Oppenheimer & Co. Inc. Grows Stock Position in CDW Co. (NASDAQ:CDW)

Oppenheimer & Co. Inc. increased its position in shares of CDW Co. (NASDAQ:CDW) by 41.5% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,389 shares of the information technology services provider’s stock after buying an additional 701 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in CDW were worth $416,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in CDW. Massachusetts Financial Services Co. MA purchased a new stake in shares of CDW during the 3rd quarter valued at approximately $416,111,000. Janus Henderson Group PLC raised its position in CDW by 7,029.1% in the third quarter. Janus Henderson Group PLC now owns 1,466,597 shares of the information technology services provider’s stock valued at $331,891,000 after purchasing an additional 1,446,025 shares during the period. Holocene Advisors LP purchased a new stake in CDW in the third quarter valued at approximately $172,217,000. Assenagon Asset Management S.A. raised its position in CDW by 7,549.9% in the fourth quarter. Assenagon Asset Management S.A. now owns 256,271 shares of the information technology services provider’s stock valued at $44,601,000 after purchasing an additional 252,921 shares during the period. Finally, Unigestion Holding SA raised its position in CDW by 917.4% in the third quarter. Unigestion Holding SA now owns 172,469 shares of the information technology services provider’s stock valued at $39,021,000 after purchasing an additional 155,517 shares during the period. Hedge funds and other institutional investors own 93.15% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on CDW. UBS Group cut their target price on CDW from $233.00 to $220.00 and set a “buy” rating on the stock in a research report on Tuesday, January 7th. Barclays boosted their target price on CDW from $201.00 to $223.00 and gave the company an “equal weight” rating in a research report on Thursday, February 6th. Morgan Stanley boosted their target price on CDW from $193.00 to $201.00 and gave the company an “equal weight” rating in a research report on Thursday, February 6th. Finally, Redburn Atlantic initiated coverage on CDW in a research report on Friday, November 15th. They issued a “buy” rating and a $230.00 target price on the stock. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, CDW has an average rating of “Moderate Buy” and an average target price of $242.67.

CDW Stock Up 0.7 %

Shares of NASDAQ CDW opened at $168.37 on Friday. The stock has a market cap of $22.31 billion, a P/E ratio of 21.13, a PEG ratio of 3.21 and a beta of 1.01. The company has a current ratio of 1.35, a quick ratio of 1.24 and a debt-to-equity ratio of 2.38. CDW Co. has a 12-month low of $164.98 and a 12-month high of $263.37. The business’s fifty day simple moving average is $186.37 and its 200-day simple moving average is $197.71.

CDW (NASDAQ:CDW) last posted its earnings results on Wednesday, February 5th. The information technology services provider reported $2.40 EPS for the quarter, beating the consensus estimate of $2.33 by $0.07. CDW had a return on equity of 55.42% and a net margin of 5.13%. As a group, equities analysts predict that CDW Co. will post 9.41 EPS for the current fiscal year.

CDW Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 11th. Shareholders of record on Tuesday, February 25th will be issued a dividend of $0.625 per share. This represents a $2.50 annualized dividend and a dividend yield of 1.48%. The ex-dividend date of this dividend is Tuesday, February 25th. CDW’s payout ratio is 31.37%.

CDW declared that its Board of Directors has initiated a stock repurchase program on Wednesday, February 5th that permits the company to buyback $750.00 million in outstanding shares. This buyback authorization permits the information technology services provider to reacquire up to 2.7% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s board believes its stock is 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.