SRS Capital Advisors Inc. Increases Stake in CDW Co. (NASDAQ:CDW)

SRS Capital Advisors Inc. boosted its stake in CDW Co. (NASDAQ:CDW) by 276.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 831 shares of the information technology services provider’s stock after purchasing an additional 610 shares during the quarter. SRS Capital Advisors Inc.’s holdings in CDW were worth $145,000 as of its most recent filing with the SEC.

Other institutional investors also recently made changes to their positions in the company. Allworth Financial LP grew its stake in CDW by 39.7% during the fourth quarter. Allworth Financial LP now owns 183 shares of the information technology services provider’s stock worth $32,000 after buying an additional 52 shares during the period. Ashton Thomas Securities LLC purchased a new stake in shares of CDW during the 3rd quarter valued at about $43,000. Parkside Financial Bank & Trust lifted its position in CDW by 38.9% during the 4th quarter. Parkside Financial Bank & Trust now owns 207 shares of the information technology services provider’s stock worth $36,000 after acquiring an additional 58 shares in the last quarter. Covestor Ltd boosted its holdings in CDW by 80.1% in the 3rd quarter. Covestor Ltd now owns 245 shares of the information technology services provider’s stock worth $55,000 after acquiring an additional 109 shares during the period. Finally, Canoe Financial LP boosted its stake in shares of CDW by 68.3% in the fourth quarter. Canoe Financial LP now owns 276 shares of the information technology services provider’s stock valued at $48,000 after purchasing an additional 112 shares during the period. 93.15% of the stock is owned by hedge funds and other institutional investors.

CDW Stock Up 0.7 %

NASDAQ:CDW opened at $172.59 on Thursday. The company has a current ratio of 1.35, a quick ratio of 1.24 and a debt-to-equity ratio of 2.38. The stock has a 50 day moving average of $186.64 and a 200-day moving average of $198.10. The firm has a market capitalization of $22.87 billion, a PE ratio of 21.65, a price-to-earnings-growth ratio of 3.21 and a beta of 1.01. CDW Co. has a 52 week low of $168.43 and a 52 week high of $263.37.

CDW (NASDAQ:CDW) last issued its earnings results on Wednesday, February 5th. The information technology services provider reported $2.40 earnings per share for the quarter, topping 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 predict that CDW Co. will post 9.41 EPS for the current year.

CDW declared that its Board of Directors 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 purchase up to 2.7% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its shares are undervalued.

CDW Announces Dividend

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

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on CDW shares. Redburn Atlantic initiated coverage on CDW in a research note on Friday, November 15th. They set a “buy” rating and a $230.00 target price for the company. Barclays increased their target price on CDW from $201.00 to $223.00 and gave the company an “equal weight” rating in a research note on Thursday, February 6th. Morgan Stanley upped their price target on shares of CDW from $193.00 to $201.00 and gave the company an “equal weight” rating in a 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 on the stock in a research report on Tuesday, January 7th. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, CDW presently has a consensus rating of “Moderate Buy” and a consensus price target of $242.67.

About CDW

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.