Entropy Technologies LP Increases Position in CDW Co. (NASDAQ:CDW)

Entropy Technologies LP raised its stake in CDW Co. (NASDAQ:CDW) by 1,168.1% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 48,010 shares of the information technology services provider’s stock after buying an additional 44,224 shares during the period. CDW makes up about 0.9% of Entropy Technologies LP’s investment portfolio, making the stock its 9th largest holding. Entropy Technologies LP’s holdings in CDW were worth $8,356,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of CDW. Canoe Financial LP purchased a new position in CDW during the 3rd quarter worth approximately $37,000. Fortitude Family Office LLC grew its position in CDW by 350.0% during the 3rd quarter. Fortitude Family Office LLC now owns 171 shares of the information technology services provider’s stock worth $39,000 after purchasing an additional 133 shares in the last quarter. Ashton Thomas Securities LLC purchased a new position in CDW during the 3rd quarter worth approximately $43,000. Covestor Ltd grew its position in CDW by 80.1% during the 3rd quarter. Covestor Ltd now owns 245 shares of the information technology services provider’s stock worth $55,000 after purchasing an additional 109 shares in the last quarter. Finally, ORG Wealth Partners LLC purchased a new position in CDW during the 4th quarter worth approximately $69,000. Institutional investors own 93.15% of the company’s stock.

Wall Street Analysts Forecast Growth

CDW has been the topic of several research analyst reports. Morgan Stanley lifted their price objective on shares of CDW from $193.00 to $201.00 and gave the stock an “equal weight” rating in a research report on Thursday. UBS Group lowered their price target on shares of CDW from $233.00 to $220.00 and set a “buy” rating on the stock in a report on Tuesday, January 7th. JPMorgan Chase & Co. cut shares of CDW from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $260.00 to $235.00 in a report on Monday, October 28th. Barclays boosted their price target on shares of CDW from $201.00 to $223.00 and gave the company an “equal weight” rating in a report on Thursday. Finally, Redburn Atlantic started coverage on shares of CDW in a report on Friday, November 15th. They set a “buy” rating and a $230.00 price target on the stock. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $242.67.

CDW Stock Down 3.9 %

CDW stock opened at $192.02 on Friday. The firm has a market cap of $25.59 billion, a price-to-earnings ratio of 24.09, a P/E/G ratio of 5.40 and a beta of 1.01. The company has a debt-to-equity ratio of 2.38, a current ratio of 1.35 and a quick ratio of 1.28. CDW Co. has a fifty-two week low of $168.43 and a fifty-two week high of $263.37. The firm has a fifty day moving average price of $183.86 and a two-hundred day moving average price of $202.15.

CDW (NASDAQ:CDW) last released its earnings results on Wednesday, February 5th. The information technology services provider reported $2.40 earnings per share for the quarter, topping analysts’ consensus estimates 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, analysts forecast that CDW Co. will post 9.35 earnings per share for the current year.

CDW Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 11th. Shareholders of record on Tuesday, February 25th will be given a dividend of $0.625 per share. This represents a $2.50 dividend on an annualized basis and a yield of 1.30%. The ex-dividend date is Tuesday, February 25th. CDW’s dividend payout ratio is 31.37%.

CDW declared that its Board of Directors has approved a share buyback plan on Wednesday, February 5th that authorizes the company to buyback $750.00 million in shares. This buyback authorization authorizes the information technology services provider to reacquire up to 2.7% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its shares are undervalued.

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.