Arcadia Investment Management Corp MI Invests $174,000 in CDW Co. (NASDAQ:CDW)

Arcadia Investment Management Corp MI purchased a new position in CDW Co. (NASDAQ:CDW) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 1,000 shares of the information technology services provider’s stock, valued at approximately $174,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Jacobson & Schmitt Advisors LLC lifted its position in shares of CDW by 2.8% in the 4th quarter. Jacobson & Schmitt Advisors LLC now owns 69,432 shares of the information technology services provider’s stock worth $12,084,000 after purchasing an additional 1,861 shares during the period. Global Retirement Partners LLC lifted its position in shares of CDW by 16.4% in the 4th quarter. Global Retirement Partners LLC now owns 531 shares of the information technology services provider’s stock worth $92,000 after purchasing an additional 75 shares during the period. Venturi Wealth Management LLC lifted its position in shares of CDW by 9.0% in the 4th quarter. Venturi Wealth Management LLC now owns 7,838 shares of the information technology services provider’s stock worth $1,364,000 after purchasing an additional 649 shares during the period. Citizens & Northern Corp lifted its position in shares of CDW by 2.9% in the 4th quarter. Citizens & Northern Corp now owns 6,580 shares of the information technology services provider’s stock worth $1,145,000 after purchasing an additional 187 shares during the period. Finally, CIBC Asset Management Inc lifted its position in shares of CDW by 2.9% in the 4th quarter. CIBC Asset Management Inc now owns 42,896 shares of the information technology services provider’s stock worth $7,466,000 after purchasing an additional 1,222 shares during the period. Institutional investors and hedge funds own 93.15% of the company’s stock.

CDW Stock Performance

CDW opened at $192.80 on Friday. The company has a current ratio of 1.35, a quick ratio of 1.24 and a debt-to-equity ratio of 2.38. The company’s fifty day moving average price is $185.94 and its two-hundred day moving average price is $200.23. CDW Co. has a 1-year low of $168.43 and a 1-year high of $263.37. The company has a market cap of $25.69 billion, a price-to-earnings ratio of 24.19, a PEG ratio of 3.21 and a beta of 1.01.

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

CDW declared that its board has authorized a stock buyback program on Wednesday, February 5th that allows the company to buyback $750.00 million in outstanding shares. This buyback authorization allows the information technology services provider to reacquire up to 2.7% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its stock is undervalued.

CDW Dividend Announcement

The firm also recently disclosed 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. The ex-dividend date is Tuesday, February 25th. This represents a $2.50 annualized dividend and a yield of 1.30%. CDW’s payout ratio is 31.37%.

Analyst Upgrades and Downgrades

CDW has been the topic of a number of recent analyst reports. UBS Group dropped their price target 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. Redburn Atlantic started coverage on shares of CDW in a research report on Friday, November 15th. They set a “buy” rating and a $230.00 target price on the stock. Morgan Stanley boosted their target price on shares of CDW from $193.00 to $201.00 and gave the company an “equal weight” rating in a research report on Thursday, February 6th. JPMorgan Chase & Co. downgraded shares of CDW from an “overweight” rating to a “neutral” rating and dropped their target price for the company from $260.00 to $235.00 in a research report on Monday, October 28th. Finally, Barclays boosted their target price 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. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $242.67.

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.