CDW Co. (NASDAQ:CDW) Shares Acquired by Todd Asset Management LLC

Todd Asset Management LLC increased its position in shares of CDW Co. (NASDAQ:CDW) by 15.2% during the fourth quarter, Holdings Channel reports. The fund owned 126,941 shares of the information technology services provider’s stock after acquiring an additional 16,751 shares during the quarter. Todd Asset Management LLC’s holdings in CDW were worth $28,856,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Raymond James Financial Services Advisors Inc. increased its stake in shares of CDW by 3.4% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 42,212 shares of the information technology services provider’s stock valued at $8,517,000 after acquiring an additional 1,406 shares during the last quarter. Stratos Wealth Partners LTD. increased its position in CDW by 2.2% during the third quarter. Stratos Wealth Partners LTD. now owns 13,325 shares of the information technology services provider’s stock worth $2,689,000 after purchasing an additional 286 shares during the last quarter. Groesbeck Investment Management Corp NJ raised its stake in CDW by 4.9% during the third quarter. Groesbeck Investment Management Corp NJ now owns 14,078 shares of the information technology services provider’s stock worth $2,840,000 after purchasing an additional 652 shares during the period. Sawyer & Company Inc boosted its holdings in shares of CDW by 0.3% in the 3rd quarter. Sawyer & Company Inc now owns 22,484 shares of the information technology services provider’s stock valued at $4,536,000 after purchasing an additional 64 shares during the last quarter. Finally, Verdence Capital Advisors LLC grew its stake in shares of CDW by 3.5% during the 3rd quarter. Verdence Capital Advisors LLC now owns 16,127 shares of the information technology services provider’s stock valued at $3,254,000 after buying an additional 547 shares during the period. 93.15% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on CDW shares. JPMorgan Chase & Co. cut their target price on CDW from $280.00 to $265.00 and set an “overweight” rating on the stock in a research report on Thursday. Evercore ISI lifted their price objective on CDW from $250.00 to $300.00 and gave the company an “outperform” rating in a research note on Friday, March 22nd. Citigroup dropped their target price on shares of CDW from $295.00 to $260.00 and set a “buy” rating for the company in a research report on Thursday. Stifel Nicolaus cut their price target on shares of CDW from $265.00 to $250.00 and set a “buy” rating on the stock in a report on Thursday. Finally, Barclays decreased their price objective on shares of CDW from $261.00 to $232.00 and set an “equal weight” rating for the company in a research note on Thursday. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $247.50.

CDW Stock Up 0.5 %

Shares of CDW traded up $1.15 during mid-day trading on Friday, reaching $219.56. 805,670 shares of the stock traded hands, compared to its average volume of 768,724. The firm has a market cap of $29.51 billion, a price-to-earnings ratio of 27.41, a P/E/G ratio of 2.49 and a beta of 1.09. The stock has a fifty day simple moving average of $245.67 and a 200 day simple moving average of $229.30. The company has a quick ratio of 1.11, a current ratio of 1.26 and a debt-to-equity ratio of 2.35. CDW Co. has a 12-month low of $162.59 and a 12-month high of $263.37.

CDW (NASDAQ:CDW) last released its quarterly earnings results on Wednesday, February 7th. The information technology services provider reported $2.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.56 by $0.01. The firm had revenue of $5.02 billion for 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 firm’s quarterly revenue was down 7.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.40 EPS. Sell-side analysts expect that CDW Co. will post 9.89 EPS for the current fiscal year.

CDW Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 11th. Investors of record on Friday, May 24th will be issued a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a yield of 1.13%. The ex-dividend date is Thursday, May 23rd. CDW’s dividend payout ratio is currently 30.96%.

CDW declared that its Board of Directors has initiated a share buyback plan on Wednesday, February 7th that allows the company to repurchase $750.00 million in outstanding shares. This repurchase authorization allows the information technology services provider to repurchase up to 2.4% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s leadership 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.