Harbour Trust & Investment Management Co Makes New Investment in CDW Co. (NASDAQ:CDW)

Harbour Trust & Investment Management Co bought a new stake in CDW Co. (NASDAQ:CDW - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 18,448 shares of the information technology services provider's stock, valued at approximately $4,194,000.

A number of other institutional investors and hedge funds have also bought and sold shares of CDW. OFI Invest Asset Management purchased a new position in CDW during the third quarter valued at $25,000. VisionPoint Advisory Group LLC purchased a new stake in shares of CDW during the 3rd quarter valued at about $28,000. TFC Financial Management Inc. increased its position in shares of CDW by 61.1% during the 3rd 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 during the last quarter. Orion Capital Management LLC purchased a new stake in CDW in the 3rd quarter worth approximately $35,000. Finally, Altshuler Shaham Ltd purchased a new stake in CDW in the 4th quarter worth approximately $33,000. 93.15% of the stock is owned by hedge funds and other institutional investors.

CDW Trading Down 0.0 %

Shares of CDW stock traded down $0.01 during trading hours on Tuesday, hitting $254.25. The company's stock had a trading volume of 515,577 shares, compared to its average volume of 705,804. CDW Co. has a twelve month low of $160.66 and a twelve month high of $263.37. The firm has a fifty day moving average of $246.21 and a 200-day moving average of $225.44. The stock has a market cap of $34.12 billion, a price-to-earnings ratio of 31.39, a P/E/G ratio of 2.89 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.

CDW (NASDAQ:CDW - Get Free Report) last issued its quarterly earnings results 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. CDW had a return on equity of 73.93% and a net margin of 5.17%. The company had revenue of $5.02 billion for the quarter, compared to the consensus estimate of $5.32 billion. During the same quarter in the prior year, the business earned $2.40 EPS. CDW's revenue was down 7.7% on a year-over-year basis. Research analysts forecast that CDW Co. will post 9.88 EPS for the current year.

CDW Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 12th. Investors of record on Monday, February 26th were given a $0.62 dividend. The ex-dividend date was Friday, February 23rd. This represents a $2.48 dividend on an annualized basis and a dividend yield of 0.98%. CDW's dividend payout ratio (DPR) is presently 30.62%.

CDW announced that its board has approved a stock repurchase plan 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 repurchase up to 2.4% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company's board of directors believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on CDW shares. JPMorgan Chase & Co. upped their price target on CDW from $253.00 to $267.00 and gave the stock an "overweight" rating in a research note on Thursday, February 8th. Barclays increased their target price on CDW from $219.00 to $261.00 and gave the stock an "equal weight" rating in a research note on Thursday, February 8th. Citigroup raised their price target on CDW from $255.00 to $295.00 and gave the company a "buy" rating in a research note on Thursday, April 4th. Morgan Stanley lowered CDW from an "overweight" rating to an "equal weight" rating and set a $216.00 price target on the stock. in a research note on Tuesday, December 12th. Finally, Evercore ISI raised their price objective on CDW from $250.00 to $300.00 and gave the company an "outperform" rating in a research report on Friday, March 22nd. Four investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat, CDW has a consensus rating of "Moderate Buy" and an average price target of $237.60.

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.