Florida Financial Advisors LLC Grows Position in CDW Co. (NASDAQ:CDW)

Florida Financial Advisors LLC increased its position in CDW Co. (NASDAQ:CDW) by 22.6% during the 4th quarter, Holdings Channel.com reports. The firm owned 3,024 shares of the information technology services provider’s stock after purchasing an additional 557 shares during the period. Florida Financial Advisors LLC’s holdings in CDW were worth $526,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Raymond James Trust N.A. raised its holdings in CDW by 4.0% in the third quarter. Raymond James Trust N.A. now owns 2,197 shares of the information technology services provider’s stock worth $497,000 after buying an additional 85 shares during the last quarter. Cerity Partners LLC lifted its position in CDW by 18.9% in the 3rd quarter. Cerity Partners LLC now owns 39,301 shares of the information technology services provider’s stock valued at $8,894,000 after acquiring an additional 6,235 shares in the last quarter. Swedbank AB increased its holdings in shares of CDW by 1.8% in the 3rd quarter. Swedbank AB now owns 52,123 shares of the information technology services provider’s stock worth $11,795,000 after purchasing an additional 928 shares in the last quarter. Summit Trail Advisors LLC boosted its position in shares of CDW by 5.3% during the third quarter. Summit Trail Advisors LLC now owns 3,984 shares of the information technology services provider’s stock valued at $902,000 after buying an additional 199 shares during the last quarter. Finally, Daiwa Securities Group Inc. raised its position in CDW by 20.6% in the 3rd quarter. Daiwa Securities Group Inc. now owns 26,999 shares of the information technology services provider’s stock worth $6,110,000 after buying an additional 4,620 shares during the last quarter. Institutional investors own 93.15% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently commented on the stock. Barclays lifted their price target on shares of CDW from $201.00 to $223.00 and gave the stock an “equal weight” rating in a research note 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 report on Thursday, February 6th. Finally, UBS Group dropped their price target on CDW from $233.00 to $220.00 and set a “buy” rating on the stock in a research note on Tuesday, January 7th. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, CDW has an average rating of “Moderate Buy” and an average target price of $235.50.

CDW Stock Performance

NASDAQ:CDW opened at $170.31 on Tuesday. 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 has a 50-day simple moving average of $184.19 and a two-hundred day simple moving average of $192.73. The firm has a market capitalization of $22.56 billion, a PE ratio of 21.37, a P/E/G ratio of 3.21 and a beta of 1.01. CDW Co. has a 52-week low of $162.84 and a 52-week high of $263.37.

CDW (NASDAQ:CDW) last released 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%. Analysts forecast that CDW Co. will post 9.41 EPS for the current year.

CDW announced that its board has approved a share buyback plan on Wednesday, February 5th that allows the company to buyback $750.00 million in outstanding shares. This buyback authorization allows the information technology services provider to purchase up to 2.7% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.

CDW Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 11th. Investors of record on Tuesday, February 25th were paid a dividend of $0.625 per share. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.47%. The ex-dividend date was Tuesday, February 25th. CDW’s dividend payout ratio (DPR) is 31.37%.

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.