Cary Street Partners Financial LLC Makes New Investment in CDW Co. (NASDAQ:CDW)

Cary Street Partners Financial LLC acquired a new position in CDW Co. (NASDAQ:CDW) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 1,252 shares of the information technology services provider’s stock, valued at approximately $218,000.

Several other institutional investors have also recently modified their holdings of CDW. Barclays PLC lifted its position in CDW by 0.3% during the third quarter. Barclays PLC now owns 1,156,789 shares of the information technology services provider’s stock valued at $261,779,000 after purchasing an additional 3,424 shares during the period. Franklin Resources Inc. lifted its holdings in shares of CDW by 3.4% in the 3rd quarter. Franklin Resources Inc. now owns 108,009 shares of the information technology services provider’s stock valued at $24,138,000 after buying an additional 3,567 shares during the period. Nordea Investment Management AB boosted its stake in shares of CDW by 3.6% in the fourth quarter. Nordea Investment Management AB now owns 11,260 shares of the information technology services provider’s stock worth $1,967,000 after buying an additional 395 shares during the last quarter. Ridgewood Investments LLC acquired a new stake in CDW during the fourth quarter worth about $104,000. Finally, ORG Wealth Partners LLC purchased a new position in CDW during the fourth quarter valued at approximately $69,000. 93.15% of the stock is currently owned by hedge funds and other institutional investors.

CDW Trading Down 0.6 %

CDW stock opened at $178.94 on Friday. The business’s 50-day moving average is $161.13 and its 200 day moving average is $177.42. CDW Co. has a 12-month low of $137.31 and a 12-month high of $241.26. The stock has a market cap of $23.58 billion, a price-to-earnings ratio of 22.45, a PEG ratio of 3.21 and a beta of 0.91. The company has a current ratio of 1.35, a quick ratio of 1.24 and a debt-to-equity ratio of 2.38.

CDW (NASDAQ:CDW) last posted its quarterly earnings data on Wednesday, May 7th. The information technology services provider reported $2.15 EPS for the quarter, beating the consensus estimate of $1.96 by $0.19. CDW had a return on equity of 55.42% and a net margin of 5.13%. The firm had revenue of $5.20 billion during the quarter, compared to the consensus estimate of $4.93 billion. During the same period in the prior year, the company earned $1.92 EPS. The firm’s revenue was up 6.7% compared to the same quarter last year. On average, sell-side analysts anticipate that CDW Co. will post 9.41 EPS for the current fiscal year.

CDW Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Monday, May 26th will be given a dividend of $0.625 per share. The ex-dividend date of this dividend is Friday, May 23rd. This represents a $2.50 dividend on an annualized basis and a yield of 1.40%. CDW’s payout ratio is presently 31.37%.

CDW declared that its board has approved a stock repurchase program 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 buy up to 2.7% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

Wall Street Analyst Weigh In

CDW has been the topic of several recent research reports. JPMorgan Chase & Co. lowered their price objective on CDW from $222.00 to $175.00 and set a “neutral” rating on the stock in a research report on Thursday, April 17th. UBS Group lowered their price target on shares of CDW from $236.00 to $210.00 and set a “buy” rating on the stock in a report on Thursday. Barclays cut their price objective on shares of CDW from $223.00 to $205.00 and set an “equal weight” rating for the company in a report on Thursday. Morgan Stanley increased their target price on shares of CDW from $193.00 to $201.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 6th. Finally, Citigroup lifted their price target on CDW from $160.00 to $180.00 and gave the company a “neutral” rating in a research note on Thursday. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $216.38.

Insider Activity at CDW

In other CDW news, insider Christine A. Leahy sold 40,917 shares of the business’s stock in a transaction on Thursday, May 8th. The stock was sold at an average price of $181.42, for a total transaction of $7,423,162.14. Following the transaction, the insider now owns 144,931 shares of the company’s stock, valued at approximately $26,293,382.02. The trade was a 22.02 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.90% of the stock is owned by corporate insiders.

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.