Zurcher Kantonalbank Zurich Cantonalbank Grows Holdings in CDW Co. (NASDAQ:CDW)

Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of CDW Co. (NASDAQ:CDW) by 2.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 27,644 shares of the information technology services provider’s stock after acquiring an additional 611 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in CDW were worth $4,811,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the business. Assetmark Inc. grew its stake in shares of CDW by 37.3% in the 3rd quarter. Assetmark Inc. now owns 975 shares of the information technology services provider’s stock worth $221,000 after buying an additional 265 shares during the last quarter. Covestor Ltd boosted its holdings in CDW by 80.1% in the third quarter. Covestor Ltd now owns 245 shares of the information technology services provider’s stock worth $55,000 after acquiring an additional 109 shares in the last quarter. Apollon Wealth Management LLC increased its holdings in shares of CDW by 36.1% during the third quarter. Apollon Wealth Management LLC now owns 2,938 shares of the information technology services provider’s stock valued at $665,000 after acquiring an additional 779 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. raised its position in shares of CDW by 1.9% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 331,969 shares of the information technology services provider’s stock worth $75,125,000 after purchasing an additional 6,161 shares during the last quarter. Finally, Zions Bancorporation N.A. boosted its stake in CDW by 21.8% in the 3rd quarter. Zions Bancorporation N.A. now owns 4,113 shares of the information technology services provider’s stock worth $931,000 after purchasing an additional 735 shares in the last quarter. Institutional investors own 93.15% of the company’s stock.

CDW Price Performance

NASDAQ CDW opened at $167.00 on Friday. The stock has a market capitalization of $22.13 billion, a price-to-earnings ratio of 20.95, a PEG ratio of 3.21 and a beta of 1.01. CDW Co. has a 1-year low of $162.84 and a 1-year high of $263.37. The company has a debt-to-equity ratio of 2.38, a current ratio of 1.35 and a quick ratio of 1.24. The business’s fifty day moving average price is $185.71 and its 200-day moving average price is $195.73.

CDW (NASDAQ:CDW) last posted its earnings results on Wednesday, February 5th. The information technology services provider reported $2.40 earnings per share for the quarter, beating analysts’ consensus estimates of $2.33 by $0.07. CDW had a return on equity of 55.42% and a net margin of 5.13%. On average, equities analysts predict that CDW Co. will post 9.41 earnings per share for the current year.

CDW declared that its board has authorized a stock buyback program on Wednesday, February 5th that allows the company to repurchase $750.00 million in outstanding shares. This repurchase authorization allows the information technology services provider to purchase up to 2.7% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its shares are undervalued.

CDW Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 11th. Investors of record on Tuesday, February 25th were issued a $0.625 dividend. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.50%. The ex-dividend date was Tuesday, February 25th. CDW’s payout ratio is 31.37%.

Analysts Set New Price Targets

A number of research firms have weighed in on CDW. Redburn Atlantic began coverage on shares of CDW in a research note on Friday, November 15th. They set a “buy” rating and a $230.00 price objective for the company. UBS Group reduced their price target on shares of CDW from $233.00 to $220.00 and set a “buy” rating for the company in a research report on Tuesday, January 7th. Morgan Stanley upped their price objective on CDW from $193.00 to $201.00 and gave the company an “equal weight” rating in a research report on Thursday, February 6th. Finally, Barclays increased their target price on CDW from $201.00 to $223.00 and gave the company an “equal weight” rating in a research note on Thursday, February 6th. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently 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.