Signaturefd LLC Purchases 72 Shares of CDW Co. (NASDAQ:CDW)

Signaturefd LLC increased its position in CDW Co. (NASDAQ:CDW) by 2.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,706 shares of the information technology services provider’s stock after purchasing an additional 72 shares during the period. Signaturefd LLC’s holdings in CDW were worth $471,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. LMR Partners LLP bought a new position in CDW during the 3rd quarter valued at about $381,000. Thompson Siegel & Walmsley LLC lifted its stake in CDW by 8.8% during the 3rd quarter. Thompson Siegel & Walmsley LLC now owns 24,712 shares of the information technology services provider’s stock valued at $5,592,000 after acquiring an additional 2,000 shares during the period. Massachusetts Financial Services Co. MA bought a new position in CDW during the 3rd quarter valued at about $416,111,000. Charles Schwab Investment Management Inc. lifted its stake in CDW by 1.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 775,240 shares of the information technology services provider’s stock valued at $175,437,000 after acquiring an additional 7,764 shares during the period. Finally, Raymond James Trust N.A. lifted its stake in CDW by 4.0% during the 3rd quarter. Raymond James Trust N.A. now owns 2,197 shares of the information technology services provider’s stock valued at $497,000 after acquiring an additional 85 shares during the period. Institutional investors own 93.15% of the company’s stock.

CDW Trading Down 2.7 %

CDW stock opened at $168.09 on Friday. The firm has a 50 day moving average of $184.75 and a 200 day moving average of $193.78. The firm has a market capitalization of $22.27 billion, a price-to-earnings ratio of 21.09, a P/E/G ratio of 3.21 and a beta of 1.01. CDW Co. has a 12-month low of $162.84 and a 12-month high of $263.37. The company has a current ratio of 1.35, a quick ratio of 1.24 and a debt-to-equity ratio of 2.38.

CDW (NASDAQ:CDW) last released its earnings results 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%. As a group, research 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 shares. This repurchase authorization allows the information technology services provider to repurchase up to 2.7% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.

CDW Dividend Announcement

The company also recently announced 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 annualized dividend and a yield of 1.49%. The ex-dividend date was Tuesday, February 25th. CDW’s dividend payout ratio is 31.37%.

Wall Street Analysts Forecast Growth

CDW has been the topic of several research analyst reports. Barclays upped their target price on shares of CDW from $201.00 to $223.00 and gave the company an “equal weight” rating in a research note on Thursday, February 6th. Morgan Stanley upped their price target on shares of CDW from $193.00 to $201.00 and gave the company an “equal weight” rating in a research report on Thursday, February 6th. Finally, 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. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, CDW has a consensus rating of “Moderate Buy” and a consensus price target 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.