River Global Investors LLP Invests $4.73 Million in CDW Co. (NASDAQ:CDW)

River Global Investors LLP purchased a new position in shares of CDW Co. (NASDAQ:CDW - Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 20,810 shares of the information technology services provider's stock, valued at approximately $4,732,000. CDW accounts for approximately 0.9% of River Global Investors LLP's portfolio, making the stock its 25th biggest holding.

Several other institutional investors and hedge funds also recently made changes to their positions in CDW. Raymond James Financial Services Advisors Inc. boosted its stake in CDW by 3.4% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 42,212 shares of the information technology services provider's stock worth $8,517,000 after purchasing an additional 1,406 shares during the period. Stratos Wealth Partners LTD. boosted its stake in CDW by 2.2% in the 3rd quarter. Stratos Wealth Partners LTD. now owns 13,325 shares of the information technology services provider's stock worth $2,689,000 after purchasing an additional 286 shares during the period. Groesbeck Investment Management Corp NJ boosted its stake in CDW by 4.9% in the 3rd quarter. Groesbeck Investment Management Corp NJ now owns 14,078 shares of the information technology services provider's stock worth $2,840,000 after purchasing an additional 652 shares during the period. Sawyer & Company Inc boosted its stake in CDW by 0.3% in the 3rd quarter. Sawyer & Company Inc now owns 22,484 shares of the information technology services provider's stock worth $4,536,000 after purchasing an additional 64 shares during the period. Finally, Verdence Capital Advisors LLC boosted its stake in CDW by 3.5% in the 3rd quarter. Verdence Capital Advisors LLC now owns 16,127 shares of the information technology services provider's stock worth $3,254,000 after purchasing an additional 547 shares during the period. Institutional investors own 93.15% of the company's stock.

CDW Price Performance

Shares of NASDAQ CDW traded up $1.15 during trading hours on Friday, reaching $219.56. 805,670 shares of the stock traded hands, compared to its average volume of 768,724. The company has a market capitalization of $29.51 billion, a P/E ratio of 27.41, a price-to-earnings-growth ratio of 2.47 and a beta of 1.09. The company has a quick ratio of 1.11, a current ratio of 1.26 and a debt-to-equity ratio of 2.35. CDW Co. has a 52-week low of $162.59 and a 52-week high of $263.37. The company's 50-day simple moving average is $245.67 and its two-hundred day simple moving average is $229.30.

CDW (NASDAQ:CDW - Get Free Report) last announced its quarterly earnings data on Wednesday, February 7th. The information technology services provider reported $2.57 earnings per share for the quarter, beating 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 return on equity of 67.56% and a net margin of 5.16%. CDW's revenue for the quarter was down 7.7% compared to the same quarter last year. During the same period last year, the firm posted $2.40 EPS. Equities research analysts forecast that CDW Co. will post 9.89 EPS for the current year.

CDW declared that its board has initiated a stock buyback plan on Wednesday, February 7th that allows the company to buyback $750.00 million in outstanding shares. This buyback authorization allows the information technology services provider to repurchase up to 2.4% of its shares through open market purchases. Shares buyback plans are usually a sign that the company's board believes its shares are undervalued.

CDW Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 11th. Shareholders of record on Friday, May 24th will be paid a $0.62 dividend. The ex-dividend date of this dividend is Thursday, May 23rd. This represents a $2.48 dividend on an annualized basis and a yield of 1.13%. CDW's dividend payout ratio (DPR) is currently 30.96%.

Analyst Ratings Changes

Several research analysts have commented on CDW shares. Citigroup cut their target price on CDW from $295.00 to $260.00 and set a "buy" rating for the company in a research note on Thursday. JPMorgan Chase & Co. dropped their price target on CDW from $280.00 to $265.00 and set an "overweight" rating for the company in a research report on Thursday. Evercore ISI lifted their price target on CDW from $250.00 to $300.00 and gave the company an "outperform" rating in a research report on Friday, March 22nd. Stifel Nicolaus dropped their price target on CDW from $265.00 to $250.00 and set a "buy" rating for the company in a research report on Thursday. Finally, Barclays dropped their price target on CDW from $261.00 to $232.00 and set an "equal weight" rating for the company in a research report on Thursday. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $235.50.

CDW 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.