National Bank of Canada FI Raises Stock Position in CDW Co. (NASDAQ:CDW)

National Bank of Canada FI raised its stake in shares of CDW Co. (NASDAQ:CDW) by 21.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 106,695 shares of the information technology services provider’s stock after buying an additional 18,696 shares during the period. National Bank of Canada FI owned about 0.08% of CDW worth $23,544,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of CDW. Raymond James Financial Services Advisors Inc. raised its stake in CDW by 16.1% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 49,011 shares of the information technology services provider’s stock valued at $11,141,000 after purchasing an additional 6,799 shares during the period. Cerity Partners LLC lifted its holdings in shares of CDW by 44.9% in the 4th quarter. Cerity Partners LLC now owns 14,553 shares of the information technology services provider’s stock worth $3,308,000 after buying an additional 4,511 shares during the period. Pacer Advisors Inc. lifted its position in shares of CDW by 84.9% in the 4th quarter. Pacer Advisors Inc. now owns 15,924 shares of the information technology services provider’s stock worth $3,620,000 after purchasing an additional 7,310 shares during the period. JGP Wealth Management LLC purchased a new position in CDW in the fourth quarter valued at about $1,559,000. Finally, California Public Employees Retirement System lifted its position in shares of CDW by 1.0% during the third quarter. California Public Employees Retirement System now owns 819,011 shares of the information technology services provider’s stock valued at $165,244,000 after buying an additional 7,854 shares during the last quarter. 93.15% of the stock is owned by institutional investors.

Analyst Ratings Changes

CDW has been the subject of a number of analyst reports. Barclays decreased their target price on shares of CDW from $261.00 to $232.00 and set an “equal weight” rating for the company in a research report on Thursday, May 2nd. Stifel Nicolaus cut their price objective on CDW from $265.00 to $250.00 and set a “buy” rating for the company in a research report on Thursday, May 2nd. Citigroup reduced their target price on shares of CDW from $295.00 to $260.00 and set a “buy” rating for the company in a research report on Thursday, May 2nd. 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 report on Friday, March 22nd. Finally, JPMorgan Chase & Co. decreased their target price on shares of CDW from $280.00 to $265.00 and set an “overweight” rating on the stock in a research note on Thursday, May 2nd. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $247.50.

CDW Stock Up 1.0 %

CDW stock opened at $221.82 on Tuesday. CDW Co. has a one year low of $164.62 and a one year high of $263.37. The firm has a market cap of $29.81 billion, a PE ratio of 27.69, a PEG ratio of 3.16 and a beta of 1.09. The firm’s 50 day moving average price is $245.18 and its 200-day moving average price is $229.60. The company has a debt-to-equity ratio of 2.35, a quick ratio of 1.13 and a current ratio of 1.26.

CDW (NASDAQ:CDW) last posted its earnings results on Wednesday, February 7th. The information technology services provider reported $2.57 EPS for the quarter, beating analysts’ consensus estimates of $2.56 by $0.01. The company had revenue of $5.02 billion for the quarter, compared to the consensus estimate of $5.32 billion. CDW had a return on equity of 67.56% and a net margin of 5.16%. The company’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 earned $2.40 earnings per share. On average, equities research analysts anticipate that CDW Co. will post 9.89 EPS for the current year.

CDW Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 11th. Stockholders of record on Friday, May 24th will be paid a $0.62 dividend. The ex-dividend date is Thursday, May 23rd. This represents a $2.48 dividend on an annualized basis and a dividend yield of 1.12%. CDW’s payout ratio is presently 30.96%.

CDW announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, February 7th that authorizes the company to repurchase $750.00 million in outstanding shares. This repurchase authorization authorizes the information technology services provider to repurchase up to 2.4% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s management believes its shares are 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.