Kestra Private Wealth Services LLC Purchases Shares of 1,824 CDW Co. (NASDAQ:CDW)

Kestra Private Wealth Services LLC purchased a new stake in shares of CDW Co. (NASDAQ:CDW) in the fourth quarter, HoldingsChannel reports. The institutional investor purchased 1,824 shares of the information technology services provider’s stock, valued at approximately $415,000.

A number of other large investors have also made changes to their positions in CDW. Northern Trust Corp grew its stake in shares of CDW by 1.6% during the 3rd quarter. Northern Trust Corp now owns 1,331,127 shares of the information technology services provider’s stock valued at $268,568,000 after acquiring an additional 20,345 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its stake in shares of CDW by 3.3% during the 3rd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 1,315,983 shares of the information technology services provider’s stock valued at $265,513,000 after acquiring an additional 41,472 shares during the period. Barclays PLC boosted its stake in CDW by 2.1% in the 3rd quarter. Barclays PLC now owns 1,016,132 shares of the information technology services provider’s stock worth $205,014,000 after purchasing an additional 20,934 shares during the period. American Century Companies Inc. boosted its stake in CDW by 2.5% in the 3rd quarter. American Century Companies Inc. now owns 832,548 shares of the information technology services provider’s stock worth $167,975,000 after purchasing an additional 20,152 shares during the period. Finally, California Public Employees Retirement System boosted its stake in CDW by 0.4% in the 4th quarter. California Public Employees Retirement System now owns 822,093 shares of the information technology services provider’s stock worth $186,878,000 after purchasing an additional 3,082 shares during the period. 93.15% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Barclays dropped their price target on CDW from $261.00 to $232.00 and set an “equal weight” rating for the company in a research note on Thursday, May 2nd. Evercore ISI upped their price target on CDW from $250.00 to $300.00 and gave the stock an “outperform” rating in a research note on Friday, March 22nd. Citigroup dropped their price target on CDW from $295.00 to $260.00 and set a “buy” rating for the company in a research note on Thursday, May 2nd. Stifel Nicolaus dropped their price target on CDW from $265.00 to $250.00 and set a “buy” rating for the company in a research note on Thursday, May 2nd. Finally, JPMorgan Chase & Co. dropped their price target on CDW from $280.00 to $265.00 and set an “overweight” rating for the company in a research note on Thursday, May 2nd. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, CDW currently has an average rating of “Moderate Buy” and a consensus price target of $247.50.

CDW Stock Up 1.0 %

Shares of CDW opened at $221.82 on Tuesday. The stock has a market capitalization of $29.81 billion, a price-to-earnings ratio of 27.69, a price-to-earnings-growth ratio of 3.16 and a beta of 1.09. CDW Co. has a 1 year low of $164.62 and a 1 year high of $263.37. The business’s 50 day simple moving average is $245.18 and its 200-day simple moving average is $229.60. The company has a debt-to-equity ratio of 2.35, a current ratio of 1.26 and a quick ratio of 1.13.

CDW (NASDAQ:CDW) last released its quarterly earnings results on Wednesday, February 7th. The information technology services provider reported $2.57 earnings per share for the quarter, beating the consensus estimate of $2.56 by $0.01. CDW had a return on equity of 67.56% and a net margin of 5.16%. The company had revenue of $5.02 billion for the quarter, compared to analyst estimates of $5.32 billion. During the same quarter in the prior year, the firm posted $2.40 EPS. CDW’s quarterly revenue was down 7.7% compared to the same quarter last year. As a group, equities analysts expect that CDW Co. will post 9.89 earnings per share for the current fiscal year.

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

CDW Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 11th. Investors of record on Friday, May 24th will be issued a dividend of $0.62 per share. The ex-dividend date is Thursday, May 23rd. This represents a $2.48 annualized dividend and a yield of 1.12%. CDW’s payout ratio is presently 30.96%.

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.