National Bank of Canada FI Buys 18,696 Shares of CDW Co. (NASDAQ:CDW)

National Bank of Canada FI boosted its position in shares of CDW Co. (NASDAQ:CDW - Free Report) by 21.2% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 106,695 shares of the information technology services provider's stock after purchasing an additional 18,696 shares during the period. National Bank of Canada FI owned 0.08% of CDW worth $23,544,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vestmark Advisory Solutions Inc. boosted its stake in shares of CDW by 107.5% during the 4th quarter. Vestmark Advisory Solutions Inc. now owns 4,110 shares of the information technology services provider's stock valued at $934,000 after buying an additional 2,129 shares during the period. Todd Asset Management LLC boosted its stake in shares of CDW by 15.2% during the 4th quarter. Todd Asset Management LLC now owns 126,941 shares of the information technology services provider's stock valued at $28,856,000 after buying an additional 16,751 shares during the period. Benjamin F. Edwards & Company Inc. boosted its stake in shares of CDW by 156.4% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 382 shares of the information technology services provider's stock valued at $87,000 after buying an additional 233 shares during the period. SRS Capital Advisors Inc. boosted its stake in shares of CDW by 39.9% during the 4th quarter. SRS Capital Advisors Inc. now owns 1,104 shares of the information technology services provider's stock valued at $251,000 after buying an additional 315 shares during the period. Finally, Los Angeles Capital Management LLC acquired a new stake in shares of CDW during the 4th quarter valued at $2,488,000. 93.15% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Stifel Nicolaus reduced their price objective on shares of CDW from $265.00 to $250.00 and set a "buy" rating for the company in a research note on Thursday, May 2nd. Barclays reduced their price objective on shares of CDW from $261.00 to $232.00 and set an "equal weight" rating for the company in a research note on Thursday, May 2nd. Evercore ISI lifted their target price on shares of CDW from $250.00 to $300.00 and gave the stock an "outperform" rating in a report on Friday, March 22nd. Citigroup dropped their target price on shares of CDW from $295.00 to $260.00 and set a "buy" rating on the stock in a report on Thursday, May 2nd. Finally, JPMorgan Chase & Co. dropped their target price on shares of CDW from $280.00 to $265.00 and set an "overweight" rating on the stock in a report on Thursday, May 2nd. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $247.50.

CDW Trading Down 0.5 %

NASDAQ CDW traded down $1.14 during trading hours on Tuesday, hitting $220.68. The company's stock had a trading volume of 766,491 shares, compared to its average volume of 722,273. The stock has a fifty day moving average of $244.71 and a 200 day moving average of $229.74. CDW Co. has a twelve month low of $164.62 and a twelve month high of $263.37. The firm has a market capitalization of $29.66 billion, a P/E ratio of 27.55, a PEG ratio of 3.16 and a beta of 1.09. The company has a quick ratio of 1.13, a current ratio of 1.26 and a debt-to-equity ratio of 2.35.

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 the consensus estimate of $2.56 by $0.01. The business had revenue of $5.02 billion for the quarter, compared to analyst estimates of $5.32 billion. CDW had a net margin of 5.16% and a return on equity of 67.56%. CDW's revenue was down 7.7% compared to the same quarter last year. During the same period in the prior year, the business posted $2.40 earnings per share. Equities research analysts forecast that CDW Co. will post 9.89 earnings per share for the current fiscal year.

CDW announced that its Board of Directors has approved a share repurchase program on Wednesday, February 7th that authorizes the company to buyback $750.00 million in outstanding 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 programs are typically an indication that the company's leadership believes its stock is undervalued.

CDW Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 11th. Shareholders of record on Friday, May 24th will be issued a $0.62 dividend. The ex-dividend date is Thursday, May 23rd. This represents a $2.48 annualized dividend and a yield of 1.12%. CDW's dividend payout ratio (DPR) is presently 30.96%.

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.