Bay Capital Advisors LLC Invests $261,000 in CDW Co. (NASDAQ:CDW)

Bay Capital Advisors LLC bought a new position in CDW Co. (NASDAQ:CDW) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 1,500 shares of the information technology services provider’s stock, valued at approximately $261,000.

A number of other institutional investors have also added to or reduced their stakes in CDW. Oddo BHF Asset Management Sas purchased a new position in shares of CDW during the third quarter worth approximately $1,629,000. Assenagon Asset Management S.A. lifted its stake in CDW by 7,549.9% in the fourth quarter. Assenagon Asset Management S.A. now owns 256,271 shares of the information technology services provider’s stock worth $44,601,000 after purchasing an additional 252,921 shares during the last quarter. Franklin Resources Inc. grew its stake in shares of CDW by 3.4% during the third quarter. Franklin Resources Inc. now owns 108,009 shares of the information technology services provider’s stock valued at $24,138,000 after buying an additional 3,567 shares during the last quarter. Madison Investment Advisors LLC purchased a new position in shares of CDW in the fourth quarter worth about $130,996,000. Finally, Graphene Investments SAS boosted its holdings in CDW by 17.6% during the 4th quarter. Graphene Investments SAS now owns 17,400 shares of the information technology services provider’s stock valued at $3,028,000 after acquiring an additional 2,600 shares during the period. Institutional investors own 93.15% of the company’s stock.

CDW Stock Performance

Shares of CDW opened at $170.31 on Tuesday. The company has a 50-day simple moving average of $184.19 and a two-hundred day simple moving average of $192.73. 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 firm has a market capitalization of $22.56 billion, a PE ratio of 21.37, a price-to-earnings-growth ratio of 3.21 and a beta of 1.01. CDW Co. has a one year low of $162.84 and a one year high of $263.37.

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

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

CDW Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 11th. Stockholders of record on Tuesday, February 25th were given a $0.625 dividend. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.47%. The ex-dividend date of this dividend was Tuesday, February 25th. CDW’s dividend payout ratio is presently 31.37%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on CDW shares. UBS Group decreased their price target on CDW from $233.00 to $220.00 and set a “buy” rating on the stock in a research note on Tuesday, January 7th. Barclays lifted their target price on shares of CDW from $201.00 to $223.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 6th. Finally, Morgan Stanley increased 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. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock 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.