Toroso Investments LLC increased its position in CDW Co. (NASDAQ:CDW – Get Rating) by 8.8% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,381 shares of the information technology services provider’s stock after acquiring an additional 516 shares during the period. Toroso Investments LLC’s holdings in CDW were worth $996,000 at the end of the most recent reporting period.
A number of other large investors have also modified their holdings of the company. Vanguard Group Inc. grew its position in CDW by 0.8% in the 3rd quarter. Vanguard Group Inc. now owns 16,072,467 shares of the information technology services provider’s stock worth $2,508,590,000 after purchasing an additional 120,738 shares during the last quarter. State Street Corp raised its stake in CDW by 0.5% during the 3rd quarter. State Street Corp now owns 5,128,543 shares of the information technology services provider’s stock valued at $800,463,000 after acquiring an additional 26,442 shares in the last quarter. FMR LLC boosted its position in CDW by 89.8% during the 2nd quarter. FMR LLC now owns 4,868,526 shares of the information technology services provider’s stock worth $767,086,000 after acquiring an additional 2,303,669 shares during the period. Fiduciary Management Inc. WI grew its stake in shares of CDW by 12.7% in the third quarter. Fiduciary Management Inc. WI now owns 1,675,953 shares of the information technology services provider’s stock worth $261,583,000 after purchasing an additional 188,689 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in shares of CDW by 5.5% during the second quarter. JPMorgan Chase & Co. now owns 1,427,776 shares of the information technology services provider’s stock valued at $224,962,000 after purchasing an additional 75,043 shares during the period. Institutional investors and hedge funds own 92.78% of the company’s stock.
CDW Stock Performance
Shares of NASDAQ CDW opened at $188.05 on Friday. The stock’s fifty day simple moving average is $199.07 and its 200 day simple moving average is $182.86. The stock has a market capitalization of $25.50 billion, a price-to-earnings ratio of 23.13, a PEG ratio of 1.46 and a beta of 1.13. The company has a quick ratio of 1.17, a current ratio of 1.33 and a debt-to-equity ratio of 3.66. CDW Co. has a 52-week low of $147.91 and a 52-week high of $215.00.
CDW announced that its Board of Directors has approved a share buyback program on Wednesday, February 8th that allows the company to buyback $750.00 million in shares. This buyback authorization allows the information technology services provider to purchase up to 2.8% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s management believes its stock is undervalued.
CDW Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, March 10th. Investors of record on Friday, February 24th were given a $0.59 dividend. The ex-dividend date was Thursday, February 23rd. This represents a $2.36 annualized dividend and a dividend yield of 1.25%. CDW’s dividend payout ratio (DPR) is presently 29.03%.
Insider Buying and Selling
In other news, Director Donna F. Zarcone sold 4,703 shares of the stock in a transaction on Thursday, February 9th. The stock was sold at an average price of $203.23, for a total value of $955,790.69. Following the completion of the sale, the director now owns 18,058 shares in the company, valued at $3,669,927.34. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.67% of the company’s stock.
Analyst Ratings Changes
A number of equities analysts recently issued reports on CDW shares. JPMorgan Chase & Co. increased their target price on shares of CDW from $215.00 to $225.00 and gave the company an “overweight” rating in a research report on Tuesday, December 20th. Citigroup raised their price objective on shares of CDW from $210.00 to $230.00 and gave the company a “buy” rating in a research note on Thursday, February 9th. Raymond James upped their target price on CDW from $200.00 to $220.00 and gave the stock an “outperform” rating in a research report on Thursday, February 9th. Credit Suisse Group lifted their price target on CDW from $220.00 to $230.00 and gave the company an “outperform” rating in a research report on Thursday, February 9th. Finally, StockNews.com began coverage on CDW in a report on Thursday. They issued a “hold” rating for the company. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, CDW currently has a consensus rating of “Moderate Buy” and an average target price of $221.86.
CDW Company Profile
CDW Corp. engages in the provision of information technology solutions to small, medium, and large business, government, education, and healthcare customers. It operates through the following segments: Corporate, Small Business, Public, and Other. The Public segment includes government agencies and education and healthcare institutions.
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