Daiwa Securities Group Inc. lifted its holdings in shares of CDW Co. (NASDAQ:CDW - Free Report) by 32.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,371 shares of the information technology services provider's stock after buying an additional 4,498 shares during the quarter. Daiwa Securities Group Inc.'s holdings in CDW were worth $4,176,000 at the end of the most recent quarter.
A number of other institutional investors also recently modified their holdings of the business. OFI Invest Asset Management purchased a new stake in CDW in the 3rd quarter worth approximately $25,000. VisionPoint Advisory Group LLC purchased a new stake in CDW in the 3rd quarter worth approximately $28,000. TFC Financial Management Inc. lifted its stake 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 worth $29,000 after purchasing an additional 55 shares in the last quarter. ORG Partners LLC purchased a new stake in CDW in the 4th quarter worth approximately $36,000. Finally, Oakworth Capital Inc. purchased a new stake in CDW in the 4th quarter worth approximately $36,000. 93.15% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
Several analysts have issued reports on the stock. Evercore ISI increased their target price on shares of CDW from $250.00 to $300.00 and gave the stock an "outperform" rating in a research note on Friday, March 22nd. JPMorgan Chase & Co. raised 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, April 11th. Citigroup raised 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. Finally, Barclays raised 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. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $242.67.
Check Out Our Latest Analysis on CDW
CDW Trading Up 0.0 %
NASDAQ:CDW traded up $0.08 during trading hours on Friday, reaching $235.78. The company's stock had a trading volume of 593,266 shares, compared to its average volume of 587,711. The firm has a market capitalization of $31.68 billion, a price-to-earnings ratio of 29.11, a PEG ratio of 2.67 and a beta of 1.09. The firm has a 50-day simple moving average of $247.22 and a 200-day simple moving average of $227.63. CDW Co. has a 1 year low of $161.53 and a 1 year high of $263.37. 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 earnings results on Wednesday, February 7th. The information technology services provider reported $2.57 EPS for the quarter, topping analysts' consensus estimates of $2.56 by $0.01. The company had revenue of $5.02 billion for the quarter, compared to analysts' expectations of $5.32 billion. CDW had a net margin of 5.17% and a return on equity of 73.93%. The firm's revenue was down 7.7% compared to the same quarter last year. During the same quarter last year, the company earned $2.40 EPS. Research analysts expect that CDW Co. will post 9.89 EPS for the current fiscal year.
CDW declared that its board has initiated a share 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 buy 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 company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 12th. Shareholders of record on Monday, February 26th were given a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a dividend yield of 1.05%. The ex-dividend date was Friday, February 23rd. CDW's payout ratio is 30.62%.
About CDW
(
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.
See Also
Before you consider CDW, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and CDW wasn't on the list.
While CDW currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
As the AI market heats up, investors who have a vision for artificial intelligence have the potential to see real returns. Learn about the industry as a whole as well as seven companies that are getting work done with the power of AI.
Get This Free Report
