0.98%. The ex-dividend date of this dividend was Friday, February 23rd. CDW's payout ratio is 30.62%.

CDW announced that its board has approved a share buyback program on Wednesday, February 7th that allows the company to repurchase $750.00 million in shares. This repurchase authorization allows the information technology services provider to buy up to 2.4% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company's management believes its shares are undervalued.

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.