CDW Co. (NASDAQ:CDW) Shares Acquired by EverSource Wealth Advisors LLC

EverSource Wealth Advisors LLC lifted its stake in shares of CDW Co. (NASDAQ:CDW) by 5.0% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 1,144 shares of the information technology services provider’s stock after purchasing an additional 54 shares during the quarter. EverSource Wealth Advisors LLC’s holdings in CDW were worth $260,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Raymond James Financial Services Advisors Inc. lifted its stake in shares of CDW by 16.1% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 49,011 shares of the information technology services provider’s stock worth $11,141,000 after buying an additional 6,799 shares during the period. Cerity Partners LLC increased its holdings in CDW by 44.9% in the fourth quarter. Cerity Partners LLC now owns 14,553 shares of the information technology services provider’s stock valued at $3,308,000 after buying an additional 4,511 shares in the last quarter. Pacer Advisors Inc. increased its holdings in CDW by 84.9% in the fourth quarter. Pacer Advisors Inc. now owns 15,924 shares of the information technology services provider’s stock valued at $3,620,000 after buying an additional 7,310 shares in the last quarter. JGP Wealth Management LLC purchased a new position in CDW in the fourth quarter valued at $1,559,000. Finally, abrdn plc increased its holdings in CDW by 34.4% in the fourth quarter. abrdn plc now owns 65,058 shares of the information technology services provider’s stock valued at $14,789,000 after buying an additional 16,648 shares in the last quarter. 93.15% of the stock is currently owned by institutional investors and hedge funds.

CDW Trading Up 0.5 %

NASDAQ:CDW traded up $1.12 on Friday, reaching $232.69. 45,094 shares of the company’s stock were exchanged, compared to its average volume of 726,080. The company has a quick ratio of 1.13, a current ratio of 1.26 and a debt-to-equity ratio of 2.35. The firm has a market capitalization of $31.27 billion, a price-to-earnings ratio of 28.91, a price-to-earnings-growth ratio of 3.48 and a beta of 1.09. The business has a fifty day moving average of $239.52 and a 200-day moving average of $231.41. CDW Co. has a 52-week low of $167.73 and a 52-week high of $263.37.

CDW (NASDAQ:CDW) last issued its quarterly earnings results on Wednesday, May 1st. The information technology services provider reported $1.89 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.04 by ($0.15). The business had revenue of $4.87 billion for the quarter, compared to analysts’ expectations of $4.94 billion. CDW had a return on equity of 67.56% and a net margin of 5.16%. As a group, analysts expect that CDW Co. will post 9.67 earnings per share for the current year.

CDW Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 11th. Stockholders of record on Friday, May 24th will be issued a $0.62 dividend. The ex-dividend date is Thursday, May 23rd. This represents a $2.48 dividend on an annualized basis and a dividend yield of 1.07%. CDW’s payout ratio is 30.96%.

CDW declared that its Board of Directors has initiated a share buyback plan on Wednesday, February 7th that allows the company to repurchase $750.00 million in shares. This repurchase authorization allows the information technology services provider to repurchase up to 2.4% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s leadership believes its stock is undervalued.

Analysts Set New Price Targets

A number of research firms have recently commented on CDW. Citigroup cut their target price on shares of CDW from $295.00 to $260.00 and set a “buy” rating for the company in a research note on Thursday, May 2nd. Evercore ISI boosted their target price on shares of CDW from $250.00 to $300.00 and gave the stock an “outperform” rating in a research note on Friday, March 22nd. Stifel Nicolaus cut their target price on shares of CDW from $265.00 to $250.00 and set a “buy” rating for the company in a research note on Thursday, May 2nd. Barclays cut their target price on shares of CDW from $261.00 to $232.00 and set an “equal weight” rating for the company in a research note on Thursday, May 2nd. Finally, JPMorgan Chase & Co. reduced their price objective on shares of CDW from $280.00 to $265.00 and set an “overweight” rating on the stock in a report on Thursday, May 2nd. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $247.50.

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.