Headlands Technologies LLC Invests $5.07 Million in CDW Co. (NASDAQ:CDW)

Headlands Technologies LLC purchased a new position in CDW Co. (NASDAQ:CDW) during the 4th quarter, Holdings Channel.com reports. The firm purchased 29,150 shares of the information technology services provider’s stock, valued at approximately $5,073,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Allworth Financial LP increased its holdings in shares of CDW by 39.7% during the fourth quarter. Allworth Financial LP now owns 183 shares of the information technology services provider’s stock valued at $32,000 after acquiring an additional 52 shares in the last quarter. Summit Trail Advisors LLC grew its position in CDW by 1.4% during the 4th quarter. Summit Trail Advisors LLC now owns 4,040 shares of the information technology services provider’s stock valued at $703,000 after purchasing an additional 56 shares during the last quarter. Parkside Financial Bank & Trust increased its stake 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 valued at $36,000 after purchasing an additional 58 shares in the last quarter. Fulcrum Equity Management raised its holdings in CDW by 4.3% in 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 lifted its stake in shares of CDW by 4.5% in the fourth quarter. Jacobi Capital Management LLC now owns 1,428 shares of the information technology services provider’s stock worth $248,000 after buying an additional 61 shares in the last quarter. Institutional investors own 93.15% of the company’s stock.

Analysts Set New Price Targets

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

CDW Stock Performance

Shares of CDW opened at $160.26 on Tuesday. The firm has a market capitalization of $21.23 billion, a P/E ratio of 20.11, a PEG ratio of 3.21 and a beta of 1.01. The company has a debt-to-equity ratio of 2.38, a current ratio of 1.35 and a quick ratio of 1.24. CDW Co. has a one year low of $158.76 and a one year high of $263.37. The business has a fifty day moving average of $181.83 and a 200 day moving average of $190.93.

CDW (NASDAQ:CDW) last released its quarterly earnings results on Wednesday, February 5th. The information technology services provider reported $2.40 earnings per share (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%. As a group, sell-side analysts anticipate that CDW Co. will post 9.41 EPS for the current year.

CDW Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 11th. Stockholders of record on Tuesday, February 25th were paid a dividend of $0.625 per share. This represents a $2.50 annualized dividend and a dividend yield of 1.56%. The ex-dividend date of this dividend was Tuesday, February 25th. CDW’s dividend payout ratio is presently 31.37%.

CDW declared that its Board of Directors has approved 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 repurchase up to 2.7% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s board 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.