Commerce Bank Purchases 333 Shares of CDW Co. (NASDAQ:CDW)

Commerce Bank increased its position in shares of CDW Co. (NASDAQ:CDW) by 0.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 43,898 shares of the information technology services provider’s stock after acquiring an additional 333 shares during the quarter. Commerce Bank’s holdings in CDW were worth $9,979,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the company. Prestige Wealth Management Group LLC boosted its position in shares of CDW by 6.4% during the fourth quarter. Prestige Wealth Management Group LLC now owns 811 shares of the information technology services provider’s stock worth $184,000 after buying an additional 49 shares during the period. Scotia Capital Inc. boosted its position in CDW by 1.5% during the 3rd quarter. Scotia Capital Inc. now owns 3,495 shares of the information technology services provider’s stock worth $705,000 after acquiring an additional 50 shares during the last quarter. Checchi Capital Advisers LLC grew its stake in shares of CDW by 3.4% during the 4th quarter. Checchi Capital Advisers LLC now owns 1,502 shares of the information technology services provider’s stock worth $341,000 after acquiring an additional 50 shares in the last quarter. Diversified Trust Co raised its holdings in shares of CDW by 4.6% in the fourth quarter. Diversified Trust Co now owns 1,157 shares of the information technology services provider’s stock valued at $263,000 after purchasing an additional 51 shares during the last quarter. Finally, Phoenix Holdings Ltd. lifted its position in shares of CDW by 4.3% in the third quarter. Phoenix Holdings Ltd. now owns 1,262 shares of the information technology services provider’s stock worth $257,000 after purchasing an additional 52 shares in the last quarter. Institutional investors own 93.15% of the company’s stock.

Analyst Upgrades and Downgrades

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

CDW Stock Performance

Shares of NASDAQ:CDW traded down $0.51 during trading on Friday, reaching $231.06. 556,703 shares of the stock were exchanged, compared to its average volume of 878,937. CDW Co. has a 12 month low of $167.73 and a 12 month high of $263.37. The stock has a 50-day moving average price of $239.23 and a 200-day moving average price of $231.54. 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 firm has a market cap of $31.05 billion, a PE ratio of 28.85, a PEG ratio of 3.41 and a beta of 1.09.

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

CDW Dividend Announcement

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

CDW declared that its board has approved a share buyback program on Wednesday, February 7th that authorizes the company to buyback $750.00 million in outstanding shares. This buyback authorization authorizes the information technology services provider to reacquire up to 2.4% of its stock through open market purchases. Stock buyback programs are often an indication 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.