Congress Wealth Management LLC DE Acquires 385 Shares of CDW Co. (NASDAQ:CDW)

Congress Wealth Management LLC DE raised its holdings in shares of CDW Co. (NASDAQ:CDW) by 2.6% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 15,378 shares of the information technology services provider’s stock after acquiring an additional 385 shares during the period. Congress Wealth Management LLC DE’s holdings in CDW were worth $2,676,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the stock. Vanguard Group Inc. increased its stake in shares of CDW by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 16,673,784 shares of the information technology services provider’s stock valued at $2,901,905,000 after acquiring an additional 99,947 shares during the last quarter. Stevens Capital Management LP acquired a new position in CDW during the fourth quarter valued at approximately $871,000. LPL Financial LLC increased its stake in CDW by 6.3% in the fourth quarter. LPL Financial LLC now owns 42,132 shares of the information technology services provider’s stock valued at $7,333,000 after purchasing an additional 2,503 shares in the last quarter. KLP Kapitalforvaltning AS acquired a new stake in CDW in the fourth quarter worth $7,936,000. Finally, Mizuho Securities USA LLC boosted its position in shares of CDW by 45.8% during the fourth quarter. Mizuho Securities USA LLC now owns 12,630 shares of the information technology services provider’s stock worth $2,198,000 after purchasing an additional 3,968 shares in the last quarter. Institutional investors and hedge funds own 93.15% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on CDW. Barclays upped their price objective on shares of CDW from $201.00 to $223.00 and gave the company an “equal weight” rating in a research report on Thursday, February 6th. Morgan Stanley raised their price target on CDW from $193.00 to $201.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 6th. Finally, UBS Group decreased their price objective on CDW from $233.00 to $220.00 and set a “buy” rating for the company in a research report on Tuesday, January 7th. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, CDW presently has an average rating of “Moderate Buy” and an average price target of $235.50.

CDW Stock Down 0.7 %

Shares of CDW stock opened at $167.33 on Thursday. The firm has a market cap of $22.17 billion, a PE ratio of 20.99, a P/E/G ratio of 3.21 and a beta of 1.01. The business’s 50 day simple moving average is $183.42 and its 200 day simple moving average is $192.25. The company has a debt-to-equity ratio of 2.38, a quick ratio of 1.24 and a current ratio of 1.35. CDW Co. has a 52-week low of $162.84 and a 52-week high of $263.37.

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

CDW announced that its board has initiated a share repurchase plan on Wednesday, February 5th that authorizes the company to repurchase $750.00 million in outstanding shares. This repurchase authorization authorizes the information technology services provider to buy up to 2.7% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its shares are undervalued.

CDW Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 11th. Shareholders of record on Tuesday, February 25th were given a dividend of $0.625 per share. The ex-dividend date was Tuesday, February 25th. This represents a $2.50 annualized dividend and a yield of 1.49%. CDW’s dividend payout ratio (DPR) is presently 31.37%.

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.