United Bank Boosts Position in CDW Co. (NASDAQ:CDW)

United Bank increased its holdings in CDW Co. (NASDAQ:CDW) by 33.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,909 shares of the information technology services provider’s stock after acquiring an additional 1,488 shares during the quarter. United Bank’s holdings in CDW were worth $1,028,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the stock. Allworth Financial LP boosted its position in CDW by 39.7% during the 4th quarter. Allworth Financial LP now owns 183 shares of the information technology services provider’s stock valued at $32,000 after acquiring an additional 52 shares in the last quarter. OFI Invest Asset Management purchased a new position in shares of CDW in the 4th quarter valued at approximately $32,000. Parkside Financial Bank & Trust boosted its position in shares of CDW by 38.9% during the fourth quarter. Parkside Financial Bank & Trust now owns 207 shares of the information technology services provider’s stock valued at $36,000 after purchasing an additional 58 shares in the last quarter. Canoe Financial LP grew its stake in CDW by 68.3% in the fourth quarter. Canoe Financial LP now owns 276 shares of the information technology services provider’s stock worth $48,000 after purchasing an additional 112 shares during the period. Finally, ORG Wealth Partners LLC bought a new position in CDW in the fourth quarter worth $69,000. 93.15% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. UBS Group reduced their target price on shares of CDW from $233.00 to $220.00 and set a “buy” rating on the stock in a research report on Tuesday, January 7th. Barclays upped their price objective on shares of CDW from $201.00 to $223.00 and gave the stock an “equal weight” rating in a report on Thursday, February 6th. Finally, Morgan Stanley lifted their target price on shares of CDW from $193.00 to $201.00 and gave the company an “equal weight” rating in a 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 MarketBeat.com, CDW presently has a consensus rating of “Moderate Buy” and an average target price of $235.50.

CDW Stock Performance

CDW stock opened at $161.51 on Friday. The stock has a market capitalization of $21.40 billion, a PE ratio of 20.26, a price-to-earnings-growth ratio of 3.21 and a beta of 1.01. The stock’s 50 day simple moving average is $182.40 and its 200 day simple moving average is $191.51. CDW Co. has a 12-month low of $160.96 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 quarterly earnings data on Wednesday, February 5th. The information technology services provider reported $2.40 EPS 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%. As a group, research analysts forecast that CDW Co. will post 9.41 earnings per share for the current fiscal year.

CDW Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 11th. Stockholders of record on Tuesday, February 25th were paid a $0.625 dividend. The ex-dividend date of this dividend was Tuesday, February 25th. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.55%. CDW’s dividend payout ratio (DPR) is currently 31.37%.

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

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.