Bleakley Financial Group LLC Increases Holdings in CDW Co. (NASDAQ:CDW)

Bleakley Financial Group LLC boosted its position in CDW Co. (NASDAQ:CDW) by 2.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,907 shares of the information technology services provider’s stock after purchasing an additional 65 shares during the period. Bleakley Financial Group LLC’s holdings in CDW were worth $661,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of CDW. Nisa Investment Advisors LLC increased its stake in shares of CDW by 12.5% during the 4th quarter. Nisa Investment Advisors LLC now owns 6,754 shares of the information technology services provider’s stock worth $1,535,000 after purchasing an additional 750 shares in the last quarter. Vaughan Nelson Investment Management L.P. raised its holdings in shares of CDW by 27.9% in the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 143,359 shares of the information technology services provider’s stock worth $32,588,000 after acquiring an additional 31,307 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of CDW by 289.1% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 146,228 shares of the information technology services provider’s stock valued at $33,241,000 after acquiring an additional 108,648 shares in the last quarter. DekaBank Deutsche Girozentrale boosted its stake in shares of CDW by 31.4% during the fourth quarter. DekaBank Deutsche Girozentrale now owns 56,111 shares of the information technology services provider’s stock valued at $12,769,000 after acquiring an additional 13,416 shares during the last quarter. Finally, International Assets Investment Management LLC acquired a new stake in shares of CDW during the fourth quarter valued at $65,240,000. 93.15% of the stock is currently owned by hedge funds and other institutional investors.

CDW Stock Down 2.1 %

Shares of CDW stock opened at $242.91 on Friday. The company has a fifty day moving average price of $247.19 and a 200 day moving average price of $226.01. The company has a current ratio of 1.23, a quick ratio of 1.11 and a debt-to-equity ratio of 2.46. CDW Co. has a twelve month low of $160.66 and a twelve month high of $263.37. The stock has a market cap of $32.60 billion, a price-to-earnings ratio of 29.99, a price-to-earnings-growth ratio of 2.80 and a beta of 1.09.

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

CDW announced that its Board of Directors has authorized a stock repurchase plan on Wednesday, February 7th that allows the company to buyback $750.00 million in shares. This buyback authorization allows the information technology services provider to purchase up to 2.4% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

CDW Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 12th. Investors of record on Monday, February 26th were issued a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a yield of 1.02%. The ex-dividend date of this dividend was Friday, February 23rd. CDW’s payout ratio is 30.62%.

Analyst Ratings Changes

A number of research analysts have issued reports on CDW shares. Barclays upped their target price on shares of CDW from $219.00 to $261.00 and gave the company an “equal weight” rating in a report on Thursday, February 8th. JPMorgan Chase & Co. boosted their price target on CDW from $267.00 to $280.00 and gave the company an “overweight” rating in a report on Thursday. Evercore ISI raised their price objective on CDW from $250.00 to $300.00 and gave the stock an “outperform” rating in a report on Friday, March 22nd. Finally, Citigroup upped their target price on CDW from $255.00 to $295.00 and gave the company a “buy” rating in a research note on Thursday, April 4th. Four investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, CDW has an average rating of “Moderate Buy” and an average target price of $238.90.

CDW 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.