Vanguard Group Inc. Buys 99,947 Shares of CDW Co. (NASDAQ:CDW)

Vanguard Group Inc. lifted its stake in CDW Co. (NASDAQ:CDW) by 0.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 16,673,784 shares of the information technology services provider’s stock after acquiring an additional 99,947 shares during the quarter. Vanguard Group Inc. owned 0.13% of CDW worth $2,901,905,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the stock. Allworth Financial LP grew its position in CDW by 39.7% in the 4th quarter. Allworth Financial LP now owns 183 shares of the information technology services provider’s stock worth $32,000 after purchasing an additional 52 shares during the period. Summit Trail Advisors LLC grew its holdings in shares of CDW by 1.4% in the fourth quarter. Summit Trail Advisors LLC now owns 4,040 shares of the information technology services provider’s stock worth $703,000 after acquiring an additional 56 shares during the period. Parkside Financial Bank & Trust increased its position in CDW by 38.9% during the fourth 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. Fulcrum Equity Management lifted its holdings in CDW by 4.3% in the third quarter. Fulcrum Equity Management now owns 1,442 shares of the information technology services provider’s stock valued at $326,000 after acquiring an additional 60 shares during the period. Finally, Jacobi Capital Management LLC boosted its position in CDW by 4.5% in the fourth quarter. Jacobi Capital Management LLC now owns 1,428 shares of the information technology services provider’s stock worth $248,000 after purchasing an additional 61 shares during the last quarter. 93.15% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CDW has been the topic of several recent research reports. Barclays increased their price objective on shares of CDW from $201.00 to $223.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 6th. 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 note on Tuesday, January 7th. Finally, Morgan Stanley raised their target price on CDW from $193.00 to $201.00 and gave the stock an “equal weight” rating in a report on Thursday, February 6th. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, CDW currently has an average rating of “Moderate Buy” and an average target price of $235.50.

CDW Price Performance

NASDAQ:CDW opened at $168.52 on Wednesday. The business’s 50-day simple moving average is $183.82 and its two-hundred day simple moving average is $192.42. CDW Co. has a 52 week low of $162.84 and a 52 week high of $263.37. The stock has a market cap of $22.33 billion, a PE ratio of 21.14, a P/E/G ratio of 3.21 and a beta of 1.01. The company has a quick ratio of 1.24, a current ratio of 1.35 and a debt-to-equity ratio of 2.38.

CDW (NASDAQ:CDW) last posted its quarterly earnings results on Wednesday, February 5th. The information technology services provider reported $2.40 EPS for the quarter, topping analysts’ consensus estimates of $2.33 by $0.07. CDW had a return on equity of 55.42% and a net margin of 5.13%. As a group, analysts forecast that CDW Co. will post 9.41 EPS for the current fiscal year.

CDW announced that its Board of Directors has approved a stock repurchase program on Wednesday, February 5th that authorizes the company to repurchase $750.00 million in outstanding shares. This repurchase authorization authorizes the information technology services provider to reacquire up to 2.7% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s leadership believes its shares are undervalued.

CDW Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 11th. Investors of record on Tuesday, February 25th were given a dividend of $0.625 per share. The ex-dividend date was Tuesday, February 25th. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.48%. CDW’s dividend payout ratio is 31.37%.

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.