CDW Co. (NASDAQ:CDW) Shares Acquired by Riverwater Partners LLC

Riverwater Partners LLC increased its position in shares of CDW Co. (NASDAQ:CDW) by 32.9% during the fourth quarter, Holdings Channel reports. The fund owned 1,912 shares of the information technology services provider’s stock after acquiring an additional 473 shares during the quarter. Riverwater Partners LLC’s holdings in CDW were worth $333,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CDW. Allworth Financial LP boosted its holdings in shares of CDW by 39.7% during the fourth 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. Summit Trail Advisors LLC boosted its stake in CDW by 1.4% in the 4th quarter. Summit Trail Advisors LLC now owns 4,040 shares of the information technology services provider’s stock worth $703,000 after buying an additional 56 shares during the last quarter. Parkside Financial Bank & Trust grew its holdings in CDW by 38.9% in the 4th quarter. Parkside Financial Bank & Trust now owns 207 shares of the information technology services provider’s stock valued at $36,000 after buying an additional 58 shares during the period. Fulcrum Equity Management increased its stake in shares of CDW by 4.3% during the 3rd quarter. Fulcrum Equity Management now owns 1,442 shares of the information technology services provider’s stock valued at $326,000 after acquiring an additional 60 shares during the last quarter. Finally, Jacobi Capital Management LLC lifted its holdings in shares of CDW by 4.5% during the 4th quarter. Jacobi Capital Management LLC now owns 1,428 shares of the information technology services provider’s stock worth $248,000 after acquiring an additional 61 shares during the period. 93.15% of the stock is owned by hedge funds and other institutional investors.

CDW Stock Down 4.7 %

Shares of CDW stock opened at $144.49 on Friday. The company has a fifty day moving average price of $178.71 and a 200 day moving average price of $189.54. The company has a current ratio of 1.35, a quick ratio of 1.24 and a debt-to-equity ratio of 2.38. CDW Co. has a twelve month low of $141.80 and a twelve month high of $257.33. The stock has a market cap of $19.14 billion, a price-to-earnings ratio of 18.13, a price-to-earnings-growth ratio of 3.21 and a beta of 1.01.

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, beating analysts’ consensus estimates of $2.33 by $0.07. CDW had a return on equity of 55.42% and a net margin of 5.13%. Equities research analysts forecast that CDW Co. will post 9.41 earnings per share for the current fiscal year.

CDW announced that its board has initiated a stock buyback program on Wednesday, February 5th that permits the company to buyback $750.00 million in outstanding shares. This buyback authorization permits the information technology services provider to buy up to 2.7% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its stock is undervalued.

CDW Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 11th. Stockholders of record on Tuesday, February 25th were given a dividend of $0.625 per share. The ex-dividend date was Tuesday, February 25th. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.73%. CDW’s payout ratio is currently 31.37%.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on CDW. Barclays upped their price target on shares of CDW from $201.00 to $223.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 6th. Morgan Stanley increased their target price on CDW from $193.00 to $201.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 6th. Finally, UBS Group lowered their price target on CDW from $233.00 to $220.00 and set a “buy” rating for the company in a research report on Tuesday, January 7th. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, CDW presently has an average rating of “Moderate Buy” and a consensus target price 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.