1,092 Shares in CDW Co. (NASDAQ:CDW) Acquired by RWA Wealth Partners LLC

RWA Wealth Partners LLC purchased a new position in shares of CDW Co. (NASDAQ:CDW) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 1,092 shares of the information technology services provider’s stock, valued at approximately $248,000.

Several other large investors have also made changes to their positions in CDW. The Manufacturers Life Insurance Company boosted its position in CDW by 91.8% in the third quarter. The Manufacturers Life Insurance Company now owns 728,446 shares of the information technology services provider’s stock valued at $146,971,000 after buying an additional 348,749 shares in the last quarter. Lazard Asset Management LLC boosted its position in CDW by 459.5% in the third quarter. Lazard Asset Management LLC now owns 252,272 shares of the information technology services provider’s stock valued at $50,898,000 after buying an additional 207,184 shares in the last quarter. Royal Bank of Canada lifted its holdings in shares of CDW by 54.3% during the third quarter. Royal Bank of Canada now owns 561,366 shares of the information technology services provider’s stock worth $113,261,000 after purchasing an additional 197,479 shares during the period. Assenagon Asset Management S.A. lifted its holdings in shares of CDW by 1,304.0% during the third quarter. Assenagon Asset Management S.A. now owns 209,667 shares of the information technology services provider’s stock worth $42,302,000 after purchasing an additional 194,733 shares during the period. Finally, EULAV Asset Management acquired a new position in shares of CDW during the third quarter worth $24,213,000. Institutional investors and hedge funds own 93.15% of the company’s stock.

CDW Price Performance

Shares of NASDAQ CDW opened at $242.26 on Friday. CDW Co. has a twelve month low of $162.59 and a twelve month high of $263.37. The firm has a fifty day simple moving average of $247.23 and a 200 day simple moving average of $228.31. The company has a market capitalization of $32.55 billion, a PE ratio of 29.91, a P/E/G ratio of 2.73 and a beta of 1.09. The company has a quick ratio of 1.11, a current ratio of 1.23 and a debt-to-equity ratio of 2.46.

CDW (NASDAQ:CDW) last posted its quarterly earnings results on Wednesday, February 7th. The information technology services provider reported $2.57 earnings per share for the quarter, beating the consensus estimate of $2.56 by $0.01. CDW had a net margin of 5.17% and a return on equity of 73.93%. The firm had revenue of $5.02 billion during the quarter, compared to the consensus estimate of $5.32 billion. During the same period in the previous year, the firm posted $2.40 earnings per share. The business’s revenue was down 7.7% compared to the same quarter last year. On average, sell-side analysts forecast that CDW Co. will post 9.89 EPS for the current year.

CDW announced that its board has authorized a stock repurchase plan on Wednesday, February 7th that authorizes the company to repurchase $750.00 million in shares. This repurchase authorization authorizes the information technology services provider to purchase up to 2.4% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

CDW Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 12th. Shareholders of record on Monday, February 26th were paid a $0.62 dividend. This represents a $2.48 annualized dividend and a yield of 1.02%. The ex-dividend date was Friday, February 23rd. CDW’s dividend payout ratio (DPR) is currently 30.62%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on CDW. Evercore ISI lifted their price target on shares of CDW from $250.00 to $300.00 and gave the stock an “outperform” rating in a report on Friday, March 22nd. Citigroup lifted their price target on shares of CDW from $255.00 to $295.00 and gave the stock a “buy” rating in a report on Thursday, April 4th. Barclays lifted their price target on shares of CDW from $219.00 to $261.00 and gave the stock an “equal weight” rating in a report on Thursday, February 8th. Finally, 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 report on Thursday, April 11th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, CDW presently has a consensus rating of “Moderate Buy” and a consensus price target 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.