CDW Co. (NASDAQ:CDW) Shares Purchased by First Trust Direct Indexing L.P.

First Trust Direct Indexing L.P. boosted its position in shares of CDW Co. (NASDAQ:CDW) by 19.8% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,855 shares of the information technology services provider’s stock after acquiring an additional 307 shares during the period. First Trust Direct Indexing L.P.’s holdings in CDW were worth $422,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. OFI Invest Asset Management acquired a new position in CDW in the third quarter valued at $25,000. VisionPoint Advisory Group LLC acquired a new stake in shares of CDW in the 3rd quarter valued at about $28,000. Larson Financial Group LLC purchased a new position in CDW during the 4th quarter worth approximately $30,000. Orion Capital Management LLC acquired a new position in CDW during the third quarter worth approximately $35,000. Finally, ORG Partners LLC purchased a new stake in CDW in the fourth quarter valued at approximately $36,000. 93.15% of the stock is owned by hedge funds and other institutional investors.

CDW Stock Performance

Shares of CDW opened at $221.82 on Tuesday. The company has a quick ratio of 1.13, a current ratio of 1.26 and a debt-to-equity ratio of 2.35. CDW Co. has a 52-week low of $164.62 and a 52-week high of $263.37. The company has a 50-day simple moving average of $245.18 and a 200-day simple moving average of $229.60. The company has a market capitalization of $29.81 billion, a PE ratio of 27.69, a P/E/G ratio of 3.16 and a beta of 1.09.

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, beating analysts’ consensus estimates of $2.56 by $0.01. The company had revenue of $5.02 billion during the quarter, compared to analysts’ expectations of $5.32 billion. CDW had a net margin of 5.16% and a return on equity of 67.56%. The firm’s quarterly revenue was down 7.7% compared to the same quarter last year. During the same period last year, the company posted $2.40 earnings per share. Equities research analysts predict that CDW Co. will post 9.89 earnings per share for the current fiscal year.

CDW Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 11th. Shareholders of record on Friday, May 24th will be issued a $0.62 dividend. This represents a $2.48 annualized dividend and a yield of 1.12%. The ex-dividend date is Thursday, May 23rd. CDW’s dividend payout ratio (DPR) is 30.96%.

CDW declared that its board has authorized a stock buyback 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 repurchase up to 2.4% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.

Wall Street Analyst Weigh In

CDW has been the topic of a number of recent research reports. Stifel Nicolaus cut their target price on shares of CDW from $265.00 to $250.00 and set a “buy” rating on the stock in a report on Thursday, May 2nd. Barclays dropped their target price on CDW from $261.00 to $232.00 and set an “equal weight” rating on the stock in a report on Thursday, May 2nd. Evercore ISI lifted their price objective on shares of CDW from $250.00 to $300.00 and gave the company an “outperform” rating in a research report on Friday, March 22nd. Citigroup cut their price objective on shares of CDW from $295.00 to $260.00 and set a “buy” rating for the company in a research report on Thursday, May 2nd. Finally, JPMorgan Chase & Co. lowered their target price on shares of CDW from $280.00 to $265.00 and set an “overweight” rating on the stock in a report on Thursday, May 2nd. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $247.50.

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.