Sequoia Financial Advisors LLC boosted its holdings in shares of CDW Co. (NASDAQ:CDW - Free Report) by 804.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 28,410 shares of the information technology services provider's stock after purchasing an additional 25,268 shares during the quarter. Sequoia Financial Advisors LLC's holdings in CDW were worth $6,458,000 as of its most recent SEC filing.
Other institutional investors have also bought and sold shares of the company. OFI Invest Asset Management purchased a new position in shares of CDW in the 3rd quarter worth approximately $25,000. VisionPoint Advisory Group LLC purchased a new position in CDW during the third quarter worth $28,000. TFC Financial Management Inc. increased its position in CDW by 61.1% during the third 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. Orion Capital Management LLC purchased a new stake in shares of CDW in the third quarter valued at $35,000. Finally, Altshuler Shaham Ltd bought a new stake in shares of CDW in the 4th quarter worth about $33,000. Institutional investors own 93.15% of the company's stock.
CDW Stock Up 0.3 %
Shares of CDW traded up $0.72 during midday trading on Thursday, reaching $248.00. 658,183 shares of the stock were exchanged, compared to its average volume of 704,770. The company has a current ratio of 1.23, a quick ratio of 1.11 and a debt-to-equity ratio of 2.46. The company's 50 day moving average is $246.98 and its two-hundred day moving average is $225.74. The company has a market capitalization of $33.28 billion, a P/E ratio of 30.62, a PEG ratio of 2.88 and a beta of 1.09. CDW Co. has a 52 week low of $160.66 and a 52 week high of $263.37.
CDW (NASDAQ:CDW - Get Free Report) last issued its earnings results on Wednesday, February 7th. The information technology services provider reported $2.57 earnings per share (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 company had revenue of $5.02 billion for the quarter, compared to analysts' expectations of $5.32 billion. During the same period in the prior year, the business earned $2.40 EPS. The firm's quarterly revenue was down 7.7% on a year-over-year basis. On average, sell-side analysts anticipate that CDW Co. will post 9.88 earnings per share for the current year.
CDW Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Tuesday, March 12th. Shareholders of record on Monday, February 26th were issued a dividend of $0.62 per share. The ex-dividend date of this dividend was Friday, February 23rd. This represents a $2.48 dividend on an annualized basis and a yield of 1.00%. CDW's dividend payout ratio is currently 30.62%.
CDW declared that its Board of Directors has initiated a share repurchase program 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 shares through open market purchases. Shares repurchase programs are often an indication that the company's leadership believes its shares are undervalued.
Wall Street Analysts Forecast Growth
Several equities analysts recently commented on CDW shares. JPMorgan Chase & Co. upped their price target on shares of CDW from $267.00 to $280.00 and gave the company an "overweight" rating in a report on Thursday. Evercore ISI increased their price target on CDW from $250.00 to $300.00 and gave the stock an "outperform" rating in a report on Friday, March 22nd. Barclays boosted their price objective on CDW from $219.00 to $261.00 and gave the company an "equal weight" rating in a report on Thursday, February 8th. Finally, Citigroup increased their target price on CDW from $255.00 to $295.00 and gave the stock a "buy" rating in a research note on Thursday, April 4th. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $238.90.
Check Out Our Latest Research Report on CDW
CDW 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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