Edgestream Partners L.P. Increases Holdings in CDW Co. (NASDAQ:CDW)

Edgestream Partners L.P. increased its stake in shares of CDW Co. (NASDAQ:CDW) by 43.7% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 27,099 shares of the information technology services provider’s stock after buying an additional 8,238 shares during the quarter. Edgestream Partners L.P.’s holdings in CDW were worth $4,716,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. E Fund Management Co. Ltd. increased its stake in CDW by 32.4% during the fourth quarter. E Fund Management Co. Ltd. now owns 4,267 shares of the information technology services provider’s stock worth $743,000 after acquiring an additional 1,043 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in CDW during the fourth quarter worth $27,243,000. Arizona State Retirement System increased its stake in CDW by 0.7% during the fourth quarter. Arizona State Retirement System now owns 38,784 shares of the information technology services provider’s stock worth $6,750,000 after acquiring an additional 279 shares during the last quarter. Aigen Investment Management LP increased its stake in CDW by 714.2% during the fourth quarter. Aigen Investment Management LP now owns 28,895 shares of the information technology services provider’s stock worth $5,029,000 after acquiring an additional 25,346 shares during the last quarter. Finally, Proficio Capital Partners LLC increased its stake in CDW by 5.5% during the fourth quarter. Proficio Capital Partners LLC now owns 3,948 shares of the information technology services provider’s stock worth $687,000 after acquiring an additional 205 shares during the last quarter. Hedge funds and other institutional investors own 93.15% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on CDW shares. Barclays raised their target price on CDW from $201.00 to $223.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 6th. UBS Group dropped their price objective on CDW from $233.00 to $220.00 and set a “buy” rating for the company in a research note on Tuesday, January 7th. Morgan Stanley lifted their price objective on CDW from $193.00 to $201.00 and gave the company an “equal weight” rating in a research note on Thursday, February 6th. Finally, Redburn Atlantic began coverage on CDW in a research note on Friday, November 15th. They issued a “buy” rating and a $230.00 price objective for the company. Four analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, CDW presently has a consensus rating of “Moderate Buy” and an average target price of $242.67.

CDW Trading Up 0.7 %

CDW opened at $168.37 on Friday. CDW Co. has a 12 month low of $164.98 and a 12 month high of $263.37. The stock has a market capitalization of $22.31 billion, a price-to-earnings ratio of 21.13, a PEG ratio of 3.21 and a beta of 1.01. The company has a debt-to-equity ratio of 2.38, a current ratio of 1.35 and a quick ratio of 1.24. The business has a fifty day moving average price of $186.37 and a 200 day moving average price of $197.71.

CDW (NASDAQ:CDW) last released its earnings results on Wednesday, February 5th. The information technology services provider reported $2.40 EPS for the quarter, topping the consensus estimate of $2.33 by $0.07. CDW had a return on equity of 55.42% and a net margin of 5.13%. Sell-side analysts expect that CDW Co. will post 9.41 earnings per share for the current fiscal year.

CDW Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 11th. Shareholders of record on Tuesday, February 25th will be issued a dividend of $0.625 per share. This represents a $2.50 dividend on an annualized basis and a yield of 1.48%. The ex-dividend date of this dividend is Tuesday, February 25th. CDW’s dividend payout ratio (DPR) is 31.37%.

CDW announced that its Board of Directors has initiated a share buyback program on Wednesday, February 5th that allows the company to buyback $750.00 million in shares. This buyback authorization allows the information technology services provider to purchase up to 2.7% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

CDW Company 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.