Versor Investments LP Buys New Position in CDW Co. (NASDAQ:CDW)

Versor Investments LP bought a new stake in CDW Co. (NASDAQ:CDW) in the 4th quarter, Holdings Channel reports. The institutional investor bought 6,400 shares of the information technology services provider’s stock, valued at approximately $1,114,000.

A number of other institutional investors and hedge funds also recently modified their holdings of CDW. Allworth Financial LP increased its stake in shares of 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 acquiring an additional 52 shares during the last quarter. Ashton Thomas Securities LLC acquired a new position in shares of CDW during the 3rd quarter valued at about $43,000. Canoe Financial LP increased its stake in shares of 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 acquiring an additional 112 shares during the last quarter. Covestor Ltd increased its stake in shares of 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 acquiring an additional 109 shares during the last quarter. Finally, ORG Wealth Partners LLC acquired a new position in shares of CDW during the 4th quarter valued at about $69,000. Institutional investors and hedge funds own 93.15% of the company’s stock.

CDW Stock Performance

CDW stock opened at $179.00 on Friday. The stock has a market cap of $23.72 billion, a P/E ratio of 22.46, a price-to-earnings-growth ratio of 3.21 and a beta of 1.01. The company has a current ratio of 1.35, a quick ratio of 1.24 and a debt-to-equity ratio of 2.38. The stock has a 50 day moving average of $186.73 and a 200-day moving average of $199.29. CDW Co. has a 52 week low of $168.43 and a 52 week high of $263.37.

CDW (NASDAQ:CDW) last posted its quarterly earnings results on Wednesday, February 5th. The information technology services provider reported $2.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.33 by $0.07. CDW had a return on equity of 55.42% and a net margin of 5.13%. On average, analysts expect that CDW Co. will post 9.41 EPS for the current fiscal year.

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

CDW Announces Dividend

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

Analyst Upgrades and Downgrades

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

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.