Procyon Advisors LLC Buys 69 Shares of CDW Co. (NASDAQ:CDW)

Procyon Advisors LLC raised its stake in CDW Co. (NASDAQ:CDWFree Report) by 3.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,402 shares of the information technology services provider’s stock after purchasing an additional 69 shares during the quarter. Procyon Advisors LLC’s holdings in CDW were worth $546,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Scotia Capital Inc. boosted its stake in shares of CDW by 1.5% during the 3rd quarter. Scotia Capital Inc. now owns 3,495 shares of the information technology services provider’s stock worth $705,000 after acquiring an additional 50 shares during the period. Diversified Trust Co boosted its stake in shares of CDW by 4.6% during the 4th quarter. Diversified Trust Co now owns 1,157 shares of the information technology services provider’s stock worth $263,000 after acquiring an additional 51 shares during the period. Phoenix Holdings Ltd. boosted its stake in shares of CDW by 4.3% during the 3rd quarter. Phoenix Holdings Ltd. now owns 1,262 shares of the information technology services provider’s stock worth $257,000 after acquiring an additional 52 shares during the period. Ballentine Partners LLC boosted its stake in shares of CDW by 1.1% during the 3rd quarter. Ballentine Partners LLC now owns 4,911 shares of the information technology services provider’s stock worth $991,000 after acquiring an additional 54 shares during the period. Finally, TFC Financial Management Inc. boosted its stake in shares of CDW by 61.1% during the 3rd quarter. TFC Financial Management Inc. now owns 145 shares of the information technology services provider’s stock worth $29,000 after acquiring an additional 55 shares during the period. 93.15% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages have recently commented on CDW. Evercore ISI lifted their target price on CDW from $250.00 to $300.00 and gave the stock an “outperform” rating in a research note on Friday, March 22nd. Morgan Stanley cut CDW from an “overweight” rating to an “equal weight” rating and set a $216.00 price target for the company. in a report on Tuesday, December 12th. JPMorgan Chase & Co. lifted their price target on CDW from $253.00 to $267.00 and gave the stock an “overweight” rating in a report on Thursday, February 8th. Finally, Barclays lifted their price target on CDW from $219.00 to $261.00 and gave the stock an “equal weight” rating in a report on Thursday, February 8th. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, CDW has an average rating of “Moderate Buy” and a consensus target price of $228.60.

Check Out Our Latest Research Report on CDW

CDW Price Performance

Shares of NASDAQ CDW opened at $255.78 on Friday. The stock has a market capitalization of $34.33 billion, a PE ratio of 31.58, a P/E/G ratio of 2.88 and a beta of 1.09. The company has a debt-to-equity ratio of 2.46, a current ratio of 1.23 and a quick ratio of 1.11. The business has a fifty day moving average price of $242.01 and a two-hundred day moving average price of $222.65. CDW Co. has a fifty-two week low of $160.66 and a fifty-two week high of $259.38.

CDW (NASDAQ:CDWGet Free Report) last issued its quarterly earnings results on Wednesday, February 7th. The information technology services provider reported $2.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.56 by $0.01. CDW had a return on equity of 73.93% and a net margin of 5.17%. The company had revenue of $5.02 billion for the quarter, compared to analyst estimates of $5.32 billion. During the same quarter last year, the company posted $2.40 EPS. The company’s revenue for the quarter was down 7.7% compared to the same quarter last year. As a group, equities analysts predict that CDW Co. will post 9.88 earnings per share for the current fiscal year.

CDW Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 12th. Stockholders of record on Monday, February 26th were paid a $0.62 dividend. The ex-dividend date of this dividend was Friday, February 23rd. This represents a $2.48 annualized dividend and a dividend yield of 0.97%. CDW’s payout ratio is 30.62%.

CDW announced that its Board of Directors has authorized a share repurchase program on Wednesday, February 7th that permits the company to buyback $750.00 million in outstanding shares. This buyback authorization permits the information technology services provider to reacquire up to 2.4% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s leadership believes its stock is undervalued.

CDW Profile

(Free Report)

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.

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Institutional Ownership by Quarter for CDW (NASDAQ:CDW)

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