Delta Investment Management LLC Has $795,000 Holdings in CDW Co. (NASDAQ:CDW)

Delta Investment Management LLC lifted its position in CDW Co. (NASDAQ:CDW) by 50.0% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 3,495 shares of the information technology services provider’s stock after acquiring an additional 1,165 shares during the quarter. Delta Investment Management LLC’s holdings in CDW were worth $795,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CDW. Scotia Capital Inc. boosted its holdings in shares of CDW by 1.5% during the third quarter. Scotia Capital Inc. now owns 3,495 shares of the information technology services provider’s stock worth $705,000 after purchasing an additional 50 shares during the period. Diversified Trust Co lifted its position in CDW by 4.6% in the 4th quarter. Diversified Trust Co now owns 1,157 shares of the information technology services provider’s stock worth $263,000 after buying an additional 51 shares in the last quarter. Phoenix Holdings Ltd. boosted its stake in shares of CDW by 4.3% during the 3rd quarter. Phoenix Holdings Ltd. now owns 1,262 shares of the information technology services provider’s stock valued at $257,000 after buying an additional 52 shares during the period. Fidelis Capital Partners LLC increased its stake in shares of CDW by 4.5% in the fourth quarter. Fidelis Capital Partners LLC now owns 1,229 shares of the information technology services provider’s stock worth $279,000 after acquiring an additional 53 shares during the last quarter. Finally, Ballentine Partners LLC raised its holdings in shares of CDW by 1.1% during the third quarter. Ballentine Partners LLC now owns 4,911 shares of the information technology services provider’s stock worth $991,000 after acquiring an additional 54 shares in the last quarter. Institutional investors and hedge funds own 93.15% of the company’s stock.

CDW Price Performance

NASDAQ CDW opened at $242.26 on Friday. The company has a market cap of $32.55 billion, a P/E ratio of 29.91, a P/E/G ratio of 2.74 and a beta of 1.09. CDW Co. has a 1 year low of $162.59 and a 1 year high of $263.37. The company has a current ratio of 1.23, a quick ratio of 1.11 and a debt-to-equity ratio of 2.46. The company has a fifty day simple moving average of $247.25 and a 200 day simple moving average of $228.55.

CDW (NASDAQ:CDW) last released its quarterly earnings results on Wednesday, February 7th. The information technology services provider reported $2.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.56 by $0.01. CDW had a net margin of 5.17% and a return on equity of 73.93%. The company had revenue of $5.02 billion during the quarter, compared to analysts’ expectations of $5.32 billion. During the same period in the prior year, the company earned $2.40 earnings per share. The business’s quarterly revenue was down 7.7% compared to the same quarter last year. On average, sell-side analysts predict that CDW Co. will post 9.89 EPS for the current year.

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

CDW Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 12th. Stockholders of record on Monday, February 26th were given a $0.62 dividend. The ex-dividend date of this dividend was Friday, February 23rd. This represents a $2.48 annualized dividend and a dividend yield of 1.02%. CDW’s dividend payout ratio is 30.62%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on CDW. Citigroup boosted their target price on CDW from $255.00 to $295.00 and gave the company a “buy” rating in a research note on Thursday, April 4th. Barclays increased their price objective on CDW from $219.00 to $261.00 and gave the stock an “equal weight” rating in a report on Thursday, February 8th. JPMorgan Chase & Co. lifted their target price on shares of CDW from $267.00 to $280.00 and gave the company an “overweight” rating in a research note on Thursday, April 11th. Finally, Evercore ISI increased their price target on shares of CDW from $250.00 to $300.00 and gave the stock an “outperform” rating in a research note on Friday, March 22nd. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, CDW presently has a consensus rating of “Moderate Buy” and a consensus target price of $242.67.

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.