Gitterman Wealth Management LLC Invests $225,000 in CDW Co. (NASDAQ:CDW)

Gitterman Wealth Management LLC acquired a new stake in CDW Co. (NASDAQ:CDW) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 991 shares of the information technology services provider’s stock, valued at approximately $225,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Scotia Capital Inc. grew its stake in shares of CDW by 1.5% during the third quarter. Scotia Capital Inc. now owns 3,495 shares of the information technology services provider’s stock worth $705,000 after purchasing an additional 50 shares during the period. Diversified Trust Co increased its stake in shares of CDW by 4.6% in the 4th quarter. Diversified Trust Co now owns 1,157 shares of the information technology services provider’s stock valued at $263,000 after acquiring an additional 51 shares during the last quarter. Phoenix Holdings Ltd. raised its position in shares of CDW by 4.3% in the 3rd quarter. Phoenix Holdings Ltd. now owns 1,262 shares of the information technology services provider’s stock valued at $257,000 after acquiring an additional 52 shares during the period. Fidelis Capital Partners LLC boosted its stake in CDW by 4.5% during the 4th quarter. Fidelis Capital Partners LLC now owns 1,229 shares of the information technology services provider’s stock worth $279,000 after acquiring an additional 53 shares during the last quarter. Finally, TFC Financial Management Inc. grew its holdings in CDW by 61.1% during the third quarter. TFC Financial Management Inc. now owns 145 shares of the information technology services provider’s stock valued at $29,000 after purchasing an additional 55 shares during the period. 93.15% of the stock is owned by institutional investors.

CDW Stock Down 0.5 %

CDW stock traded down $1.16 during midday trading on Friday, hitting $242.26. The company’s stock had a trading volume of 424,550 shares, compared to its average volume of 592,743. The company’s fifty day moving average price is $247.25 and its 200 day moving average price is $228.67. CDW Co. has a twelve month low of $162.59 and a twelve month high of $263.37. The company has a debt-to-equity ratio of 2.46, a current ratio of 1.23 and a quick ratio of 1.11. The stock has a market capitalization of $32.55 billion, a P/E ratio of 29.91, a PEG ratio of 2.74 and a beta of 1.09.

CDW (NASDAQ:CDW) last released its earnings results on Wednesday, February 7th. The information technology services provider reported $2.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.56 by $0.01. The business had revenue of $5.02 billion for the quarter, compared to analyst estimates of $5.32 billion. CDW had a return on equity of 73.93% and a net margin of 5.17%. CDW’s revenue was down 7.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.40 earnings per share. As a group, equities research analysts predict that CDW Co. will post 9.89 EPS for the current year.

CDW declared that its board has authorized a share repurchase program on Wednesday, February 7th that allows the company to buyback $750.00 million in outstanding shares. This buyback authorization allows the information technology services provider to repurchase up to 2.4% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s management believes its shares are undervalued.

CDW Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 12th. Investors of record on Monday, February 26th were issued a dividend of $0.62 per share. The ex-dividend date was Friday, February 23rd. This represents a $2.48 dividend on an annualized basis and a yield of 1.02%. CDW’s payout ratio is 30.62%.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the stock. JPMorgan Chase & Co. lifted their price target on shares of CDW from $267.00 to $280.00 and gave the stock an “overweight” rating in a research report on Thursday, April 11th. Evercore ISI boosted their target price on CDW from $250.00 to $300.00 and gave the company an “outperform” rating in a research note on Friday, March 22nd. Barclays increased their price objective on shares of CDW from $219.00 to $261.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 8th. Finally, Citigroup upped their target price on shares of CDW from $255.00 to $295.00 and gave the stock a “buy” rating in a research note on Thursday, April 4th. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $242.67.

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.