NEOS Investment Management LLC Purchases 2,499 Shares of CDW Co. (NASDAQ:CDW)

NEOS Investment Management LLC lifted its position in shares of CDW Co. (NASDAQ:CDW) by 20.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,751 shares of the information technology services provider’s stock after acquiring an additional 2,499 shares during the period. NEOS Investment Management LLC’s holdings in CDW were worth $2,567,000 as of its most recent filing with the Securities & Exchange Commission.

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

CDW Stock Down 1.4 %

CDW stock opened at $161.51 on Friday. The business’s 50-day moving average price is $182.40 and its 200-day moving average price is $191.68. The stock has a market cap of $21.40 billion, a P/E ratio of 20.26, a PEG ratio of 3.21 and a beta of 1.01. CDW Co. has a twelve month low of $160.96 and a twelve month high of $263.37. 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 earnings per share for the quarter, topping 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%. On average, equities research analysts forecast that CDW Co. will post 9.41 EPS for the current year.

CDW announced that its Board of Directors has initiated a stock 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 often a sign that the company’s management believes its shares are undervalued.

CDW Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 11th. Shareholders of record on Tuesday, February 25th were issued 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 yield of 1.55%. CDW’s dividend payout ratio is presently 31.37%.

Analyst Ratings Changes

A number of research firms have recently issued reports on CDW. Barclays raised their price target on CDW from $201.00 to $223.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 6th. Morgan Stanley raised their target price on CDW from $193.00 to $201.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 6th. Finally, UBS Group reduced their price target on shares of CDW from $233.00 to $220.00 and set a “buy” rating for the company in a research report on Tuesday, January 7th. Four analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $235.50.

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.