Strategic Financial Concepts LLC Takes Position in CDW Co. (NASDAQ:CDW)

Strategic Financial Concepts LLC bought a new position in CDW Co. (NASDAQ:CDW) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 18,100 shares of the information technology services provider’s stock, valued at approximately $3,150,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Canoe Financial LP purchased a new stake in shares of CDW during the 3rd quarter valued at about $37,000. Fortitude Family Office LLC increased its stake in CDW by 350.0% during the third quarter. Fortitude Family Office LLC now owns 171 shares of the information technology services provider’s stock worth $39,000 after acquiring an additional 133 shares during the last quarter. Ashton Thomas Securities LLC purchased a new stake in CDW during the third quarter valued at approximately $43,000. Covestor Ltd lifted its stake in shares of CDW by 80.1% in the 3rd quarter. Covestor Ltd now owns 245 shares of the information technology services provider’s stock valued at $55,000 after purchasing an additional 109 shares during the last quarter. Finally, ORG Wealth Partners LLC purchased a new position in shares of CDW in the 4th quarter worth approximately $69,000. 93.15% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

CDW has been the subject of a number of analyst reports. UBS Group lowered their price target on CDW from $233.00 to $220.00 and set a “buy” rating for the company in a research report on Tuesday, January 7th. JPMorgan Chase & Co. lowered shares of CDW from an “overweight” rating to a “neutral” rating and lowered their target price for the stock from $260.00 to $235.00 in a report on Monday, October 28th. Barclays upped their price target on shares of CDW from $201.00 to $223.00 and gave the company an “equal weight” rating in a report on Thursday. Redburn Atlantic initiated coverage on shares of CDW in a research note on Friday, November 15th. They issued a “buy” rating and a $230.00 price objective for the company. Finally, Morgan Stanley upped their target price on CDW from $193.00 to $201.00 and gave the company an “equal weight” rating in a research note on Thursday. Four analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $242.67.

CDW Stock Performance

Shares of CDW stock opened at $192.02 on Monday. The company has a current ratio of 1.35, a quick ratio of 1.28 and a debt-to-equity ratio of 2.38. The stock’s fifty day moving average price is $183.86 and its 200-day moving average price is $201.96. The firm has a market cap of $25.59 billion, a P/E ratio of 24.09, a P/E/G 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.

CDW (NASDAQ:CDW) last posted its 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 return on equity of 55.42% and a net margin of 5.13%. On average, equities research analysts expect that CDW Co. will post 9.35 earnings per share for the current fiscal year.

CDW Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 11th. Stockholders 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 dividend yield of 1.30%. The ex-dividend date is Tuesday, February 25th. CDW’s dividend payout ratio is currently 31.37%.

CDW announced that its Board of Directors has authorized a stock buyback plan on Wednesday, February 5th that permits the company to repurchase $750.00 million in shares. This repurchase authorization permits the information technology services provider to repurchase up to 2.7% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

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.