CDW Co. (NASDAQ:CDW) Shares Acquired by Handelsbanken Fonder AB

Handelsbanken Fonder AB grew its holdings in CDW Co. (NASDAQ:CDW) by 38.8% during the 4th quarter, Holdings Channel reports. The firm owned 24,122 shares of the information technology services provider’s stock after buying an additional 6,743 shares during the period. Handelsbanken Fonder AB’s holdings in CDW were worth $5,483,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. Capital Investment Advisors LLC lifted its stake in shares of CDW by 35.5% during the third quarter. Capital Investment Advisors LLC now owns 1,546 shares of the information technology services provider’s stock valued at $312,000 after buying an additional 405 shares during the period. Meridian Wealth Management LLC lifted its stake in shares of CDW by 3.6% during the third quarter. Meridian Wealth Management LLC now owns 1,806 shares of the information technology services provider’s stock valued at $364,000 after buying an additional 63 shares during the period. Strategic Blueprint LLC lifted its stake in shares of CDW by 3.8% during the third quarter. Strategic Blueprint LLC now owns 3,136 shares of the information technology services provider’s stock valued at $633,000 after buying an additional 115 shares during the period. CX Institutional purchased a new position in CDW during the third quarter worth approximately $2,654,000. Finally, Czech National Bank raised its stake in CDW by 46.7% during the third quarter. Czech National Bank now owns 23,429 shares of the information technology services provider’s stock worth $4,727,000 after purchasing an additional 7,463 shares during the period. 93.15% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. JPMorgan Chase & Co. increased their price target on shares of CDW from $267.00 to $280.00 and gave the stock an “overweight” rating in a research note on Thursday, April 11th. Barclays increased their price target on shares of CDW from $219.00 to $261.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 8th. Evercore ISI increased their price target on shares of CDW from $250.00 to $300.00 and gave the stock an “outperform” rating in a research note on Friday, March 22nd. Finally, Citigroup raised their target price on shares of CDW from $255.00 to $295.00 and gave the company a “buy” rating in a research note on Thursday, April 4th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, CDW has an average rating of “Moderate Buy” and an average target price of $242.67.

CDW Stock Performance

Shares of CDW stock opened at $243.42 on Friday. The company’s fifty day simple moving average is $247.22 and its 200-day simple moving average is $228.20. The company has a market cap of $32.71 billion, a PE ratio of 30.05, a P/E/G ratio of 2.72 and a beta of 1.09. CDW Co. has a 52 week low of $162.59 and a 52 week high of $263.37. The company has a current ratio of 1.23, a quick ratio of 1.11 and a debt-to-equity ratio of 2.46.

CDW (NASDAQ:CDW) last released its quarterly earnings results on Wednesday, February 7th. The information technology services provider reported $2.57 earnings per share for the quarter, beating analysts’ consensus estimates of $2.56 by $0.01. The business had revenue of $5.02 billion during the quarter, compared to analyst estimates of $5.32 billion. CDW had a net margin of 5.17% and a return on equity of 73.93%. The business’s revenue was down 7.7% on a year-over-year basis. During the same period last year, the business earned $2.40 EPS. As a group, equities research analysts anticipate that CDW Co. will post 9.89 EPS for the current year.

CDW Announces Dividend

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

CDW announced that its Board of Directors has authorized a stock buyback plan on Wednesday, February 7th that permits the company to repurchase $750.00 million in outstanding shares. This repurchase authorization permits the information technology services provider to purchase up to 2.4% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

About CDW

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.