Ritholtz Wealth Management Makes New Investment in CDW Co. (NASDAQ:CDW)

Ritholtz Wealth Management bought a new position in CDW Co. (NASDAQ:CDWFree Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 1,031 shares of the information technology services provider’s stock, valued at approximately $234,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Procyon Advisors LLC grew its position in shares of CDW by 3.0% in the fourth quarter. Procyon Advisors LLC now owns 2,402 shares of the information technology services provider’s stock valued at $546,000 after purchasing an additional 69 shares in the last quarter. Fort Washington Investment Advisors Inc. OH grew its holdings in CDW by 2.5% during the 4th quarter. Fort Washington Investment Advisors Inc. OH now owns 7,474 shares of the information technology services provider’s stock valued at $1,699,000 after buying an additional 183 shares in the last quarter. Pacer Advisors Inc. increased its position in shares of CDW by 84.9% during the fourth quarter. Pacer Advisors Inc. now owns 15,924 shares of the information technology services provider’s stock valued at $3,620,000 after buying an additional 7,310 shares during the period. Portside Wealth Group LLC bought a new stake in shares of CDW during the fourth quarter valued at about $230,000. Finally, Raymond James Financial Services Advisors Inc. lifted its holdings in shares of CDW by 16.1% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 49,011 shares of the information technology services provider’s stock worth $11,141,000 after buying an additional 6,799 shares in the last quarter. Institutional investors own 93.15% of the company’s stock.

CDW Trading Down 0.6 %

CDW stock opened at $251.63 on Wednesday. The company has a market capitalization of $33.77 billion, a PE ratio of 31.07, a price-to-earnings-growth ratio of 2.90 and a beta of 1.09. The company has a debt-to-equity ratio of 2.46, a quick ratio of 1.11 and a current ratio of 1.23. CDW Co. has a one year low of $160.66 and a one year high of $259.38. The company’s 50 day moving average price is $243.66 and its two-hundred day moving average price is $223.78.

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

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

CDW Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 12th. Stockholders of record on Monday, February 26th were paid a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a dividend yield of 0.99%. The ex-dividend date of this dividend was Friday, February 23rd. CDW’s dividend payout ratio (DPR) is presently 30.62%.

Wall Street Analyst Weigh In

CDW has been the subject of several recent analyst reports. Evercore ISI boosted their price objective on shares of CDW from $250.00 to $300.00 and gave the company an “outperform” rating in a research note on Friday, March 22nd. JPMorgan Chase & Co. increased their price objective on CDW from $253.00 to $267.00 and gave the stock an “overweight” rating in a research report on Thursday, February 8th. Barclays boosted their target price on CDW from $219.00 to $261.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 8th. Finally, Morgan Stanley cut CDW from an “overweight” rating to an “equal weight” rating and set a $216.00 price target on the stock. in a report on Tuesday, December 12th. Four research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, CDW has a consensus rating of “Moderate Buy” and an average price target of $228.60.

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About CDW

(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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