Unique Wealth Strategies LLC Purchases Shares of 3,169 CDW Co. (NASDAQ:CDW)

Unique Wealth Strategies LLC purchased a new stake in CDW Co. (NASDAQ:CDW - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 3,169 shares of the information technology services provider's stock, valued at approximately $720,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Alliance Wealth Advisors LLC UT increased its position in CDW by 5.2% during the fourth quarter. Alliance Wealth Advisors LLC UT now owns 2,814 shares of the information technology services provider's stock worth $640,000 after acquiring an additional 139 shares during the period. Russell Investments Group Ltd. increased its position in CDW by 35.9% during the fourth quarter. Russell Investments Group Ltd. now owns 60,057 shares of the information technology services provider's stock worth $13,678,000 after acquiring an additional 15,856 shares during the period. Delta Investment Management LLC increased its position in CDW by 50.0% during the fourth quarter. Delta Investment Management LLC now owns 3,495 shares of the information technology services provider's stock worth $795,000 after acquiring an additional 1,165 shares during the period. Community Bank N.A. bought a new position in CDW during the fourth quarter worth $202,000. Finally, Tokio Marine Asset Management Co. Ltd. increased its position in CDW by 7.7% during the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 3,399 shares of the information technology services provider's stock worth $773,000 after acquiring an additional 244 shares during the period. Institutional investors own 93.15% of the company's stock.

CDW Price Performance

Shares of NASDAQ:CDW traded down $1.16 on Friday, hitting $242.26. The stock had a trading volume of 424,550 shares, compared to its average volume of 592,743. CDW Co. has a twelve month low of $162.59 and a twelve month 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. The firm's 50 day moving average price is $247.25 and its 200-day moving average price is $228.55. The company has a market capitalization of $32.55 billion, a price-to-earnings ratio of 29.91, a price-to-earnings-growth ratio of 2.76 and a beta of 1.09.

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, beating 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 the consensus estimate of $5.32 billion. During the same quarter in the previous year, the company earned $2.40 EPS. The firm's revenue for the quarter was down 7.7% compared to the same quarter last year. On average, equities research analysts predict that CDW Co. will post 9.89 earnings per share for the current year.

CDW declared that its board has initiated a share buyback 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 purchase up to 2.4% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company's leadership believes its stock is undervalued.

CDW Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 12th. Investors of record on Monday, February 26th were issued a $0.62 dividend. The ex-dividend date of this dividend 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 is 30.62%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. Evercore ISI lifted their price target 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. lifted their price target on shares of CDW from $267.00 to $280.00 and gave the stock an "overweight" rating in a research note on Thursday, April 11th. Barclays lifted their price target on shares of CDW from $219.00 to $261.00 and gave the stock an "equal weight" rating in a research note on Thursday, February 8th. Finally, Citigroup lifted their price target on shares of CDW from $255.00 to $295.00 and gave the stock a "buy" rating in a research note on Thursday, April 4th. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $242.67.

About CDW

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.