CDW Co. (NASDAQ:CDW) Holdings Increased by Carnegie Capital Asset Management LLC

Carnegie Capital Asset Management LLC grew its stake in shares of CDW Co. (NASDAQ:CDW) by 2.6% during the fourth quarter, Holdings Channel reports. The institutional investor owned 5,095 shares of the information technology services provider’s stock after acquiring an additional 130 shares during the period. Carnegie Capital Asset Management LLC’s holdings in CDW were worth $1,158,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Raymond James Financial Services Advisors Inc. raised its holdings in shares of CDW by 16.1% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 49,011 shares of the information technology services provider’s stock worth $11,141,000 after purchasing an additional 6,799 shares in the last quarter. Pacer Advisors Inc. raised its holdings in shares of CDW by 84.9% in the 4th quarter. Pacer Advisors Inc. now owns 15,924 shares of the information technology services provider’s stock worth $3,620,000 after purchasing an additional 7,310 shares in the last quarter. JGP Wealth Management LLC bought a new stake in shares of CDW in the 4th quarter worth approximately $1,559,000. California Public Employees Retirement System raised its holdings in shares of CDW by 1.0% in the 3rd quarter. California Public Employees Retirement System now owns 819,011 shares of the information technology services provider’s stock worth $165,244,000 after purchasing an additional 7,854 shares in the last quarter. Finally, Amalgamated Bank increased its position in shares of CDW by 22.0% in the third quarter. Amalgamated Bank now owns 44,774 shares of the information technology services provider’s stock worth $9,034,000 after acquiring an additional 8,063 shares in the last quarter. 93.15% of the stock is currently owned by institutional investors.

CDW Stock Performance

Shares of CDW opened at $240.01 on Wednesday. The company’s 50 day moving average price is $247.59 and its 200 day moving average price is $226.92. CDW Co. has a 52 week low of $160.66 and a 52 week high of $263.37. The company has a market capitalization of $32.25 billion, a PE ratio of 29.63, a PEG ratio of 2.75 and a beta of 1.09. The company has a debt-to-equity ratio of 2.46, a quick ratio of 1.11 and a current ratio of 1.23.

CDW (NASDAQ:CDW) last posted its earnings results on Wednesday, February 7th. The information technology services provider reported $2.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.56 by $0.01. The firm had revenue of $5.02 billion during the quarter, compared to analysts’ expectations of $5.32 billion. CDW had a net margin of 5.17% and a return on equity of 73.93%. The company’s revenue was down 7.7% compared to the same quarter last year. During the same period in the previous year, the company earned $2.40 earnings per share. Research analysts expect that CDW Co. will post 9.88 EPS for the current fiscal year.

CDW announced that its Board of Directors has authorized a share buyback program on Wednesday, February 7th that permits the company to repurchase $750.00 million in shares. This repurchase authorization permits the information technology services provider to repurchase up to 2.4% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its shares are undervalued.

CDW Dividend Announcement

The firm also recently announced 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 dividend on an annualized basis and a yield of 1.03%. The ex-dividend date was Friday, February 23rd. CDW’s dividend payout ratio (DPR) is presently 30.62%.

Analyst Ratings Changes

CDW has been the topic of several analyst reports. JPMorgan Chase & Co. lifted their target price on shares of CDW from $267.00 to $280.00 and gave the stock an “overweight” rating in a research report on Thursday, April 11th. Evercore ISI lifted their target price on shares of CDW from $250.00 to $300.00 and gave the stock an “outperform” rating in a research report on Friday, March 22nd. Citigroup lifted their target price on shares of CDW from $255.00 to $295.00 and gave the stock a “buy” rating in a research report on Thursday, April 4th. Finally, Barclays lifted their target price on shares of CDW from $219.00 to $261.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 8th. Four investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $238.90.

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.