Crescent Grove Advisors LLC Has $25.81 Million Stock Position in CDW Co. (NASDAQ:CDW)

Crescent Grove Advisors LLC raised its position in shares of CDW Co. (NASDAQ:CDW - Free Report) by 6.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 113,541 shares of the information technology services provider's stock after acquiring an additional 7,054 shares during the period. CDW makes up approximately 2.8% of Crescent Grove Advisors LLC's investment portfolio, making the stock its 8th largest position. Crescent Grove Advisors LLC owned about 0.08% of CDW worth $25,810,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in the company. Morgan Stanley boosted its stake in shares of CDW by 130.7% in the fourth quarter. Morgan Stanley now owns 2,442,301 shares of the information technology services provider's stock valued at $436,146,000 after buying an additional 1,383,869 shares during the period. Norges Bank bought a new stake in shares of CDW in the fourth quarter valued at approximately $66,992,000. The Manufacturers Life Insurance Company boosted its stake in shares of CDW by 91.8% in the third quarter. The Manufacturers Life Insurance Company now owns 728,446 shares of the information technology services provider's stock valued at $146,971,000 after buying an additional 348,749 shares during the period. Westfield Capital Management Co. LP bought a new stake in shares of CDW in the first quarter valued at approximately $63,265,000. Finally, Lazard Asset Management LLC boosted its stake in shares of CDW by 459.5% in the third quarter. Lazard Asset Management LLC now owns 252,272 shares of the information technology services provider's stock valued at $50,898,000 after buying an additional 207,184 shares during the period. Institutional investors own 93.15% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have commented on CDW. Evercore ISI boosted their price objective on shares of CDW from $250.00 to $300.00 and gave the company an "outperform" rating in a research report on Friday, March 22nd. Citigroup boosted their price objective on shares of CDW from $255.00 to $295.00 and gave the company a "buy" rating in a research report on Thursday, April 4th. JPMorgan Chase & Co. boosted their price objective on shares of CDW from $267.00 to $280.00 and gave the company an "overweight" rating in a research report on Thursday. Finally, Barclays boosted their price objective on shares of CDW from $219.00 to $261.00 and gave the company an "equal weight" rating in a research report on Thursday, February 8th. Four 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, CDW has a consensus rating of "Moderate Buy" and an average target price of $238.90.

CDW Stock Performance

Shares of CDW traded down $1.53 during mid-day trading on Monday, hitting $241.38. The stock had a trading volume of 727,175 shares, compared to its average volume of 707,087. The firm has a market cap of $32.43 billion, a P/E ratio of 29.80, a PEG ratio of 2.75 and a beta of 1.09. The business has a fifty day moving average price of $247.40 and a 200-day moving average price of $226.65. The company has a debt-to-equity ratio of 2.46, a current ratio of 1.23 and a quick ratio of 1.11. 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, beating the consensus estimate of $2.56 by $0.01. The firm had revenue of $5.02 billion for the quarter, compared to analyst estimates of $5.32 billion. CDW had a return on equity of 73.93% and a net margin of 5.17%. The business's revenue was down 7.7% on a year-over-year basis. During the same period in the previous year, the company posted $2.40 earnings per share. On average, equities research analysts expect that CDW Co. will post 9.88 EPS for the current year.

CDW Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 12th. Stockholders of record on Monday, February 26th were issued a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a dividend yield of 1.03%. The ex-dividend date was Friday, February 23rd. CDW's payout ratio is currently 30.62%.

CDW announced that its Board of Directors has authorized a stock repurchase plan on Wednesday, February 7th that authorizes the company to buyback $750.00 million in shares. This buyback authorization authorizes the information technology services provider to purchase up to 2.4% of its stock through open market purchases. Stock buyback plans are often a sign that the company's board of directors believes its stock is 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.

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