Aquatic Capital Management LLC Takes Position in CDW Co. (NASDAQ:CDW)

Aquatic Capital Management LLC bought a new position in shares of CDW Co. (NASDAQ:CDW) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 33,994 shares of the information technology services provider’s stock, valued at approximately $5,916,000.

Several other institutional investors have also modified their holdings of CDW. Coldstream Capital Management Inc. increased its position in shares of CDW by 11.5% in the fourth quarter. Coldstream Capital Management Inc. now owns 1,778 shares of the information technology services provider’s stock valued at $309,000 after buying an additional 184 shares in the last quarter. Nebula Research & Development LLC purchased a new stake in shares of CDW in the fourth quarter valued at about $1,511,000. Two Creeks Capital Management LP purchased a new position in shares of CDW during the 4th quarter worth approximately $24,289,000. Hsbc Holdings PLC increased its stake in shares of CDW by 7.1% during the 4th quarter. Hsbc Holdings PLC now owns 302,098 shares of the information technology services provider’s stock worth $52,553,000 after purchasing an additional 19,922 shares in the last quarter. Finally, J. Safra Sarasin Holding AG purchased a new stake in CDW in the 4th quarter valued at approximately $468,000. Hedge funds and other institutional investors own 93.15% of the company’s stock.

CDW Stock Down 0.6 %

Shares of NASDAQ CDW opened at $157.95 on Friday. The stock has a market capitalization of $20.81 billion, a PE ratio of 19.82, a P/E/G ratio of 3.21 and a beta of 0.97. The company has a quick ratio of 1.24, a current ratio of 1.35 and a debt-to-equity ratio of 2.38. The firm has a fifty day moving average of $164.15 and a 200-day moving average of $181.09. CDW Co. has a 52-week low of $137.31 and a 52-week high of $248.12.

CDW (NASDAQ:CDW) last posted its quarterly earnings results on Wednesday, February 5th. The information technology services provider reported $2.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.33 by $0.07. CDW had a return on equity of 55.42% and a net margin of 5.13%. On average, analysts anticipate that CDW Co. will post 9.41 EPS for the current year.

CDW announced that its board has initiated a stock repurchase program on Wednesday, February 5th that allows the company to repurchase $750.00 million in shares. This repurchase authorization allows the information technology services provider to reacquire up to 2.7% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its shares are undervalued.

CDW Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 11th. Investors of record on Tuesday, February 25th were issued a $0.625 dividend. The ex-dividend date was Tuesday, February 25th. This represents a $2.50 annualized dividend and a yield of 1.58%. CDW’s payout ratio is 31.37%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on CDW. Barclays boosted their price target on CDW from $201.00 to $223.00 and gave the stock an “equal weight” rating in a report on Thursday, February 6th. JPMorgan Chase & Co. decreased their price target on shares of CDW from $222.00 to $175.00 and set a “neutral” rating on the stock in a research note on Thursday, April 17th. UBS Group cut their price objective on shares of CDW from $233.00 to $220.00 and set a “buy” rating for the company in a research report on Tuesday, January 7th. Citigroup lowered their target price on shares of CDW from $220.00 to $160.00 and set a “neutral” rating for the company in a research note on Monday, April 14th. Finally, Morgan Stanley increased their price target on CDW from $193.00 to $201.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 6th. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $217.38.

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.