Parkside Financial Bank & Trust Grows Holdings in CDW Co. (NASDAQ:CDW)

Parkside Financial Bank & Trust lifted its stake in CDW Co. (NASDAQ:CDW) by 38.9% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 207 shares of the information technology services provider’s stock after acquiring an additional 58 shares during the quarter. Parkside Financial Bank & Trust’s holdings in CDW were worth $36,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the stock. Wealth Enhancement Advisory Services LLC grew its position in CDW by 7.3% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 6,667 shares of the information technology services provider’s stock valued at $1,509,000 after acquiring an additional 451 shares in the last quarter. Van ECK Associates Corp boosted its stake in shares of CDW by 11.0% in the third quarter. Van ECK Associates Corp now owns 24,619 shares of the information technology services provider’s stock valued at $5,358,000 after purchasing an additional 2,441 shares during the period. Intact Investment Management Inc. acquired a new position in shares of CDW in the third quarter valued at approximately $543,000. National Pension Service increased its stake in CDW by 0.9% during the 3rd quarter. National Pension Service now owns 207,541 shares of the information technology services provider’s stock worth $46,967,000 after buying an additional 1,796 shares during the period. Finally, PDS Planning Inc lifted its holdings in CDW by 4.3% during the 3rd quarter. PDS Planning Inc now owns 1,186 shares of the information technology services provider’s stock worth $268,000 after buying an additional 49 shares in the last quarter. Hedge funds and other institutional investors own 93.15% of the company’s stock.

CDW Trading Down 3.2 %

NASDAQ CDW opened at $172.50 on Tuesday. CDW Co. has a one year low of $168.43 and a one year high of $263.37. The firm has a market cap of $22.85 billion, a PE ratio of 21.64, a P/E/G ratio of 3.21 and a beta of 1.01. The firm’s fifty day moving average is $186.80 and its two-hundred day moving average is $198.81. The company has a debt-to-equity ratio of 2.38, a quick ratio of 1.24 and a current ratio of 1.35.

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

CDW announced that its board has approved a stock buyback program on Wednesday, February 5th that permits the company to repurchase $750.00 million in 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 programs are often a sign that the company’s board believes its shares are undervalued.

CDW Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 11th. Investors of record on Tuesday, February 25th will be given a $0.625 dividend. The ex-dividend date is Tuesday, February 25th. This represents a $2.50 dividend on an annualized basis and a yield of 1.45%. CDW’s dividend payout ratio (DPR) is 31.37%.

Wall Street Analysts Forecast Growth

CDW has been the subject of several research reports. Morgan Stanley boosted their price target on shares of CDW from $193.00 to $201.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 6th. UBS Group cut their price target on CDW from $233.00 to $220.00 and set a “buy” rating on the stock in a report on Tuesday, January 7th. Redburn Atlantic started coverage on shares of CDW in a report on Friday, November 15th. They set a “buy” rating and a $230.00 price target for the company. Finally, 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 report on Thursday, February 6th. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average 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.