CDW Co. (NASDAQ:CDW) Shares Purchased by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC boosted its position in shares of CDW Co. (NASDAQ:CDW) by 12.5% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 6,754 shares of the information technology services provider’s stock after purchasing an additional 750 shares during the period. Nisa Investment Advisors LLC’s holdings in CDW were worth $1,535,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. OFI Invest Asset Management purchased a new position in CDW during the 3rd quarter worth approximately $25,000. VisionPoint Advisory Group LLC purchased a new position in CDW during the 3rd quarter worth approximately $28,000. TFC Financial Management Inc. grew its position in 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 purchasing an additional 55 shares in the last quarter. Altshuler Shaham Ltd purchased a new position in CDW during the 4th quarter worth approximately $33,000. Finally, Orion Capital Management LLC purchased a new position in CDW during the 3rd quarter worth approximately $35,000. 93.15% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Evercore ISI boosted their price target on shares of CDW from $250.00 to $300.00 and gave the company an “outperform” rating in a report on Friday, March 22nd. JPMorgan Chase & Co. boosted their price target on shares of CDW from $267.00 to $280.00 and gave the company an “overweight” rating in a report on Thursday. Barclays boosted their price target 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. Finally, Citigroup boosted their price target on shares of CDW from $255.00 to $295.00 and gave the company a “buy” rating in a report on Thursday, April 4th. Four investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $238.90.

CDW Stock Down 2.1 %

CDW stock opened at $242.91 on Monday. The firm has a market cap of $32.64 billion, a PE ratio of 29.99, a PEG ratio of 2.75 and a beta of 1.09. 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 1 year low of $160.66 and a 1 year high of $263.37. The company has a fifty day simple moving average of $247.19 and a 200 day simple moving average of $226.38.

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

CDW Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 12th. Shareholders of record on Monday, February 26th were given 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 dividend payout ratio is 30.62%.

CDW declared that its Board of Directors has approved a share buyback plan on Wednesday, February 7th that authorizes the company to buyback $750.00 million in shares. This buyback authorization authorizes the information technology services provider to reacquire up to 2.4% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its shares are undervalued.

About CDW

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.