Choreo LLC Purchases Shares of 4,509 CDW Co. (NASDAQ:CDW)

Choreo LLC bought a new stake in CDW Co. (NASDAQ:CDW) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 4,509 shares of the information technology services provider’s stock, valued at approximately $1,025,000.

Several other large investors have also made changes to their positions in CDW. Gitterman Wealth Management LLC bought a new stake in CDW during the 4th quarter worth approximately $225,000. Unique Wealth Strategies LLC acquired a new position in CDW in the fourth quarter worth $720,000. Alliance Wealth Advisors LLC UT grew its holdings in shares of CDW by 5.2% during the fourth quarter. Alliance Wealth Advisors LLC UT now owns 2,814 shares of the information technology services provider’s stock worth $640,000 after purchasing an additional 139 shares during the last quarter. Russell Investments Group Ltd. increased its stake in shares of CDW by 35.9% in the fourth quarter. Russell Investments Group Ltd. now owns 60,057 shares of the information technology services provider’s stock valued at $13,678,000 after buying an additional 15,856 shares in the last quarter. Finally, Delta Investment Management LLC lifted its position in CDW by 50.0% during the 4th quarter. Delta Investment Management LLC now owns 3,495 shares of the information technology services provider’s stock worth $795,000 after buying an additional 1,165 shares in the last quarter. Institutional investors own 93.15% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on CDW. JPMorgan Chase & Co. boosted their target price on shares of CDW from $267.00 to $280.00 and gave the stock an “overweight” rating in a research note on Thursday, April 11th. Barclays raised their price target on CDW from $219.00 to $261.00 and gave the company an “equal weight” rating in a report on Thursday, February 8th. Citigroup upped their target price on shares of CDW from $255.00 to $295.00 and gave the company a “buy” rating in a research report on Thursday, April 4th. Finally, Evercore ISI boosted their price target on shares of CDW from $250.00 to $300.00 and gave the stock an “outperform” rating in a research note on Friday, March 22nd. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, CDW currently has a consensus rating of “Moderate Buy” and an average target price of $242.67.

CDW Price Performance

CDW opened at $241.86 on Wednesday. The stock has a market cap of $32.50 billion, a P/E ratio of 29.86, a P/E/G ratio of 2.74 and a beta of 1.09. CDW Co. has a 12 month low of $162.59 and a 12 month high of $263.37. The company has a quick ratio of 1.11, a current ratio of 1.23 and a debt-to-equity ratio of 2.46. The company has a fifty day simple moving average of $247.34 and a 200 day simple moving average of $229.26.

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

CDW announced that its Board of Directors has approved a share buyback program 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 reacquire up to 2.4% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s leadership believes its stock is undervalued.

CDW Dividend Announcement

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

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.