Vaughan Nelson Investment Management L.P. boosted its stake in CDW Co. (NASDAQ:CDW - Free Report) by 27.9% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 143,359 shares of the information technology services provider's stock after buying an additional 31,307 shares during the quarter. Vaughan Nelson Investment Management L.P. owned approximately 0.11% of CDW worth $32,588,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds have also recently bought and sold shares of CDW. OFI Invest Asset Management acquired a new position in CDW in the 3rd quarter valued at $25,000. VisionPoint Advisory Group LLC acquired a new position in CDW in the 3rd quarter valued at $28,000. TFC Financial Management Inc. raised its holdings in CDW by 61.1% in the 3rd quarter. TFC Financial Management Inc. now owns 145 shares of the information technology services provider's stock valued at $29,000 after acquiring an additional 55 shares during the last quarter. Altshuler Shaham Ltd acquired a new position in CDW in the 4th quarter valued at $33,000. Finally, Orion Capital Management LLC acquired a new position in CDW in the 3rd quarter valued at $35,000. Hedge funds and other institutional investors own 93.15% of the company's stock.
Analysts Set New Price Targets
Several research analysts have weighed in on CDW shares. Barclays boosted their price target on CDW from $219.00 to $261.00 and gave the company an "equal weight" rating in a report on Thursday, February 8th. Evercore ISI upped their price objective on CDW from $250.00 to $300.00 and gave the stock an "outperform" rating in a report on Friday, March 22nd. Citigroup upped their price objective on CDW from $255.00 to $295.00 and gave the stock a "buy" rating in a report on Thursday. JPMorgan Chase & Co. upped their price objective on CDW from $253.00 to $267.00 and gave the stock an "overweight" rating in a report on Thursday, February 8th. Finally, Morgan Stanley downgraded CDW from an "overweight" rating to an "equal weight" rating and set a $216.00 price objective for the company. in a report on Tuesday, December 12th. Four analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $237.60.
Check Out Our Latest Report on CDW
CDW Stock Up 1.0 %
NASDAQ:CDW traded up $2.65 on Friday, reaching $255.19. The stock had a trading volume of 984,438 shares, compared to its average volume of 599,346. The company has a current ratio of 1.23, a quick ratio of 1.11 and a debt-to-equity ratio of 2.46. CDW Co. has a 12-month low of $160.66 and a 12-month high of $263.37. The company has a 50-day moving average of $245.23 and a 200 day moving average of $224.75. The stock has a market cap of $34.25 billion, a P/E ratio of 31.50, a price-to-earnings-growth ratio of 2.89 and a beta of 1.09.
CDW (NASDAQ:CDW - Get Free Report) last issued its quarterly earnings results on Wednesday, February 7th. The information technology services provider reported $2.57 EPS for the quarter, topping the consensus estimate of $2.56 by $0.01. CDW had a net margin of 5.17% and a return on equity of 73.93%. The business had revenue of $5.02 billion for the quarter, compared to analysts' expectations of $5.32 billion. During the same quarter last year, the company posted $2.40 earnings per share. The company's quarterly revenue was down 7.7% compared to the same quarter last year. On average, research analysts predict that CDW Co. will post 9.88 earnings per share for the current year.
CDW announced that its Board of Directors has approved a stock repurchase plan on Wednesday, February 7th that permits the company to repurchase $750.00 million in outstanding shares. This repurchase authorization permits the information technology services provider to reacquire up to 2.4% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's management believes its shares are undervalued.
CDW Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 12th. Shareholders 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 dividend on an annualized basis and a yield of 0.97%. CDW's dividend payout ratio is currently 30.62%.
CDW Company Profile
(
Free Report)
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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