Advisor OS LLC Acquires 2,196 Shares of CDW Co. (NASDAQ:CDW)

Advisor OS LLC boosted its holdings in CDW Co. (NASDAQ:CDW) by 151.1% during the 4th quarter, Holdings Channel.com reports. The fund owned 3,649 shares of the information technology services provider’s stock after purchasing an additional 2,196 shares during the quarter. Advisor OS LLC’s holdings in CDW were worth $635,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Private Advisor Group LLC raised its stake in shares of CDW by 10.7% in the third quarter. Private Advisor Group LLC now owns 3,708 shares of the information technology services provider’s stock worth $839,000 after purchasing an additional 359 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in CDW by 7.3% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 6,667 shares of the information technology services provider’s stock worth $1,509,000 after buying an additional 451 shares in the last quarter. abrdn plc raised its position in CDW by 31.4% in the 3rd quarter. abrdn plc now owns 54,725 shares of the information technology services provider’s stock valued at $12,409,000 after buying an additional 13,079 shares during the last quarter. China Universal Asset Management Co. Ltd. lifted its stake in CDW by 109.7% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 1,694 shares of the information technology services provider’s stock valued at $383,000 after acquiring an additional 886 shares in the last quarter. Finally, Fortitude Family Office LLC boosted its holdings in CDW by 350.0% during the 3rd quarter. Fortitude Family Office LLC now owns 171 shares of the information technology services provider’s stock worth $39,000 after acquiring an additional 133 shares during the last quarter. Institutional investors and hedge funds own 93.15% of the company’s stock.

CDW Stock Performance

NASDAQ CDW opened at $180.23 on Thursday. The firm has a market cap of $24.02 billion, a P/E ratio of 22.61, a price-to-earnings-growth ratio of 3.21 and a beta of 1.01. 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 company’s 50 day moving average is $186.62 and its 200-day moving average is $199.43. CDW Co. has a 12-month low of $168.43 and a 12-month high of $263.37.

CDW (NASDAQ:CDW) last posted its earnings results on Wednesday, February 5th. The information technology services provider reported $2.40 earnings per share (EPS) 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%. Sell-side analysts predict that CDW Co. will post 9.41 earnings per share for the current year.

CDW Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 11th. Shareholders of record on Tuesday, February 25th will be paid a $0.625 dividend. The ex-dividend date is Tuesday, February 25th. This represents a $2.50 annualized dividend and a yield of 1.39%. CDW’s dividend payout ratio is currently 31.37%.

CDW announced that its Board of Directors has initiated a share buyback plan 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 reacquire up to 2.7% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.

Wall Street Analyst Weigh In

CDW has been the subject of several analyst reports. Morgan Stanley increased their target price on shares of CDW from $193.00 to $201.00 and gave the company an “equal weight” rating in a report on Thursday, February 6th. UBS Group decreased 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. Barclays boosted their target price on CDW from $201.00 to $223.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 6th. Finally, Redburn Atlantic started coverage on CDW in a research report on Friday, November 15th. They set a “buy” rating and a $230.00 price target for the company. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, CDW has an average rating of “Moderate Buy” and an average 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.