CDW Co. (NASDAQ:CDW) Shares Purchased by Proficio Capital Partners LLC

Proficio Capital Partners LLC boosted its stake in CDW Co. (NASDAQ:CDW) by 5.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,948 shares of the information technology services provider’s stock after acquiring an additional 205 shares during the period. Proficio Capital Partners LLC’s holdings in CDW were worth $687,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Allworth Financial LP raised its holdings in CDW by 39.7% in the fourth quarter. Allworth Financial LP now owns 183 shares of the information technology services provider’s stock valued at $32,000 after acquiring an additional 52 shares in the last quarter. Parkside Financial Bank & Trust raised its holdings in CDW by 38.9% in the fourth quarter. Parkside Financial Bank & Trust now owns 207 shares of the information technology services provider’s stock valued at $36,000 after acquiring an additional 58 shares in the last quarter. Canoe Financial LP raised its holdings in CDW by 68.3% in the fourth quarter. Canoe Financial LP now owns 276 shares of the information technology services provider’s stock valued at $48,000 after acquiring an additional 112 shares in the last quarter. Brooklyn Investment Group acquired a new stake in CDW in the third quarter valued at $90,000. Finally, ORG Wealth Partners LLC acquired a new stake in shares of CDW during the fourth quarter worth $69,000. 93.15% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. Morgan Stanley increased their target price on shares of CDW from $193.00 to $201.00 and gave the stock an “equal weight” rating in a report on Thursday, February 6th. UBS Group dropped their target price on shares of CDW from $233.00 to $220.00 and set a “buy” rating on the stock in a report on Tuesday, January 7th. Finally, Barclays increased their target price on shares of CDW from $201.00 to $223.00 and gave the stock an “equal weight” rating in a report on Thursday, February 6th. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $235.50.

CDW Stock Down 1.5 %

CDW stock opened at $165.57 on Friday. The company has a 50-day simple moving average of $184.40 and a 200-day simple moving average of $193.19. The firm has a market capitalization of $21.94 billion, a P/E ratio of 20.77, a P/E/G ratio of 3.21 and a beta of 1.01. The company has a debt-to-equity ratio of 2.38, a quick ratio of 1.24 and a current ratio of 1.35. CDW Co. has a one year low of $162.84 and a one year high of $263.37.

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

CDW Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 11th. Stockholders of record on Tuesday, February 25th were given a dividend of $0.625 per share. The ex-dividend date of this dividend was Tuesday, February 25th. This represents a $2.50 annualized dividend and a dividend yield of 1.51%. CDW’s dividend payout ratio is currently 31.37%.

CDW declared that its board has approved a stock buyback plan on Wednesday, February 5th 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 2.7% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its shares are undervalued.

CDW Company 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.