SVB Wealth LLC Purchases New Position in CDW Co. (NASDAQ:CDW)

SVB Wealth LLC purchased a new stake in CDW Co. (NASDAQ:CDW) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 41,862 shares of the information technology services provider’s stock, valued at approximately $7,286,000.

Several other large investors have also made changes to their positions in CDW. Massachusetts Financial Services Co. MA bought a new stake in shares of CDW in the 3rd quarter valued at approximately $416,111,000. Janus Henderson Group PLC grew its stake in shares of CDW by 7,029.1% in the 3rd quarter. Janus Henderson Group PLC now owns 1,466,597 shares of the information technology services provider’s stock valued at $331,891,000 after buying an additional 1,446,025 shares in the last quarter. Holocene Advisors LP bought a new stake in shares of CDW in the 3rd quarter valued at approximately $172,217,000. Proficio Capital Partners LLC grew its stake in shares of CDW by 18,259.3% in the 4th quarter. Proficio Capital Partners LLC now owns 687,189 shares of the information technology services provider’s stock valued at $119,598,000 after buying an additional 683,446 shares in the last quarter. Finally, Assenagon Asset Management S.A. grew its stake in shares of CDW by 7,549.9% in the 4th quarter. Assenagon Asset Management S.A. now owns 256,271 shares of the information technology services provider’s stock valued at $44,601,000 after buying an additional 252,921 shares in the last quarter. Institutional investors own 93.15% of the company’s stock.

CDW Stock Down 0.4 %

Shares of CDW stock opened at $178.20 on Friday. CDW Co. has a 12 month low of $168.43 and a 12 month high of $263.37. The firm has a market cap of $23.61 billion, a PE ratio of 22.36, a price-to-earnings-growth ratio of 3.21 and a beta of 1.01. The stock has a 50 day moving average of $186.73 and a 200-day moving average of $199.29. The company has a quick ratio of 1.24, a current ratio of 1.35 and a debt-to-equity ratio of 2.38.

CDW (NASDAQ:CDW) last issued its quarterly earnings results on Wednesday, February 5th. The information technology services provider reported $2.40 EPS for the quarter, topping 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, equities analysts predict that CDW Co. will post 9.41 EPS for the current year.

CDW Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 11th. Stockholders of record on Tuesday, February 25th will be issued a dividend of $0.625 per share. The ex-dividend date is Tuesday, February 25th. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.40%. CDW’s dividend payout ratio (DPR) is presently 31.37%.

CDW declared that its Board of Directors has approved a share repurchase program on Wednesday, February 5th that allows the company to buyback $750.00 million in shares. This buyback authorization allows the information technology services provider to repurchase up to 2.7% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on CDW shares. Morgan Stanley boosted their target price on CDW from $193.00 to $201.00 and gave the stock an “equal weight” rating in a report on Thursday, February 6th. Barclays boosted their target price on CDW from $201.00 to $223.00 and gave the stock an “equal weight” rating in a report on Thursday, February 6th. UBS Group reduced their target price on CDW from $233.00 to $220.00 and set a “buy” rating for the company in a report on Tuesday, January 7th. Finally, Redburn Atlantic started coverage on CDW in a report on Friday, November 15th. They issued a “buy” rating and a $230.00 target price for the company. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $242.67.

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.