Victory Capital Management Inc. Purchases 36,648 Shares of CDW Co. (NASDAQ:CDW)

Victory Capital Management Inc. boosted its stake in CDW Co. (NASDAQ:CDW - Free Report) by 35.7% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 139,441 shares of the information technology services provider's stock after buying an additional 36,648 shares during the period. Victory Capital Management Inc. owned 0.10% of CDW worth $31,698,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Scotia Capital Inc. lifted its holdings in CDW by 1.5% in the 3rd quarter. Scotia Capital Inc. now owns 3,495 shares of the information technology services provider's stock valued at $705,000 after acquiring an additional 50 shares during the last quarter. Diversified Trust Co grew its position in CDW by 4.6% in the fourth quarter. Diversified Trust Co now owns 1,157 shares of the information technology services provider's stock worth $263,000 after buying an additional 51 shares during the last quarter. Phoenix Holdings Ltd. lifted its position in shares of CDW by 4.3% during the 3rd quarter. Phoenix Holdings Ltd. now owns 1,262 shares of the information technology services provider's stock valued at $257,000 after acquiring an additional 52 shares during the last quarter. Fidelis Capital Partners LLC boosted its stake in shares of CDW by 4.5% during the 4th quarter. Fidelis Capital Partners LLC now owns 1,229 shares of the information technology services provider's stock worth $279,000 after acquiring an additional 53 shares in the last quarter. Finally, Contravisory Investment Management Inc. grew its holdings in shares of CDW by 2.1% in the 4th quarter. Contravisory Investment Management Inc. now owns 2,731 shares of the information technology services provider's stock worth $621,000 after acquiring an additional 56 shares during the last quarter. 93.15% of the stock is currently owned by institutional investors.

CDW Stock Down 0.2 %

CDW stock traded down $0.36 during mid-day trading on Wednesday, hitting $220.32. The stock had a trading volume of 753,675 shares, compared to its average volume of 722,447. The stock has a market capitalization of $29.61 billion, a price-to-earnings ratio of 27.51, a PEG ratio of 3.16 and a beta of 1.09. The company has a current ratio of 1.26, a quick ratio of 1.13 and a debt-to-equity ratio of 2.35. CDW Co. has a 1-year low of $164.62 and a 1-year high of $263.37. The company has a fifty day moving average of $244.71 and a 200 day moving average of $229.74.

CDW (NASDAQ:CDW - Get Free Report) last posted its earnings results on Wednesday, February 7th. The information technology services provider reported $2.57 EPS for the quarter, topping the consensus estimate of $2.56 by $0.01. The company had revenue of $5.02 billion during the quarter, compared to the consensus estimate of $5.32 billion. CDW had a net margin of 5.16% and a return on equity of 67.56%. The company's revenue for the quarter was down 7.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.40 earnings per share. On average, equities analysts expect that CDW Co. will post 9.89 EPS for the current fiscal year.

CDW announced that its Board of Directors has authorized a share buyback program 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 repurchase up to 2.4% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company's management believes its shares are undervalued.

CDW Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the company. Citigroup decreased their price target on CDW from $295.00 to $260.00 and set a "buy" rating for the company in a research report on Thursday, May 2nd. Barclays cut their price target on shares of CDW from $261.00 to $232.00 and set an "equal weight" rating on the stock in a report on Thursday, May 2nd. Stifel Nicolaus decreased 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. Evercore ISI boosted their target price on shares of CDW from $250.00 to $300.00 and gave the company an "outperform" rating in a research note on Friday, March 22nd. Finally, JPMorgan Chase & Co. decreased their target price on CDW from $280.00 to $265.00 and set an "overweight" rating for the company in a research report on Thursday, May 2nd. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat, CDW has a consensus rating of "Moderate Buy" and a consensus price target of $247.50.

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.