Oakworth Capital Inc. Makes New Investment in CDW Co. (NASDAQ:CDW)

Oakworth Capital Inc. purchased a new stake in CDW Co. (NASDAQ:CDW) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 160 shares of the information technology services provider’s stock, valued at approximately $36,000.

Several other institutional investors have also recently bought and sold shares of the stock. Morgan Stanley lifted its stake in shares of CDW by 130.7% in the 4th quarter. Morgan Stanley now owns 2,442,301 shares of the information technology services provider’s stock valued at $436,146,000 after purchasing an additional 1,383,869 shares during the period. Norges Bank acquired a new stake in shares of CDW in the 4th quarter valued at approximately $66,992,000. The Manufacturers Life Insurance Company boosted its stake in CDW by 91.8% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 728,446 shares of the information technology services provider’s stock worth $146,971,000 after acquiring an additional 348,749 shares during the last quarter. Westfield Capital Management Co. LP acquired a new position in CDW during the first quarter valued at approximately $63,265,000. Finally, Lazard Asset Management LLC increased its stake in CDW by 459.5% in the third quarter. Lazard Asset Management LLC now owns 252,272 shares of the information technology services provider’s stock valued at $50,898,000 after purchasing an additional 207,184 shares in the last quarter. Institutional investors own 93.15% of the company’s stock.

CDW Stock Performance

NASDAQ CDW opened at $235.70 on Friday. The firm’s fifty day moving average price is $247.41 and its two-hundred day moving average price is $227.05. CDW Co. has a 1 year low of $160.66 and a 1 year high of $263.37. The firm has a market capitalization of $31.67 billion, a P/E ratio of 29.10, a price-to-earnings-growth ratio of 2.68 and a beta of 1.09. The company has a current ratio of 1.23, a quick ratio of 1.11 and a debt-to-equity ratio of 2.46.

CDW (NASDAQ:CDW) last released its quarterly earnings data on Wednesday, February 7th. The information technology services provider reported $2.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.56 by $0.01. CDW had a return on equity of 73.93% and a net margin of 5.17%. The firm had revenue of $5.02 billion for the quarter, compared to analyst estimates of $5.32 billion. During the same quarter in the prior year, the company earned $2.40 earnings per share. The business’s revenue for the quarter was down 7.7% compared to the same quarter last year. As a group, research analysts anticipate that CDW Co. will post 9.89 EPS for the current year.

CDW Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 12th. Stockholders of record on Monday, February 26th were paid a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a dividend yield of 1.05%. The ex-dividend date was Friday, February 23rd. CDW’s dividend payout ratio is presently 30.62%.

CDW declared that its board has approved a stock buyback plan on Wednesday, February 7th that allows the company to repurchase $750.00 million in outstanding shares. This repurchase authorization allows the information technology services provider to repurchase up to 2.4% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board believes its stock is undervalued.

Analyst Ratings Changes

Several brokerages recently commented on CDW. Citigroup lifted their target price on CDW from $255.00 to $295.00 and gave the stock a “buy” rating in a report on Thursday, April 4th. Evercore ISI raised their target price on shares of CDW from $250.00 to $300.00 and gave the stock an “outperform” rating in a report on Friday, March 22nd. JPMorgan Chase & Co. increased their price objective on shares of CDW from $267.00 to $280.00 and gave the stock an “overweight” rating in a research report on Thursday, April 11th. Finally, Barclays raised their price objective on shares of CDW from $219.00 to $261.00 and gave the stock an “equal weight” rating in a report on Thursday, February 8th. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $238.90.

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.