Cynosure Group LLC Buys 757 Shares of CDW Co. (NASDAQ:CDW)

Cynosure Group LLC boosted its stake in CDW Co. (NASDAQ:CDW) by 6.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 12,221 shares of the information technology services provider’s stock after purchasing an additional 757 shares during the period. Cynosure Group LLC’s holdings in CDW were worth $2,127,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Janus Henderson Group PLC increased its stake in shares of CDW by 7,029.1% in the third quarter. Janus Henderson Group PLC now owns 1,466,597 shares of the information technology services provider’s stock worth $331,891,000 after buying an additional 1,446,025 shares during the period. Norges Bank purchased a new position in shares of CDW in the fourth quarter valued at about $144,826,000. Madison Investment Advisors LLC bought a new position in shares of CDW during the fourth quarter valued at about $130,996,000. Proficio Capital Partners LLC boosted its holdings in shares of CDW by 18,259.3% during the fourth quarter. Proficio Capital Partners LLC now owns 687,189 shares of the information technology services provider’s stock worth $119,598,000 after purchasing an additional 683,446 shares during the period. Finally, Massachusetts Financial Services Co. MA grew its stake in shares of CDW by 31.3% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,414,093 shares of the information technology services provider’s stock worth $420,149,000 after purchasing an additional 575,333 shares during the last quarter. Institutional investors own 93.15% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on CDW. Barclays increased their price objective on CDW from $201.00 to $223.00 and gave the stock an “equal weight” rating in a report on Thursday, February 6th. UBS Group dropped their price target on CDW from $233.00 to $220.00 and set a “buy” rating for the company in a research note on Tuesday, January 7th. Finally, Morgan Stanley boosted their price objective 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 investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $235.50.

CDW Trading Up 1.1 %

NASDAQ:CDW opened at $162.08 on Wednesday. CDW Co. has a one year low of $158.76 and a one year high of $263.37. The firm has a market capitalization of $21.47 billion, a P/E ratio of 20.34, a PEG ratio of 3.21 and a beta of 1.01. The company’s 50-day simple moving average is $181.24 and its 200 day simple moving average is $190.52. The company has a debt-to-equity ratio of 2.38, a current ratio of 1.35 and a quick ratio of 1.24.

CDW (NASDAQ:CDW) last announced its quarterly earnings results 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 return on equity of 55.42% and a net margin of 5.13%. As a group, analysts forecast that CDW Co. will post 9.41 EPS for the current fiscal year.

CDW Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 11th. Stockholders of record on Tuesday, February 25th were issued a dividend of $0.625 per share. The ex-dividend date of this dividend was Tuesday, February 25th. This represents a $2.50 annualized dividend and a dividend yield of 1.54%. CDW’s payout ratio is 31.37%.

CDW declared that its board has initiated a share buyback 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 purchase up to 2.7% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board of directors believes its stock is undervalued.

CDW 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.