Strategic Financial Concepts LLC Makes New Investment in CDW Co. (NASDAQ:CDW)

Strategic Financial Concepts LLC bought a new stake in shares of CDW Co. (NASDAQ:CDW) in the 4th quarter, Holdings Channel.com reports. The institutional investor bought 18,100 shares of the information technology services provider’s stock, valued at approximately $3,150,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Massachusetts Financial Services Co. MA bought a new position in CDW during the 3rd quarter worth $416,111,000. Janus Henderson Group PLC grew its position in shares of CDW by 7,029.1% during the third quarter. Janus Henderson Group PLC now owns 1,466,597 shares of the information technology services provider’s stock worth $331,891,000 after acquiring an additional 1,446,025 shares during the last quarter. Holocene Advisors LP bought a new position in shares of CDW during the third quarter worth about $172,217,000. Assenagon Asset Management S.A. lifted its position in CDW by 7,549.9% in the 4th quarter. Assenagon Asset Management S.A. now owns 256,271 shares of the information technology services provider’s stock valued at $44,601,000 after purchasing an additional 252,921 shares during the last quarter. Finally, Unigestion Holding SA lifted its position in CDW by 917.4% in the 3rd quarter. Unigestion Holding SA now owns 172,469 shares of the information technology services provider’s stock valued at $39,021,000 after purchasing an additional 155,517 shares during the last quarter. 93.15% of the stock is currently owned by institutional investors and hedge funds.

CDW Stock Performance

Shares of CDW stock opened at $189.39 on Monday. The stock has a market cap of $25.24 billion, a PE ratio of 23.76, a price-to-earnings-growth ratio of 5.40 and a beta of 1.01. CDW Co. has a 12 month low of $168.43 and a 12 month high of $263.37. The company has a quick ratio of 1.28, a current ratio of 1.35 and a debt-to-equity ratio of 2.38. The business has a fifty day simple moving average of $184.91 and a 200-day simple moving average of $200.62.

CDW (NASDAQ:CDW) last released its earnings results on Wednesday, February 5th. The information technology services provider reported $2.40 earnings per share 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%. On average, sell-side analysts anticipate that CDW Co. will post 9.35 EPS for the current fiscal year.

CDW declared that its board has authorized a share buyback 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 purchase up to 2.7% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s management believes its stock is undervalued.

CDW Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 11th. Shareholders of record on Tuesday, February 25th will be paid a $0.625 dividend. The ex-dividend date of this dividend is Tuesday, February 25th. This represents a $2.50 annualized dividend and a yield of 1.32%. CDW’s dividend payout ratio is presently 31.37%.

Analyst Ratings Changes

Several equities research analysts have commented on CDW shares. Barclays raised their price target on shares of CDW from $201.00 to $223.00 and gave the company an “equal weight” rating in a research note on Thursday, February 6th. Redburn Atlantic began coverage on CDW in a research note on Friday, November 15th. They set a “buy” rating and a $230.00 target price on the stock. Morgan Stanley increased their price target on CDW from $193.00 to $201.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 6th. JPMorgan Chase & Co. cut shares of CDW from an “overweight” rating to a “neutral” rating and cut their price objective for the company from $260.00 to $235.00 in a research note on Monday, October 28th. Finally, UBS Group decreased their target price 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 five have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $242.67.

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.