Aigen Investment Management LP Buys 25,346 Shares of CDW Co. (NASDAQ:CDW)

Aigen Investment Management LP raised its holdings in CDW Co. (NASDAQ:CDW) by 714.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 28,895 shares of the information technology services provider’s stock after purchasing an additional 25,346 shares during the period. CDW accounts for approximately 0.9% of Aigen Investment Management LP’s portfolio, making the stock its 4th largest holding. Aigen Investment Management LP’s holdings in CDW were worth $5,029,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Allworth Financial LP lifted its holdings in CDW by 39.7% in the 4th quarter. Allworth Financial LP now owns 183 shares of the information technology services provider’s stock valued at $32,000 after purchasing an additional 52 shares in the last quarter. Parkside Financial Bank & Trust increased its holdings in shares of CDW by 38.9% during the 4th quarter. Parkside Financial Bank & Trust now owns 207 shares of the information technology services provider’s stock worth $36,000 after buying an additional 58 shares during the last quarter. Ashton Thomas Securities LLC purchased a new stake in CDW during the third quarter valued at about $43,000. Canoe Financial LP raised its holdings in shares of CDW by 68.3% in the 4th quarter. Canoe Financial LP now owns 276 shares of the information technology services provider’s stock worth $48,000 after purchasing an additional 112 shares during the period. Finally, Covestor Ltd grew its holdings in shares of CDW by 80.1% during the 3rd 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 hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on CDW shares. Morgan Stanley increased their price objective on shares of CDW from $193.00 to $201.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 6th. UBS Group dropped 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. Redburn Atlantic initiated coverage on CDW in a report on Friday, November 15th. They set a “buy” rating and a $230.00 price objective on the stock. Finally, Barclays boosted their price objective on shares of CDW from $201.00 to $223.00 and gave the company an “equal weight” rating in a research report on Thursday, February 6th. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $242.67.

CDW Price Performance

NASDAQ CDW opened at $171.32 on Wednesday. The firm has a market capitalization of $22.70 billion, a PE ratio of 21.50, 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 current ratio of 1.35 and a quick ratio of 1.24. CDW Co. has a 12 month low of $168.43 and a 12 month high of $263.37. The company’s 50 day simple moving average is $186.74 and its 200 day simple moving average is $198.47.

CDW (NASDAQ:CDW) last announced its quarterly earnings data on Wednesday, February 5th. The information technology services provider reported $2.40 earnings per share 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 research analysts forecast that CDW Co. will post 9.41 EPS for the current fiscal year.

CDW Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 11th. Investors of record on Tuesday, February 25th will be issued a $0.625 dividend. The ex-dividend date is Tuesday, February 25th. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.46%. CDW’s payout ratio is currently 31.37%.

CDW declared that its board has initiated a stock buyback plan on Wednesday, February 5th that authorizes the company to repurchase $750.00 million in outstanding shares. This repurchase authorization authorizes the information technology services provider to reacquire up to 2.7% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board 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.