Two Creeks Capital Management LP Purchases Shares of 139,559 CDW Co. (NASDAQ:CDW)

Two Creeks Capital Management LP acquired a new position in shares of CDW Co. (NASDAQ:CDW - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 139,559 shares of the information technology services provider's stock, valued at approximately $24,289,000. CDW accounts for about 1.5% of Two Creeks Capital Management LP's investment portfolio, making the stock its 22nd biggest holding. Two Creeks Capital Management LP owned 0.10% of CDW as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Allworth Financial LP increased 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 buying an additional 52 shares during the period. OFI Invest Asset Management bought a new stake in CDW in the fourth quarter valued at about $32,000. Parkside Financial Bank & Trust raised its position in CDW by 38.9% in the fourth quarter. Parkside Financial Bank & Trust now owns 207 shares of the information technology services provider's stock worth $36,000 after purchasing an additional 58 shares in the last quarter. Canoe Financial LP lifted its stake in CDW by 68.3% during the fourth quarter. Canoe Financial LP now owns 276 shares of the information technology services provider's stock worth $48,000 after purchasing an additional 112 shares during the period. Finally, Pilgrim Partners Asia Pte Ltd acquired a new stake in CDW during the fourth quarter valued at approximately $66,000. Institutional investors own 93.15% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently commented on CDW shares. Barclays boosted their price target on CDW from $201.00 to $223.00 and gave the company an "equal weight" rating in a research note on Thursday, February 6th. Citigroup lowered 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. JPMorgan Chase & Co. dropped their target price on shares of CDW from $222.00 to $175.00 and set a "neutral" rating for the company in a research report on Thursday, April 17th. Morgan Stanley boosted their price target on shares of CDW from $193.00 to $201.00 and gave the company an "equal weight" rating in a research report on Thursday, February 6th. Finally, UBS Group dropped their price objective on shares of CDW from $233.00 to $220.00 and set a "buy" rating for the company in a report on Tuesday, January 7th. 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 has an average rating of "Moderate Buy" and an average target price of $217.38.

CDW Trading Down 1.0 %

Shares of NASDAQ:CDW traded down $1.60 during trading on Monday, hitting $156.35. 397,633 shares of the company's stock were exchanged, compared to its average volume of 1,178,812. The firm has a 50-day moving average price of $164.15 and a two-hundred day moving average price of $180.81. CDW Co. has a 1-year low of $137.31 and a 1-year high of $248.12. The firm has a market cap of $20.60 billion, a P/E ratio of 19.60, a PEG ratio of 3.21 and a beta of 0.97. The company has a current ratio of 1.35, a quick ratio of 1.24 and a debt-to-equity ratio of 2.38.

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

CDW Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 11th. Shareholders of record on Tuesday, February 25th were paid a $0.625 dividend. The ex-dividend date of this dividend was Tuesday, February 25th. This represents a $2.50 dividend on an annualized basis and a yield of 1.60%. CDW's payout ratio is 31.37%.

CDW declared that its Board of Directors has authorized a share buyback program on Wednesday, February 5th that authorizes the company to repurchase $750.00 million in shares. This repurchase authorization authorizes the information technology services provider to purchase up to 2.7% of its shares through open market purchases. Shares repurchase programs are often an indication that the company's management believes its shares are undervalued.

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.