Simplicity Solutions LLC Raises Holdings in CDW Co. (NASDAQ:CDW)

Simplicity Solutions LLC grew its position in shares of CDW Co. (NASDAQ:CDW) by 2.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,907 shares of the information technology services provider’s stock after buying an additional 65 shares during the period. Simplicity Solutions LLC’s holdings in CDW were worth $661,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in CDW. OFI Invest Asset Management purchased a new position in shares of CDW during the 3rd quarter valued at $25,000. VisionPoint Advisory Group LLC bought a new stake in shares of CDW during the 3rd quarter valued at $28,000. TFC Financial Management Inc. raised 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 valued at $29,000 after purchasing an additional 55 shares during the period. Altshuler Shaham Ltd bought a new stake in shares of CDW during the 4th quarter valued at $33,000. Finally, Orion Capital Management LLC bought a new stake in shares of CDW during the 3rd quarter valued at $35,000. Hedge funds and other institutional investors own 93.15% of the company’s stock.

CDW Trading Down 1.3 %

Shares of CDW stock opened at $236.78 on Thursday. The stock has a market capitalization of $31.82 billion, a PE ratio of 29.23, a P/E/G 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 50-day moving average of $247.57 and a 200 day moving average of $226.99. The company has a debt-to-equity ratio of 2.46, a current ratio of 1.23 and a quick ratio of 1.11.

CDW (NASDAQ:CDW) last released its quarterly earnings data on Wednesday, February 7th. The information technology services provider reported $2.57 earnings per share for the quarter, topping 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 business had revenue of $5.02 billion during the quarter, compared to analysts’ expectations of $5.32 billion. During the same quarter last year, the business posted $2.40 EPS. The business’s revenue was down 7.7% on a year-over-year basis. As a group, sell-side analysts anticipate that CDW Co. will post 9.88 earnings per share for the current year.

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

CDW Dividend Announcement

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

Wall Street Analyst Weigh In

A number of analysts recently issued reports on CDW shares. Barclays boosted their price objective on CDW from $219.00 to $261.00 and gave the company an “equal weight” rating in a research note on Thursday, February 8th. Citigroup upped their target price on CDW from $255.00 to $295.00 and gave the stock a “buy” rating in a research note on Thursday, April 4th. Evercore ISI upped 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. Finally, JPMorgan Chase & Co. upped their target price on CDW from $267.00 to $280.00 and gave the stock an “overweight” rating in a research note on Thursday, April 11th. Four equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $238.90.

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.