45,600 Shares in CDW Co. (NASDAQ:CDW) Purchased by KLP Kapitalforvaltning AS

KLP Kapitalforvaltning AS bought a new stake in shares of CDW Co. (NASDAQ:CDW) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 45,600 shares of the information technology services provider’s stock, valued at approximately $7,936,000.

A number of other large investors also recently added to or reduced their stakes in CDW. Allworth Financial LP raised its position in shares of CDW by 39.7% during the fourth quarter. Allworth Financial LP now owns 183 shares of the information technology services provider’s stock valued at $32,000 after buying an additional 52 shares during the last quarter. OFI Invest Asset Management purchased a new position in CDW during the fourth quarter valued at $32,000. Parkside Financial Bank & Trust increased its holdings in CDW by 38.9% in the 4th quarter. Parkside Financial Bank & Trust now owns 207 shares of the information technology services provider’s stock valued at $36,000 after acquiring an additional 58 shares during the last quarter. Canoe Financial LP lifted its stake in CDW by 68.3% in the 4th quarter. Canoe Financial LP now owns 276 shares of the information technology services provider’s stock worth $48,000 after purchasing an additional 112 shares in the last quarter. Finally, ORG Wealth Partners LLC bought a new position in shares of CDW during the 4th quarter valued at about $69,000. 93.15% of the stock is owned by hedge funds and other institutional investors.

CDW Stock Performance

NASDAQ CDW opened at $170.31 on Tuesday. The business’s 50 day moving average price is $184.19 and its 200-day moving average price is $192.73. CDW Co. has a fifty-two week low of $162.84 and a fifty-two week high of $263.37. The company has a market cap of $22.56 billion, a P/E ratio of 21.37, a P/E/G ratio of 3.21 and a beta of 1.01. 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 earnings per share for the quarter, beating analysts’ consensus estimates of $2.33 by $0.07. CDW had a net margin of 5.13% and a return on equity of 55.42%. Sell-side analysts predict that CDW Co. will post 9.41 earnings per share for the current year.

CDW declared that its board has approved a share repurchase plan 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 shares through open market purchases. Shares buyback plans are typically an indication that the company’s board believes its stock is undervalued.

CDW Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 11th. Shareholders of record on Tuesday, February 25th were paid a $0.625 dividend. This represents a $2.50 annualized dividend and a yield of 1.47%. The ex-dividend date was Tuesday, February 25th. CDW’s payout ratio is currently 31.37%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on CDW. UBS Group reduced their target price on CDW from $233.00 to $220.00 and set a “buy” rating on the stock in a report on Tuesday, January 7th. Morgan Stanley upped their price objective on CDW from $193.00 to $201.00 and gave the stock an “equal weight” rating in a report on Thursday, February 6th. Finally, Barclays raised their target price 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 four have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $235.50.

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.