SRS Capital Advisors Inc. Boosts Holdings in CDW Co. (NASDAQ:CDW)

SRS Capital Advisors Inc. increased its position in shares of CDW Co. (NASDAQ:CDW) by 39.9% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,104 shares of the information technology services provider’s stock after buying an additional 315 shares during the quarter. SRS Capital Advisors Inc.’s holdings in CDW were worth $251,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Northern Trust Corp raised its stake in shares of CDW by 1.6% in the 3rd quarter. Northern Trust Corp now owns 1,331,127 shares of the information technology services provider’s stock valued at $268,568,000 after acquiring an additional 20,345 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its stake in CDW by 3.3% during the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 1,315,983 shares of the information technology services provider’s stock worth $265,513,000 after purchasing an additional 41,472 shares in the last quarter. Barclays PLC lifted its stake in CDW by 2.1% during the third quarter. Barclays PLC now owns 1,016,132 shares of the information technology services provider’s stock worth $205,014,000 after purchasing an additional 20,934 shares in the last quarter. American Century Companies Inc. boosted its holdings in CDW by 2.5% during the 3rd quarter. American Century Companies Inc. now owns 832,548 shares of the information technology services provider’s stock valued at $167,975,000 after acquiring an additional 20,152 shares during the period. Finally, California Public Employees Retirement System grew its position in CDW by 0.4% in the 4th quarter. California Public Employees Retirement System now owns 822,093 shares of the information technology services provider’s stock valued at $186,878,000 after acquiring an additional 3,082 shares in the last quarter. 93.15% of the stock is currently owned by institutional investors and hedge funds.

CDW Stock Up 0.5 %

CDW stock traded up $1.15 during midday trading on Friday, reaching $219.56. 805,670 shares of the company were exchanged, compared to its average volume of 768,724. The stock’s 50-day simple moving average is $245.67 and its 200 day simple moving average is $229.16. CDW Co. has a 1-year low of $162.59 and a 1-year high of $263.37. The company has a debt-to-equity ratio of 2.35, a quick ratio of 1.11 and a current ratio of 1.26. The company has a market cap of $29.51 billion, a price-to-earnings ratio of 27.41, a price-to-earnings-growth ratio of 2.47 and a beta of 1.09.

CDW (NASDAQ:CDW) last announced its quarterly earnings results on Wednesday, February 7th. The information technology services provider reported $2.57 earnings per share for the quarter, beating analysts’ consensus estimates of $2.56 by $0.01. The firm had revenue of $5.02 billion during the quarter, compared to analysts’ expectations of $5.32 billion. CDW had a net margin of 5.16% and a return on equity of 67.56%. CDW’s quarterly revenue was down 7.7% compared to the same quarter last year. During the same period in the previous year, the company earned $2.40 earnings per share. On average, equities analysts forecast that CDW Co. will post 9.89 earnings per share for the current year.

CDW announced that its Board of Directors has authorized a share buyback program on Wednesday, February 7th that allows the company to buyback $750.00 million in shares. This buyback authorization allows the information technology services provider to reacquire up to 2.4% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.

CDW Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 11th. Investors of record on Friday, May 24th will be paid a dividend of $0.62 per share. The ex-dividend date is Thursday, May 23rd. This represents a $2.48 dividend on an annualized basis and a yield of 1.13%. CDW’s dividend payout ratio is presently 30.96%.

Analysts Set New Price Targets

Several research analysts have recently commented on the stock. JPMorgan Chase & Co. lowered their price objective on shares of CDW from $280.00 to $265.00 and set an “overweight” rating for the company in a research note on Thursday. Barclays dropped their price target 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. Evercore ISI increased their price objective on CDW from $250.00 to $300.00 and gave the company an “outperform” rating in a research note on Friday, March 22nd. Citigroup decreased their target price on CDW from $295.00 to $260.00 and set a “buy” rating for the company in a report on Thursday. Finally, Stifel Nicolaus reduced their price target on CDW from $265.00 to $250.00 and set a “buy” rating on the stock in a research report on Thursday. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $235.50.

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.