Stifel Financial Corp Buys 14,234 Shares of CDW Co. (NASDAQ:CDW)

Stifel Financial Corp lifted its stake in shares of CDW Co. (NASDAQ:CDW - Free Report) by 19.1% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 88,663 shares of the information technology services provider's stock after buying an additional 14,234 shares during the quarter. Stifel Financial Corp owned about 0.07% of CDW worth $15,431,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of CDW. Allworth Financial LP raised its holdings in CDW by 39.7% in the 4th quarter. Allworth Financial LP now owns 183 shares of the information technology services provider's stock valued at $32,000 after acquiring an additional 52 shares in the last quarter. OFI Invest Asset Management bought a new stake in CDW during the fourth quarter worth about $32,000. Parkside Financial Bank & Trust grew its stake in CDW by 38.9% during the fourth quarter. Parkside Financial Bank & Trust now owns 207 shares of the information technology services provider's stock worth $36,000 after buying an additional 58 shares in the last quarter. Canoe Financial LP increased its holdings in CDW by 68.3% in the 4th quarter. Canoe Financial LP now owns 276 shares of the information technology services provider's stock valued at $48,000 after buying an additional 112 shares during the period. Finally, Pilgrim Partners Asia Pte Ltd bought a new position in CDW in the 4th quarter valued at about $66,000. Institutional investors own 93.15% of the company's stock.

Wall Street Analyst Weigh In

CDW has been the topic of a number of research analyst reports. UBS Group reduced their target price on CDW from $233.00 to $220.00 and set a "buy" rating on the stock in a report on Tuesday, January 7th. Citigroup reduced their target price on shares of CDW from $220.00 to $160.00 and set a "neutral" rating on the stock in a report on Monday, April 14th. Barclays boosted their price objective on shares of CDW from $201.00 to $223.00 and gave the stock an "equal weight" rating in a research note on Thursday, February 6th. JPMorgan Chase & Co. reduced their target price on CDW from $222.00 to $175.00 and set a "neutral" rating on the stock in a report on Thursday, April 17th. Finally, Morgan Stanley raised their price target on shares of CDW from $193.00 to $201.00 and gave the stock an "equal weight" rating in a report on Thursday, February 6th. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $217.38.

CDW Stock Up 3.1 %

CDW stock traded up $5.07 during mid-day trading on Friday, reaching $167.47. The stock had a trading volume of 617,628 shares, compared to its average volume of 1,177,142. The firm has a market capitalization of $22.07 billion, a PE ratio of 21.01, a price-to-earnings-growth ratio of 3.21 and a beta of 0.97. The stock's 50-day simple moving average is $161.77 and its 200-day simple moving average is $179.67. The company has a debt-to-equity ratio of 2.38, a quick ratio of 1.24 and a current ratio of 1.35. CDW Co. has a fifty-two week low of $137.31 and a fifty-two week high of $241.26.

CDW (NASDAQ:CDW - Get Free Report) last announced its earnings results on Wednesday, February 5th. The information technology services provider reported $2.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.33 by $0.07. CDW had a return on equity of 55.42% and a net margin of 5.13%. On average, sell-side analysts forecast that CDW Co. will post 9.41 EPS for the current fiscal year.

CDW declared that its board has approved a stock repurchase plan on Wednesday, February 5th that permits the company to repurchase $750.00 million in outstanding shares. This repurchase authorization permits the information technology services provider to buy up to 2.7% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company's management believes its shares are undervalued.

CDW Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 11th. Stockholders of record on Tuesday, February 25th were issued a $0.625 dividend. The ex-dividend date of this dividend was Tuesday, February 25th. This represents a $2.50 annualized dividend and a dividend yield of 1.49%. CDW's dividend payout ratio is currently 31.37%.

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.