Cerity Partners LLC Acquires 4,511 Shares of CDW Co. (NASDAQ:CDW)

Cerity Partners LLC lifted its holdings in CDW Co. (NASDAQ:CDW) by 44.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 14,553 shares of the information technology services provider’s stock after buying an additional 4,511 shares during the quarter. Cerity Partners LLC’s holdings in CDW were worth $3,308,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of CDW. Morgan Stanley raised its holdings in shares of CDW by 130.7% in the fourth quarter. Morgan Stanley now owns 2,442,301 shares of the information technology services provider’s stock worth $436,146,000 after buying an additional 1,383,869 shares during the period. Norges Bank purchased a new position in CDW during the 4th quarter worth $66,992,000. The Manufacturers Life Insurance Company increased its holdings in CDW by 91.8% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 728,446 shares of the information technology services provider’s stock worth $146,971,000 after purchasing an additional 348,749 shares during the period. Westfield Capital Management Co. LP purchased a new position in CDW during the 1st quarter worth $63,265,000. Finally, Lazard Asset Management LLC increased its holdings in CDW by 459.5% during the 3rd quarter. Lazard Asset Management LLC now owns 252,272 shares of the information technology services provider’s stock worth $50,898,000 after purchasing an additional 207,184 shares during the period. 93.15% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have commented on the company. Barclays raised their price objective on CDW from $219.00 to $261.00 and gave the stock an “equal weight” rating in a report on Thursday, February 8th. Citigroup raised their price objective on CDW from $255.00 to $295.00 and gave the stock a “buy” rating in a report on Thursday, April 4th. JPMorgan Chase & Co. increased their target price on CDW from $267.00 to $280.00 and gave the company an “overweight” rating in a research report on Thursday, April 11th. Finally, Evercore ISI increased their target price on CDW from $250.00 to $300.00 and gave the company an “outperform” rating in a research report on Friday, March 22nd. Four equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $238.90.

CDW Stock Down 1.3 %

CDW stock opened at $236.78 on Thursday. 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 stock has a market capitalization of $31.82 billion, a price-to-earnings ratio of 29.23, a PEG ratio of 2.74 and a beta of 1.09. CDW Co. has a 1-year low of $160.66 and a 1-year high of $263.37. The business has a fifty day moving average price of $247.57 and a 200-day moving average price of $226.99.

CDW (NASDAQ:CDW) last issued its earnings results on Wednesday, February 7th. The information technology services provider reported $2.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.56 by $0.01. The company 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 firm’s quarterly revenue was down 7.7% on a year-over-year basis. During the same quarter last year, the business posted $2.40 EPS. Equities research analysts forecast that CDW Co. will post 9.88 EPS for the current fiscal year.

CDW Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 12th. Investors of record on Monday, February 26th were paid a $0.62 dividend. The ex-dividend date was Friday, February 23rd. This represents a $2.48 dividend on an annualized basis and a yield of 1.05%. CDW’s dividend payout ratio (DPR) is 30.62%.

CDW declared that its Board of Directors has initiated a share buyback program on Wednesday, February 7th that permits the company to repurchase $750.00 million in 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 generally a sign that the company’s board of directors believes its stock is undervalued.

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.