Livforsakringsbolaget Skandia Omsesidigt Acquires 352 Shares of CDW Co. (NASDAQ:CDW)

Livforsakringsbolaget Skandia Omsesidigt boosted its holdings in shares of CDW Co. (NASDAQ:CDW) by 117.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 652 shares of the information technology services provider’s stock after purchasing an additional 352 shares during the quarter. Livforsakringsbolaget Skandia Omsesidigt’s holdings in CDW were worth $148,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Raymond James Financial Services Advisors Inc. grew its holdings in CDW by 16.1% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 49,011 shares of the information technology services provider’s stock valued at $11,141,000 after buying an additional 6,799 shares in the last quarter. Pacer Advisors Inc. grew its holdings in CDW by 84.9% during the 4th quarter. Pacer Advisors Inc. now owns 15,924 shares of the information technology services provider’s stock valued at $3,620,000 after buying an additional 7,310 shares in the last quarter. JGP Wealth Management LLC purchased a new position in CDW during the 4th quarter valued at approximately $1,559,000. California Public Employees Retirement System boosted its holdings in shares of CDW by 1.0% in the 3rd quarter. California Public Employees Retirement System now owns 819,011 shares of the information technology services provider’s stock worth $165,244,000 after purchasing an additional 7,854 shares during the period. Finally, Amalgamated Bank boosted its holdings in shares of CDW by 22.0% in the 3rd quarter. Amalgamated Bank now owns 44,774 shares of the information technology services provider’s stock worth $9,034,000 after purchasing an additional 8,063 shares during the period. Institutional investors own 93.15% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on CDW shares. Citigroup lifted their target price on CDW from $255.00 to $295.00 and gave the stock a “buy” rating in a report on Thursday, April 4th. JPMorgan Chase & Co. boosted their price objective on CDW from $267.00 to $280.00 and gave the company an “overweight” rating in a report on Thursday, April 11th. Evercore ISI boosted their price objective on CDW from $250.00 to $300.00 and gave the company an “outperform” rating in a report on Friday, March 22nd. Finally, Barclays boosted their price objective on CDW from $219.00 to $261.00 and gave the company an “equal weight” rating in a report on Thursday, February 8th. Four analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $238.90.

CDW Trading Down 0.5 %

Shares of NASDAQ CDW opened at $235.70 on Friday. The company has a quick ratio of 1.11, a current ratio of 1.23 and a debt-to-equity ratio of 2.46. The business has a fifty day simple moving average of $247.41 and a two-hundred day simple moving average of $227.05. The firm has a market cap of $31.67 billion, a PE ratio of 29.10, a price-to-earnings-growth ratio of 2.68 and a beta of 1.09. CDW Co. has a twelve month low of $160.66 and a twelve month high of $263.37.

CDW (NASDAQ:CDW) last issued its earnings results on Wednesday, February 7th. The information technology services provider reported $2.57 earnings per share for the quarter, beating analysts’ consensus estimates of $2.56 by $0.01. The business had revenue of $5.02 billion during the quarter, compared to analyst estimates of $5.32 billion. CDW had a return on equity of 73.93% and a net margin of 5.17%. CDW’s revenue was down 7.7% on a year-over-year basis. During the same period in the previous year, the company posted $2.40 EPS. Analysts expect that CDW Co. will post 9.89 earnings per share for the current fiscal year.

CDW Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 12th. Stockholders of record on Monday, February 26th were given a $0.62 dividend. This represents a $2.48 annualized dividend and a dividend yield of 1.05%. The ex-dividend date of this dividend was Friday, February 23rd. CDW’s payout ratio is 30.62%.

CDW declared that its board has approved a stock buyback program on Wednesday, February 7th that authorizes the company to repurchase $750.00 million in shares. This repurchase authorization authorizes the information technology services provider to repurchase up to 2.4% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its stock is 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.