Livforsakringsbolaget Skandia Omsesidigt Acquires 352 Shares of CDW Co. (NASDAQ:CDW)

Livforsakringsbolaget Skandia Omsesidigt lifted its holdings in CDW Co. (NASDAQ:CDW) by 117.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 652 shares of the information technology services provider’s stock after purchasing an additional 352 shares during the quarter. Livforsakringsbolaget Skandia Omsesidigt’s holdings in CDW were worth $148,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in CDW. OFI Invest Asset Management bought a new stake in shares of CDW in the third quarter worth $25,000. VisionPoint Advisory Group LLC bought a new stake in CDW during the third quarter worth $28,000. TFC Financial Management Inc. raised its position in CDW by 61.1% during the third quarter. TFC Financial Management Inc. now owns 145 shares of the information technology services provider’s stock worth $29,000 after acquiring an additional 55 shares in the last quarter. Altshuler Shaham Ltd bought a new stake in CDW during the fourth quarter worth $33,000. Finally, Orion Capital Management LLC bought a new stake in CDW during the third quarter worth $35,000. Institutional investors own 93.15% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on CDW. Barclays upped their price target on shares of CDW from $219.00 to $261.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 8th. JPMorgan Chase & Co. upped their price target on shares of CDW from $267.00 to $280.00 and gave the stock an “overweight” rating in a research report on Thursday, April 11th. Evercore ISI increased their price objective on shares of CDW from $250.00 to $300.00 and gave the company an “outperform” rating in a research report on Friday, March 22nd. Finally, Citigroup increased their price objective on shares of CDW from $255.00 to $295.00 and gave the company a “buy” rating in a research report on Thursday, April 4th. Four analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $238.90.

CDW Trading Down 0.5 %

Shares of CDW stock opened at $235.70 on Friday. The company has a market capitalization of $31.67 billion, a price-to-earnings ratio of 29.10, a PEG ratio of 2.68 and a beta of 1.09. The company has a quick ratio of 1.11, a current ratio of 1.23 and a debt-to-equity ratio of 2.46. CDW Co. has a 12-month low of $160.66 and a 12-month high of $263.37. The firm’s 50-day moving average price is $247.41 and its two-hundred day moving average price is $227.05.

CDW (NASDAQ:CDW) last announced its quarterly earnings data on Wednesday, February 7th. The information technology services provider reported $2.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 5.17% and a return on equity of 73.93%. The business’s revenue for the quarter was down 7.7% on a year-over-year basis. During the same period in the prior year, the company posted $2.40 earnings per share. On average, analysts forecast that CDW Co. will post 9.89 earnings per share for the current fiscal year.

CDW Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 12th. Shareholders of record on Monday, February 26th were paid a dividend of $0.62 per share. The ex-dividend date of this dividend was Friday, February 23rd. This represents a $2.48 dividend on an annualized basis and a yield of 1.05%. CDW’s payout ratio is 30.62%.

CDW declared that its board has approved a share repurchase program on Wednesday, February 7th that authorizes the company to repurchase $750.00 million in shares. This repurchase authorization authorizes the information technology services provider to reacquire up to 2.4% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s management believes its shares are 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.