ORG Partners LLC Acquires Shares of 157 CDW Co. (NASDAQ:CDW)

ORG Partners LLC purchased a new stake in shares of CDW Co. (NASDAQ:CDW) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 157 shares of the information technology services provider’s stock, valued at approximately $36,000.

Several other hedge funds have also added to or reduced their stakes in the company. Raymond James Financial Services Advisors Inc. grew its position 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 valued at $11,141,000 after purchasing an additional 6,799 shares during the period. Pacer Advisors Inc. raised its holdings in shares of CDW by 84.9% during the fourth quarter. Pacer Advisors Inc. now owns 15,924 shares of the information technology services provider’s stock worth $3,620,000 after acquiring an additional 7,310 shares during the period. JGP Wealth Management LLC bought a new stake in CDW in the 4th quarter valued at $1,559,000. California Public Employees Retirement System boosted its stake in 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 during the period. Finally, Amalgamated Bank increased its holdings in CDW by 22.0% during the 3rd quarter. Amalgamated Bank now owns 44,774 shares of the information technology services provider’s stock worth $9,034,000 after purchasing an additional 8,063 shares in the last quarter. Institutional investors own 93.15% of the company’s stock.

CDW Stock Performance

NASDAQ CDW opened at $240.01 on Wednesday. The firm’s fifty day moving average price is $247.59 and its two-hundred day moving average price is $226.92. CDW Co. has a 1 year low of $160.66 and a 1 year high of $263.37. The firm has a market capitalization of $32.25 billion, a P/E ratio of 29.63, a price-to-earnings-growth ratio of 2.75 and a beta of 1.09. 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 issued its earnings results on Wednesday, February 7th. The information technology services provider reported $2.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.56 by $0.01. The business had revenue of $5.02 billion during the quarter, compared to the consensus estimate of $5.32 billion. CDW had a net margin of 5.17% and a return on equity of 73.93%. CDW’s revenue was down 7.7% on a year-over-year basis. During the same period last year, the business posted $2.40 EPS. As a group, research analysts anticipate that CDW Co. will post 9.88 EPS for the current year.

CDW Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 12th. Investors of record on Monday, February 26th were issued a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a dividend yield of 1.03%. The ex-dividend date of this dividend was Friday, February 23rd. CDW’s payout ratio is presently 30.62%.

CDW declared that its Board of Directors has authorized a stock buyback plan on Wednesday, February 7th that authorizes the company to repurchase $750.00 million in outstanding 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 usually a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

CDW has been the topic of a number of research reports. Citigroup boosted their price target on CDW from $255.00 to $295.00 and gave the company a “buy” rating in a report on Thursday, April 4th. Evercore ISI boosted their target price on CDW from $250.00 to $300.00 and gave the company an “outperform” rating in a research note on Friday, March 22nd. JPMorgan Chase & Co. raised 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. Finally, Barclays lifted their price objective on shares of CDW from $219.00 to $261.00 and gave the company an “equal weight” rating in a report on Thursday, February 8th. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $238.90.

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.