CDW Co. (NASDAQ:CDW) Shares Bought by Smartleaf Asset Management LLC

Smartleaf Asset Management LLC grew its position in shares of CDW Co. (NASDAQ:CDW) by 19.8% in the 4th quarter, HoldingsChannel.com reports. The fund owned 779 shares of the information technology services provider’s stock after acquiring an additional 129 shares during the period. Smartleaf Asset Management LLC’s holdings in CDW were worth $135,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Allworth Financial LP increased 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 acquiring an additional 52 shares during the last quarter. Ashton Thomas Securities LLC acquired a new stake in CDW during the third quarter worth about $43,000. Parkside Financial Bank & Trust increased its stake 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 worth $36,000 after acquiring an additional 58 shares during the last quarter. Covestor Ltd increased its stake in CDW by 80.1% during the third 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 last quarter. Finally, Canoe Financial LP increased its stake in CDW by 68.3% during the fourth quarter. Canoe Financial LP now owns 276 shares of the information technology services provider’s stock worth $48,000 after acquiring an additional 112 shares during the last quarter. 93.15% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have commented on CDW. Redburn Atlantic began coverage on CDW in a research note on Friday, November 15th. They set a “buy” rating and a $230.00 price target for the company. UBS Group decreased their target price on CDW from $233.00 to $220.00 and set a “buy” rating for the company in a research report on Tuesday, January 7th. Barclays upped their target price on CDW from $201.00 to $223.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 6th. Finally, Morgan Stanley upped 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. Four research 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.com, CDW presently has a consensus rating of “Moderate Buy” and a consensus price target of $242.67.

CDW Trading Up 0.7 %

Shares of CDW opened at $168.37 on Friday. The company has a market capitalization of $22.31 billion, a P/E ratio of 21.13, a P/E/G ratio of 3.21 and a beta of 1.01. CDW Co. has a one year low of $164.98 and a one year high of $263.37. The company has a debt-to-equity ratio of 2.38, a quick ratio of 1.24 and a current ratio of 1.35. The stock has a 50-day moving average price of $186.37 and a 200 day moving average price of $197.71.

CDW (NASDAQ:CDW) last issued its quarterly earnings results on Wednesday, February 5th. The information technology services provider reported $2.40 EPS for the quarter, beating 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%. Sell-side analysts forecast that CDW Co. will post 9.41 EPS for the current fiscal year.

CDW Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 11th. Investors of record on Tuesday, February 25th will be issued a $0.625 dividend. This represents a $2.50 dividend on an annualized basis and a yield of 1.48%. The ex-dividend date of this dividend is Tuesday, February 25th. CDW’s dividend payout ratio is currently 31.37%.

CDW declared that its Board of Directors has approved a share repurchase plan on Wednesday, February 5th that allows the company to repurchase $750.00 million in shares. This repurchase authorization allows the information technology services provider to reacquire up to 2.7% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board believes its stock is undervalued.

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.