GAMMA Investing LLC Takes $334,000 Position in CDW Co. (NASDAQ:CDW)

GAMMA Investing LLC bought 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 and Exchange Commission (SEC). The fund bought 1,472 shares of the information technology services provider’s stock, valued at approximately $334,000.

A number of other institutional investors also recently modified their holdings of CDW. Capital Investment Advisors LLC boosted its position in shares of CDW by 35.5% in the third quarter. Capital Investment Advisors LLC now owns 1,546 shares of the information technology services provider’s stock valued at $312,000 after acquiring an additional 405 shares during the period. Meridian Wealth Management LLC lifted its position in CDW by 3.6% during the third quarter. Meridian Wealth Management LLC now owns 1,806 shares of the information technology services provider’s stock worth $364,000 after purchasing an additional 63 shares during the period. Strategic Blueprint LLC lifted its position in CDW by 3.8% during the third quarter. Strategic Blueprint LLC now owns 3,136 shares of the information technology services provider’s stock worth $633,000 after purchasing an additional 115 shares during the period. RDA Financial Network lifted its position in CDW by 7.4% during the third quarter. RDA Financial Network now owns 1,806 shares of the information technology services provider’s stock worth $364,000 after purchasing an additional 124 shares during the period. Finally, CX Institutional bought a new stake in CDW during the third quarter worth about $2,654,000. Institutional investors own 93.15% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on CDW shares. Citigroup upped their price objective on shares of CDW from $255.00 to $295.00 and gave the stock a “buy” rating in a research report on Thursday, April 4th. JPMorgan Chase & Co. upped 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. Evercore ISI upped their price objective on shares of CDW from $250.00 to $300.00 and gave the stock an “outperform” rating in a research report on Friday, March 22nd. Finally, Barclays boosted their target price on CDW from $219.00 to $261.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 8th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, CDW currently has an average rating of “Moderate Buy” and a consensus price target of $242.67.

CDW Stock Performance

CDW stock opened at $240.69 on Thursday. The business has a 50 day moving average of $247.19 and a 200-day moving average of $228.12. CDW Co. has a 1 year low of $162.59 and a 1 year high of $263.37. The company has a debt-to-equity ratio of 2.46, a current ratio of 1.23 and a quick ratio of 1.11. The company has a market capitalization of $32.34 billion, a P/E ratio of 29.71, a P/E/G ratio of 2.72 and a beta of 1.09.

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 company had revenue of $5.02 billion during the quarter, compared to the consensus estimate of $5.32 billion. During the same quarter in the prior year, the firm posted $2.40 earnings per share. The firm’s revenue was down 7.7% compared to the same quarter last year. On average, equities research analysts predict that CDW Co. will post 9.89 earnings per share for the current year.

CDW Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 12th. Stockholders of record on Monday, February 26th were paid a $0.62 dividend. This represents a $2.48 annualized dividend and a dividend yield of 1.03%. The ex-dividend date was Friday, February 23rd. CDW’s dividend payout ratio is currently 30.62%.

CDW announced that its board has authorized a share repurchase plan on Wednesday, February 7th that permits the company to buyback $750.00 million in shares. This buyback authorization permits the information technology services provider to reacquire up to 2.4% of its shares through open market purchases. Shares buyback plans are often 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.