Impax Asset Management Group plc boosted its holdings in CDW Co. (NASDAQ:CDW – Free Report) by 22.7% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 41,295 shares of the information technology services provider’s stock after buying an additional 7,642 shares during the quarter. Impax Asset Management Group plc’s holdings in CDW were worth $7,187,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently made changes to their positions in the company. Allworth Financial LP increased its stake in shares of 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 buying an additional 52 shares during the period. Canoe Financial LP bought a new stake in CDW during the 3rd quarter worth approximately $37,000. Fortitude Family Office LLC increased its position in CDW by 350.0% in the 3rd quarter. Fortitude Family Office LLC now owns 171 shares of the information technology services provider’s stock valued at $39,000 after acquiring an additional 133 shares during the period. Ashton Thomas Securities LLC bought a new position in shares of CDW during the third quarter valued at $43,000. Finally, Covestor Ltd lifted its holdings in shares of CDW by 80.1% during the third quarter. Covestor Ltd now owns 245 shares of the information technology services provider’s stock worth $55,000 after purchasing an additional 109 shares during the period. 93.15% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of analysts recently weighed in on CDW shares. Barclays increased their price objective on CDW from $201.00 to $223.00 and gave the company an “equal weight” rating in a report on Thursday, February 6th. Morgan Stanley increased their price target on CDW from $193.00 to $201.00 and gave the company an “equal weight” rating in a research note on Thursday, February 6th. JPMorgan Chase & Co. lowered CDW from an “overweight” rating to a “neutral” rating and cut their price objective for the stock from $260.00 to $235.00 in a research note on Monday, October 28th. Redburn Atlantic began coverage on CDW in a report on Friday, November 15th. They issued a “buy” rating and a $230.00 target price on the stock. Finally, UBS Group dropped their price target on shares of CDW from $233.00 to $220.00 and set a “buy” rating on the stock in a research report on Tuesday, January 7th. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $242.67.
CDW Price Performance
CDW stock opened at $186.69 on Tuesday. The stock has a market capitalization of $24.88 billion, a price-to-earnings ratio of 23.42, a PEG ratio of 3.21 and a beta of 1.01. CDW Co. has a 52-week low of $168.43 and a 52-week high of $263.37. The company has a debt-to-equity ratio of 2.38, a quick ratio of 1.24 and a current ratio of 1.35. The stock’s 50 day moving average price is $186.32 and its two-hundred day moving average price is $199.79.
CDW (NASDAQ:CDW – Get Free Report) last issued its earnings results on Wednesday, February 5th. The information technology services provider reported $2.40 earnings per share (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%. On average, equities analysts predict that CDW Co. will post 9.41 earnings per share for the current year.
CDW declared that its Board of Directors has authorized a stock repurchase 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 stock through open market purchases. Stock buyback plans are usually a sign that the company’s management believes its shares are undervalued.
CDW Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 11th. Stockholders of record on Tuesday, February 25th will be issued a dividend of $0.625 per share. The ex-dividend date is Tuesday, February 25th. This represents a $2.50 annualized dividend and a dividend yield of 1.34%. CDW’s dividend payout ratio is currently 31.37%.
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.
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