Proficio Capital Partners LLC Increases Stake in CDW Co. (NASDAQ:CDW)

Proficio Capital Partners LLC increased its holdings in CDW Co. (NASDAQ:CDW) by 18,259.3% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 687,189 shares of the information technology services provider’s stock after purchasing an additional 683,446 shares during the period. Proficio Capital Partners LLC’s holdings in CDW were worth $119,598,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in CDW. Allworth Financial LP raised its holdings in CDW by 39.7% during the 4th quarter. Allworth Financial LP now owns 183 shares of the information technology services provider’s stock valued at $32,000 after buying an additional 52 shares during the last quarter. Ashton Thomas Securities LLC bought a new stake in CDW during the 3rd quarter valued at $43,000. Canoe Financial LP raised its holdings in CDW by 68.3% during the 4th quarter. Canoe Financial LP now owns 276 shares of the information technology services provider’s stock valued at $48,000 after buying an additional 112 shares during the last quarter. Covestor Ltd raised its holdings in CDW by 80.1% during the 3rd quarter. Covestor Ltd now owns 245 shares of the information technology services provider’s stock valued at $55,000 after buying an additional 109 shares during the last quarter. Finally, ORG Wealth Partners LLC bought a new stake in CDW during the 4th quarter valued at $69,000. Hedge funds and other institutional investors own 93.15% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on CDW. UBS Group lowered their price target on shares of CDW from $233.00 to $220.00 and set a “buy” rating for the company in a report on Tuesday, January 7th. Redburn Atlantic started coverage on shares of CDW in a report on Friday, November 15th. They issued a “buy” rating and a $230.00 price objective for the company. Barclays upped their price objective on shares of CDW from $201.00 to $223.00 and gave the stock an “equal weight” rating in a report on Thursday, February 6th. Finally, Morgan Stanley upped their price objective on shares of CDW from $193.00 to $201.00 and gave the stock an “equal weight” rating in a report on Thursday, February 6th. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $242.67.

CDW Stock Down 0.7 %

Shares of CDW stock opened at $179.00 on Friday. The company has a debt-to-equity ratio of 2.38, a current ratio of 1.35 and a quick ratio of 1.24. The company has a 50-day moving average of $186.73 and a 200 day moving average of $199.29. The firm has a market cap of $23.72 billion, a price-to-earnings ratio of 22.46, a PEG ratio of 3.21 and a beta of 1.01. CDW Co. has a 1 year low of $168.43 and a 1 year high of $263.37.

CDW (NASDAQ:CDW) last issued its quarterly 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 net margin of 5.13% and a return on equity of 55.42%. As a group, sell-side analysts anticipate that CDW Co. will post 9.41 earnings per share for the current fiscal year.

CDW announced that its Board of Directors has approved a stock buyback plan 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 purchase up to 2.7% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s board believes its stock is undervalued.

CDW Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 11th. Investors of record on Tuesday, February 25th will be paid a $0.625 dividend. The ex-dividend date of this dividend is Tuesday, February 25th. This represents a $2.50 annualized dividend and a dividend yield of 1.40%. CDW’s payout ratio is 31.37%.

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.