Westpac Banking Corp Has $218,000 Stock Position in CDW Co. (NASDAQ:CDW)

Westpac Banking Corp boosted its stake in shares of CDW Co. (NASDAQ:CDW) by 62.2% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,254 shares of the information technology services provider’s stock after purchasing an additional 481 shares during the period. Westpac Banking Corp’s holdings in CDW were worth $218,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the stock. Allworth Financial LP raised its holdings in shares of CDW by 39.7% in the 4th quarter. Allworth Financial LP now owns 183 shares of the information technology services provider’s stock valued at $32,000 after purchasing an additional 52 shares during the period. Summit Trail Advisors LLC lifted its stake in shares of CDW by 1.4% during 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 boosted its holdings in shares of CDW by 38.9% during the 4th quarter. Parkside Financial Bank & Trust now owns 207 shares of the information technology services provider’s stock worth $36,000 after buying an additional 58 shares during the period. Fulcrum Equity Management raised its holdings in CDW by 4.3% in 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 period. Finally, Jacobi Capital Management LLC grew its holdings in CDW by 4.5% in the 4th quarter. Jacobi Capital Management LLC now owns 1,428 shares of the information technology services provider’s stock valued at $248,000 after buying an additional 61 shares in the last quarter. 93.15% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. UBS Group decreased their price target on shares of CDW from $233.00 to $220.00 and set a “buy” rating on the stock in a research note on Tuesday, January 7th. Barclays raised their target price 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 boosted their price target on CDW from $193.00 to $201.00 and gave the company an “equal weight” rating in a research note on Thursday, February 6th. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $235.50.

CDW Stock Down 4.7 %

Shares of CDW opened at $144.49 on Friday. The firm has a 50 day simple moving average of $178.71 and a two-hundred day simple moving average of $189.54. The company has a debt-to-equity ratio of 2.38, a current ratio of 1.35 and a quick ratio of 1.24. CDW Co. has a one year low of $141.80 and a one year high of $257.33. The company has a market cap of $19.14 billion, a P/E ratio of 18.13, a P/E/G ratio of 3.21 and a beta of 1.01.

CDW (NASDAQ:CDW) last announced its quarterly earnings data on Wednesday, February 5th. The information technology services provider reported $2.40 earnings per share for the quarter, topping 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%. Research analysts forecast that CDW Co. will post 9.41 EPS for the current fiscal year.

CDW Dividend Announcement

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

CDW announced that its board has authorized a share repurchase program on Wednesday, February 5th that authorizes the company to buyback $750.00 million in outstanding shares. This buyback authorization authorizes the information technology services provider to buy up to 2.7% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s board 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.