CDW Co. (NASDAQ:CDW) Stock Holdings Lifted by Groesbeck Investment Management Corp NJ

Groesbeck Investment Management Corp NJ lifted its stake in shares of CDW Co. (NASDAQ:CDW) by 0.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 14,134 shares of the information technology services provider’s stock after buying an additional 56 shares during the period. CDW comprises about 4.4% of Groesbeck Investment Management Corp NJ’s holdings, making the stock its 4th largest position. Groesbeck Investment Management Corp NJ’s holdings in CDW were worth $3,213,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of the stock. Livforsakringsbolaget Skandia Omsesidigt boosted its position in shares of CDW by 117.3% during the fourth quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 652 shares of the information technology services provider’s stock valued at $148,000 after buying an additional 352 shares during the last quarter. Daiwa Securities Group Inc. boosted its position in CDW by 32.4% in the fourth quarter. Daiwa Securities Group Inc. now owns 18,371 shares of the information technology services provider’s stock worth $4,176,000 after purchasing an additional 4,498 shares during the last quarter. Oakworth Capital Inc. purchased a new position in CDW in the fourth quarter worth $36,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in CDW by 6.4% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 25,350 shares of the information technology services provider’s stock worth $5,763,000 after purchasing an additional 1,525 shares during the last quarter. Finally, Crescent Grove Advisors LLC boosted its position in CDW by 6.6% in the fourth quarter. Crescent Grove Advisors LLC now owns 113,541 shares of the information technology services provider’s stock worth $25,810,000 after purchasing an additional 7,054 shares during the last quarter. Hedge funds and other institutional investors own 93.15% of the company’s stock.

CDW Stock Performance

Shares of NASDAQ CDW traded up $0.58 during trading on Thursday, reaching $237.36. 86,388 shares of the stock traded hands, compared to its average volume of 701,298. CDW Co. has a 52-week low of $160.66 and a 52-week high of $263.37. The company has a debt-to-equity ratio of 2.46, a current ratio of 1.23 and a quick ratio of 1.11. The company has a 50-day moving average of $247.57 and a 200-day moving average of $226.99. The stock has a market capitalization of $31.89 billion, a P/E ratio of 29.34, a price-to-earnings-growth ratio of 2.72 and a beta of 1.09.

CDW (NASDAQ:CDW) last released its quarterly earnings data on Wednesday, February 7th. The information technology services provider reported $2.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.56 by $0.01. CDW had a return on equity of 73.93% and a net margin of 5.17%. The company had revenue of $5.02 billion for the quarter, compared to analyst estimates of $5.32 billion. During the same period in the previous year, the company posted $2.40 EPS. The firm’s revenue for the quarter was down 7.7% compared to the same quarter last year. Analysts forecast that CDW Co. will post 9.88 EPS for the current fiscal year.

CDW announced that its board has initiated a share repurchase plan 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 repurchase up to 2.4% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its stock is undervalued.

CDW Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 12th. Investors of record on Monday, February 26th were paid a dividend of $0.62 per share. The ex-dividend date of this dividend was Friday, February 23rd. This represents a $2.48 dividend on an annualized basis and a dividend yield of 1.04%. CDW’s payout ratio is 30.62%.

Analyst Ratings Changes

Several research firms have weighed in on CDW. JPMorgan Chase & Co. boosted their price objective on CDW from $267.00 to $280.00 and gave the stock an “overweight” rating in a research report on Thursday, April 11th. Barclays boosted their price objective on CDW from $219.00 to $261.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 8th. Citigroup boosted their price objective on CDW from $255.00 to $295.00 and gave the stock a “buy” rating in a research report on Thursday, April 4th. Finally, Evercore ISI boosted their price objective on CDW from $250.00 to $300.00 and gave the stock an “outperform” rating in a research report on Friday, March 22nd. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $238.90.

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.