Charles Schwab Investment Management Inc. Grows Position in CDW Co. (NASDAQ:CDW)

Charles Schwab Investment Management Inc. lifted its stake in shares of CDW Co. (NASDAQ:CDW) by 2.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 741,397 shares of the information technology services provider’s stock after acquiring an additional 16,923 shares during the period. Charles Schwab Investment Management Inc. owned 0.55% of CDW worth $168,534,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CDW. OFI Invest Asset Management purchased a new position in CDW during the third quarter worth about $25,000. VisionPoint Advisory Group LLC purchased a new position in shares of CDW during the 3rd quarter worth about $28,000. Larson Financial Group LLC acquired a new stake in shares of CDW in the fourth quarter worth approximately $30,000. Orion Capital Management LLC purchased a new stake in CDW in the third quarter valued at approximately $35,000. Finally, ORG Partners LLC purchased a new stake in CDW in the fourth quarter valued at approximately $36,000. Hedge funds and other institutional investors own 93.15% of the company’s stock.

CDW Trading Up 1.2 %

NASDAQ:CDW opened at $222.97 on Friday. CDW Co. has a 12 month low of $166.37 and a 12 month high of $263.37. The business’s 50-day moving average is $243.76 and its two-hundred day moving average is $229.63. The company has a debt-to-equity ratio of 2.35, a current ratio of 1.26 and a quick ratio of 1.13. The firm has a market capitalization of $29.97 billion, a PE ratio of 27.84, a price-to-earnings-growth ratio of 3.16 and a beta of 1.09.

CDW (NASDAQ:CDW) last released its quarterly earnings results on Wednesday, February 7th. The information technology services provider reported $2.57 EPS for the quarter, topping the consensus estimate of $2.56 by $0.01. CDW had a return on equity of 67.56% and a net margin of 5.16%. The firm 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. CDW’s revenue for the quarter was down 7.7% on a year-over-year basis. Research analysts predict that CDW Co. will post 9.89 earnings per share for the current fiscal year.

CDW Dividend Announcement

The company 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 dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a yield of 1.11%. The ex-dividend date is Thursday, May 23rd. CDW’s payout ratio is 30.96%.

CDW declared that its Board of Directors has approved a share repurchase program on Wednesday, February 7th 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 2.4% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

CDW has been the topic of a number of recent analyst reports. Barclays decreased their price target on shares of CDW from $261.00 to $232.00 and set an “equal weight” rating on the stock in a report on Thursday, May 2nd. Citigroup cut their target price on CDW from $295.00 to $260.00 and set a “buy” rating on the stock in a research report on Thursday, May 2nd. Evercore ISI boosted their price target on CDW from $250.00 to $300.00 and gave the company an “outperform” rating in a research report on Friday, March 22nd. JPMorgan Chase & Co. cut their price objective on CDW from $280.00 to $265.00 and set an “overweight” rating on the stock in a report on Thursday, May 2nd. Finally, Stifel Nicolaus reduced their price objective on CDW from $265.00 to $250.00 and set a “buy” rating on the stock in a research note on Thursday, May 2nd. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $247.50.

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.