PDS Planning Inc Boosts Stock Position in CDW Co. (NASDAQ:CDW)

PDS Planning Inc increased its stake in CDW Co. (NASDAQ:CDW) by 18.9% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,410 shares of the information technology services provider’s stock after purchasing an additional 224 shares during the quarter. PDS Planning Inc’s holdings in CDW were worth $245,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. State Street Corp boosted its holdings in CDW by 1.1% in the 3rd quarter. State Street Corp now owns 5,719,348 shares of the information technology services provider’s stock valued at $1,294,288,000 after purchasing an additional 64,702 shares during the period. Geode Capital Management LLC boosted its stake in CDW by 0.9% during the third quarter. Geode Capital Management LLC now owns 3,481,064 shares of the information technology services provider’s stock valued at $785,635,000 after buying an additional 31,858 shares during the period. Massachusetts Financial Services Co. MA purchased a new position in CDW during the third quarter worth about $416,111,000. Janus Henderson Group PLC increased its stake in CDW by 7,029.1% in the 3rd quarter. Janus Henderson Group PLC now owns 1,466,597 shares of the information technology services provider’s stock worth $331,891,000 after acquiring an additional 1,446,025 shares during the last quarter. Finally, Barclays PLC boosted its position in shares of CDW by 0.3% during the 3rd quarter. Barclays PLC now owns 1,156,789 shares of the information technology services provider’s stock valued at $261,779,000 after acquiring an additional 3,424 shares during the last quarter. 93.15% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

CDW has been the topic of several research analyst reports. UBS Group decreased their price objective on shares of CDW from $233.00 to $220.00 and set a “buy” rating on the stock in a research report on Tuesday, January 7th. Barclays raised their price objective on shares of CDW from $201.00 to $223.00 and gave the company an “equal weight” rating in a research report on Thursday, February 6th. Finally, Morgan Stanley lifted their price objective on shares of CDW from $193.00 to $201.00 and gave the stock an “equal weight” rating in a report on Thursday, February 6th. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $242.67.

CDW Stock Performance

CDW stock opened at $172.84 on Thursday. The firm has a fifty day simple moving average of $185.01 and a two-hundred day simple moving average of $193.96. The company has a quick ratio of 1.24, a current ratio of 1.35 and a debt-to-equity ratio of 2.38. CDW Co. has a twelve month low of $162.84 and a twelve month high of $263.37. The company has a market capitalization of $22.90 billion, a PE ratio of 21.69, a P/E/G ratio of 3.21 and a beta of 1.01.

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

CDW Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 11th. Investors of record on Tuesday, February 25th were paid a $0.625 dividend. This represents a $2.50 annualized dividend and a dividend yield of 1.45%. The ex-dividend date was Tuesday, February 25th. CDW’s payout ratio is 31.37%.

CDW declared that its board has initiated a share repurchase plan on Wednesday, February 5th 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 2.7% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are 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.