Handelsbanken Fonder AB Has $5.48 Million Stake in CDW Co. (NASDAQ:CDW)

Handelsbanken Fonder AB grew its position in CDW Co. (NASDAQ:CDW - Free Report) by 38.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,122 shares of the information technology services provider's stock after purchasing an additional 6,743 shares during the period. Handelsbanken Fonder AB's holdings in CDW were worth $5,483,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. OFI Invest Asset Management acquired a new position in shares of CDW in the 3rd quarter valued at about $25,000. VisionPoint Advisory Group LLC acquired a new position in shares of CDW in the 3rd quarter valued at about $28,000. TFC Financial Management Inc. lifted its position in CDW by 61.1% during the 3rd quarter. TFC Financial Management Inc. now owns 145 shares of the information technology services provider's stock worth $29,000 after acquiring an additional 55 shares in the last quarter. Orion Capital Management LLC acquired a new position in CDW during the 3rd quarter worth approximately $35,000. Finally, ORG Partners LLC acquired a new position in CDW during the 4th quarter worth approximately $36,000. 93.15% of the stock is owned by institutional investors and hedge funds.

CDW Stock Down 0.5 %

CDW stock traded down $1.16 during midday trading on Friday, hitting $242.26. 424,550 shares of the company's stock were exchanged, compared to its average volume of 693,277. 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 $162.59 and a 12-month high of $263.37. The firm has a 50 day moving average price of $247.23 and a 200-day moving average price of $228.31. The stock has a market capitalization of $32.55 billion, a price-to-earnings ratio of 30.01, a price-to-earnings-growth ratio of 2.73 and a beta of 1.09.

CDW (NASDAQ:CDW - Get Free Report) last posted its quarterly earnings data 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 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 period in the previous year, the business earned $2.40 EPS. CDW's revenue for the quarter was down 7.7% compared to the same quarter last year. On average, analysts anticipate that CDW Co. will post 9.89 EPS for the current year.

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

CDW Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 12th. Stockholders 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 dividend yield of 1.02%. CDW's dividend payout ratio (DPR) is 30.62%.

Analyst Upgrades and Downgrades

CDW has been the topic of several recent research reports. Evercore ISI boosted their price target on CDW from $250.00 to $300.00 and gave the stock an "outperform" rating in a research report on Friday, March 22nd. JPMorgan Chase & Co. boosted their price target on CDW from $267.00 to $280.00 and gave the stock an "overweight" rating in a research report on Thursday, April 11th. Citigroup boosted their price target on CDW from $255.00 to $295.00 and gave the stock a "buy" rating in a research report on Thursday, April 4th. Finally, Barclays boosted their price target on CDW from $219.00 to $261.00 and gave the stock an "equal weight" rating in a research report on Thursday, February 8th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $242.67.

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.