Modern Wealth Management LLC Raises Holdings in CDW Co. (NASDAQ:CDW)

Modern Wealth Management LLC boosted its stake in CDW Co. (NASDAQ:CDW) by 11.6% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 11,560 shares of the information technology services provider’s stock after acquiring an additional 1,197 shares during the period. Modern Wealth Management LLC’s holdings in CDW were worth $2,215,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the stock. Allworth Financial LP grew its holdings in shares of CDW by 39.7% during the fourth quarter. Allworth Financial LP now owns 183 shares of the information technology services provider’s stock worth $32,000 after buying an additional 52 shares in the last quarter. OFI Invest Asset Management purchased a new stake in CDW in the 4th quarter worth approximately $32,000. Parkside Financial Bank & Trust raised its holdings in CDW by 38.9% in the 4th quarter. Parkside Financial Bank & Trust now owns 207 shares of the information technology services provider’s stock valued at $36,000 after acquiring an additional 58 shares during the last quarter. Canoe Financial LP lifted 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 worth $48,000 after purchasing an additional 112 shares during the period. Finally, ORG Wealth Partners LLC acquired a new stake in shares of CDW during the fourth quarter worth $69,000. Institutional investors and hedge funds own 93.15% of the company’s stock.

Analyst Upgrades and Downgrades

CDW has been the topic of several recent analyst reports. UBS Group reduced their target price on CDW from $233.00 to $220.00 and set a “buy” rating on the stock in a research report 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 research report on Thursday, February 6th. Finally, Morgan Stanley upped their price target on shares of CDW from $193.00 to $201.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 6th. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $235.50.

CDW Stock Down 1.1 %

Shares of NASDAQ:CDW opened at $168.52 on Wednesday. CDW Co. has a 1 year low of $162.84 and a 1 year high of $263.37. The stock has a 50-day simple moving average of $183.82 and a 200-day simple moving average of $192.42. The company has a debt-to-equity ratio of 2.38, a quick ratio of 1.24 and a current ratio of 1.35. The stock has a market capitalization of $22.33 billion, a P/E ratio of 21.14, a PEG ratio of 3.21 and a beta of 1.01.

CDW (NASDAQ:CDW) last released its quarterly earnings data 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%. Equities analysts forecast that CDW Co. will post 9.41 earnings per share for the current year.

CDW Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 11th. Shareholders of record on Tuesday, February 25th were given a $0.625 dividend. This represents a $2.50 annualized dividend and a yield of 1.48%. The ex-dividend date was Tuesday, February 25th. CDW’s dividend payout ratio (DPR) is presently 31.37%.

CDW announced that its board has initiated a share repurchase plan on Wednesday, February 5th that authorizes the company to repurchase $750.00 million in shares. This repurchase authorization authorizes the information technology services provider to buy up to 2.7% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board believes its shares are undervalued.

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.