EntryPoint Capital LLC Raises Stock Holdings in CDW Co. (NASDAQ:CDW)

EntryPoint Capital LLC raised its holdings in CDW Co. (NASDAQ:CDW) by 32.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,817 shares of the information technology services provider’s stock after purchasing an additional 698 shares during the period. EntryPoint Capital LLC’s holdings in CDW were worth $490,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in CDW. Allworth Financial LP raised its position in shares of CDW by 39.7% during the 4th quarter. Allworth Financial LP now owns 183 shares of the information technology services provider’s stock worth $32,000 after purchasing an additional 52 shares during the last quarter. OFI Invest Asset Management acquired a new position in shares of CDW during the fourth quarter valued at approximately $32,000. Parkside Financial Bank & Trust lifted its position in shares of CDW by 38.9% in the fourth quarter. Parkside Financial Bank & Trust now owns 207 shares of the information technology services provider’s stock valued at $36,000 after acquiring an additional 58 shares in the last quarter. Canoe Financial LP boosted its stake in shares of CDW by 68.3% in the fourth quarter. Canoe Financial LP now owns 276 shares of the information technology services provider’s stock worth $48,000 after acquiring an additional 112 shares during the last quarter. Finally, Brooklyn Investment Group acquired a new stake in shares of CDW in the third quarter worth approximately $90,000. 93.15% of the stock is currently owned by hedge funds and other institutional investors.

CDW Stock Performance

NASDAQ:CDW opened at $168.52 on Wednesday. The company’s 50-day moving average is $183.82 and its two-hundred day moving average is $192.42. The firm has a market capitalization of $22.33 billion, a price-to-earnings ratio of 21.14, a PEG 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 1-year low of $162.84 and a 1-year high of $263.37.

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

CDW announced that its board has initiated a share repurchase 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 repurchase up to 2.7% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

CDW Dividend Announcement

The business also recently disclosed 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 1.48%. CDW’s dividend payout ratio (DPR) is currently 31.37%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on CDW. Morgan Stanley raised their price objective on CDW from $193.00 to $201.00 and gave the company an “equal weight” rating in a report on Thursday, February 6th. Barclays raised their price target on shares of CDW from $201.00 to $223.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 6th. Finally, UBS Group dropped their price objective on shares of CDW from $233.00 to $220.00 and set a “buy” rating for the company in a research note on Tuesday, January 7th. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, CDW currently has an average rating of “Moderate Buy” and a consensus price target of $235.50.

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.