GAMMA Investing LLC Acquires Shares of 1,472 CDW Co. (NASDAQ:CDW)

GAMMA Investing LLC acquired a new stake in shares of CDW Co. (NASDAQ:CDW) in the 4th quarter, according to its most recent 13F filing with the SEC. The fund acquired 1,472 shares of the information technology services provider’s stock, valued at approximately $334,000.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Scotia Capital Inc. lifted its stake in CDW by 1.5% during the 3rd quarter. Scotia Capital Inc. now owns 3,495 shares of the information technology services provider’s stock valued at $705,000 after acquiring an additional 50 shares during the period. Diversified Trust Co grew its holdings in shares of CDW by 4.6% during the fourth quarter. Diversified Trust Co now owns 1,157 shares of the information technology services provider’s stock worth $263,000 after buying an additional 51 shares in the last quarter. Phoenix Holdings Ltd. grew its holdings in shares of CDW by 4.3% during the third quarter. Phoenix Holdings Ltd. now owns 1,262 shares of the information technology services provider’s stock worth $257,000 after buying an additional 52 shares in the last quarter. Fidelis Capital Partners LLC grew its holdings in shares of CDW by 4.5% during the fourth quarter. Fidelis Capital Partners LLC now owns 1,229 shares of the information technology services provider’s stock worth $279,000 after buying an additional 53 shares in the last quarter. Finally, Ballentine Partners LLC grew its holdings in shares of CDW by 1.1% during the third quarter. Ballentine Partners LLC now owns 4,911 shares of the information technology services provider’s stock worth $991,000 after buying an additional 54 shares in the last quarter. 93.15% of the stock is currently owned by institutional investors and hedge funds.

CDW Stock Performance

Shares of CDW stock opened at $240.69 on Thursday. The firm has a market capitalization of $32.34 billion, a P/E ratio of 29.71, a P/E/G ratio of 2.72 and a beta of 1.09. CDW Co. has a 52 week low of $162.59 and a 52 week high of $263.37. The company has a quick ratio of 1.11, a current ratio of 1.23 and a debt-to-equity ratio of 2.46. The firm’s 50 day moving average is $247.19 and its two-hundred day moving average is $228.12.

CDW (NASDAQ:CDW) last announced its quarterly earnings results on Wednesday, February 7th. The information technology services provider reported $2.57 EPS for the quarter, beating the consensus estimate of $2.56 by $0.01. The company had revenue of $5.02 billion for the quarter, compared to analyst estimates of $5.32 billion. CDW had a net margin of 5.17% and a return on equity of 73.93%. The firm’s revenue was down 7.7% on a year-over-year basis. During the same period in the prior year, the firm posted $2.40 earnings per share. Research analysts forecast that CDW Co. will post 9.89 EPS for the current fiscal year.

CDW Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 12th. Shareholders of record on Monday, February 26th were paid a $0.62 dividend. The ex-dividend date of this dividend was Friday, February 23rd. This represents a $2.48 annualized dividend and a yield of 1.03%. CDW’s dividend payout ratio is currently 30.62%.

CDW declared that its Board of Directors has initiated a share repurchase program on Wednesday, February 7th that allows the company to buyback $750.00 million in outstanding shares. This buyback authorization allows the information technology services provider to purchase up to 2.4% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its stock is undervalued.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Citigroup upped their target price on shares of CDW from $255.00 to $295.00 and gave the stock a “buy” rating in a report on Thursday, April 4th. Evercore ISI upped their target price on shares of CDW from $250.00 to $300.00 and gave the stock an “outperform” rating in a report on Friday, March 22nd. Barclays upped their price objective on shares of CDW from $219.00 to $261.00 and gave the company an “equal weight” rating in a report on Thursday, February 8th. Finally, JPMorgan Chase & Co. upped their price objective on shares of CDW from $267.00 to $280.00 and gave the company an “overweight” rating in a report on Thursday, April 11th. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, CDW has an average rating of “Moderate Buy” and a consensus target price of $242.67.

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.