CDW Co. (NASDAQ:CDW) Shares Bought by Modern Wealth Management LLC

Modern Wealth Management LLC grew its position in CDW Co. (NASDAQ:CDW) by 11.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 11,560 shares of the information technology services provider’s stock after acquiring an additional 1,197 shares during the quarter. Modern Wealth Management LLC’s holdings in CDW were worth $2,215,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. Allworth Financial LP boosted 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 worth $32,000 after purchasing an additional 52 shares during the period. Summit Trail Advisors LLC raised its holdings in shares of CDW by 1.4% in the fourth quarter. Summit Trail Advisors LLC now owns 4,040 shares of the information technology services provider’s stock valued at $703,000 after buying an additional 56 shares during the last quarter. Parkside Financial Bank & Trust boosted its stake in shares of 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 buying an additional 58 shares during the period. Fulcrum Equity Management grew its holdings in shares of CDW by 4.3% during the third quarter. Fulcrum Equity Management now owns 1,442 shares of the information technology services provider’s stock worth $326,000 after buying an additional 60 shares during the last quarter. Finally, Jacobi Capital Management LLC increased its position in CDW by 4.5% in the 4th quarter. Jacobi Capital Management LLC now owns 1,428 shares of the information technology services provider’s stock valued at $248,000 after acquiring an additional 61 shares during the period. 93.15% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

CDW Stock Performance

NASDAQ:CDW opened at $168.52 on Wednesday. The firm’s fifty day simple moving average is $183.82 and its 200-day simple moving average is $192.42. The company has a quick ratio of 1.24, a current ratio of 1.35 and a debt-to-equity ratio of 2.38. The stock has a market cap of $22.33 billion, a PE ratio of 21.14, a price-to-earnings-growth ratio of 3.21 and a beta of 1.01. CDW Co. has a fifty-two week low of $162.84 and a fifty-two 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 net margin of 5.13% and a return on equity of 55.42%. Analysts expect that CDW Co. will post 9.41 earnings per share for the current fiscal year.

CDW Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 11th. Investors 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 annualized dividend and a yield of 1.48%. CDW’s dividend payout ratio is presently 31.37%.

CDW declared that its Board of Directors has authorized a share repurchase 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 reacquire up to 2.7% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its stock is 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.