CDW Co. (NASDAQ:CDW) Shares Purchased by Corient Private Wealth LLC

Corient Private Wealth LLC boosted its position in CDW Co. (NASDAQ:CDW) by 22.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 102,621 shares of the information technology services provider’s stock after acquiring an additional 18,577 shares during the quarter. Corient Private Wealth LLC owned 0.08% of CDW worth $23,328,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently modified their holdings of CDW. Nisa Investment Advisors LLC lifted its stake in shares of CDW by 14.3% during the third quarter. Nisa Investment Advisors LLC now owns 6,004 shares of the information technology services provider’s stock worth $1,211,000 after purchasing an additional 750 shares in the last quarter. US Bancorp DE increased its holdings in CDW by 2.0% in the third quarter. US Bancorp DE now owns 47,213 shares of the information technology services provider’s stock valued at $9,526,000 after buying an additional 924 shares during the last quarter. Signaturefd LLC increased its holdings in CDW by 11.6% in the third quarter. Signaturefd LLC now owns 2,616 shares of the information technology services provider’s stock valued at $528,000 after buying an additional 271 shares during the last quarter. EverSource Wealth Advisors LLC increased its holdings in CDW by 14.6% in the third quarter. EverSource Wealth Advisors LLC now owns 1,090 shares of the information technology services provider’s stock valued at $220,000 after buying an additional 139 shares during the last quarter. Finally, Jackson Creek Investment Advisors LLC bought a new stake in CDW in the third quarter valued at about $211,000. Institutional investors and hedge funds own 93.15% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on CDW shares. Citigroup lowered their price objective on CDW from $295.00 to $260.00 and set a “buy” rating for the company in a report on Thursday, May 2nd. Barclays lowered their target price on CDW from $261.00 to $232.00 and set an “equal weight” rating for the company in a report on Thursday, May 2nd. Stifel Nicolaus lowered their target price on CDW from $265.00 to $250.00 and set a “buy” rating for the company in a report on Thursday, May 2nd. JPMorgan Chase & Co. lowered their target price on CDW from $280.00 to $265.00 and set an “overweight” rating for the company in a report on Thursday, May 2nd. Finally, Evercore ISI upped their target price on CDW from $250.00 to $300.00 and gave the company an “outperform” rating in a report on Friday, March 22nd. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $247.50.

CDW Stock Performance

Shares of NASDAQ CDW opened at $231.57 on Friday. The company has a current ratio of 1.26, a quick ratio of 1.13 and a debt-to-equity ratio of 2.35. The stock has a 50 day simple moving average of $239.52 and a 200-day simple moving average of $231.41. The company has a market cap of $31.12 billion, a PE ratio of 28.91, a P/E/G ratio of 3.48 and a beta of 1.09. CDW Co. has a 12-month low of $167.57 and a 12-month high of $263.37.

CDW (NASDAQ:CDW) last issued its quarterly earnings data on Wednesday, May 1st. The information technology services provider reported $1.89 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.04 by ($0.15). The business had revenue of $4.87 billion for the quarter, compared to analyst estimates of $4.94 billion. CDW had a return on equity of 67.56% and a net margin of 5.16%. On average, equities research analysts forecast that CDW Co. will post 9.67 EPS for the current year.

CDW Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 11th. Shareholders of record on Friday, May 24th will be given a $0.62 dividend. The ex-dividend date of this dividend is Thursday, May 23rd. This represents a $2.48 dividend on an annualized basis and a yield of 1.07%. CDW’s dividend payout ratio (DPR) is 30.96%.

CDW announced that its board has authorized a share repurchase program on Wednesday, February 7th that permits the company to repurchase $750.00 million in shares. This repurchase authorization permits the information technology services provider to purchase up to 2.4% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board of directors believes its stock is undervalued.

About CDW

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.