River Global Investors LLP Invests $4.73 Million in CDW Co. (NASDAQ:CDW)

River Global Investors LLP bought a new position in shares of 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 bought 20,810 shares of the information technology services provider’s stock, valued at approximately $4,732,000. CDW makes up about 0.9% of River Global Investors LLP’s holdings, making the stock its 25th biggest position.

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

CDW Trading Up 0.5 %

Shares of NASDAQ:CDW traded up $1.15 during midday trading on Friday, hitting $219.56. 805,670 shares of the stock were exchanged, compared to its average volume of 768,724. The stock has a market capitalization of $29.51 billion, a price-to-earnings ratio of 27.41, a P/E/G ratio of 2.47 and a beta of 1.09. The company has a debt-to-equity ratio of 2.35, a quick ratio of 1.11 and a current ratio of 1.26. The business’s 50-day moving average price is $245.67 and its 200 day moving average price is $229.16. CDW Co. has a 12 month low of $162.59 and a 12 month high of $263.37.

CDW (NASDAQ:CDW) last released its quarterly earnings results on Wednesday, February 7th. The information technology services provider reported $2.57 earnings per share for the quarter, topping the consensus estimate of $2.56 by $0.01. The company had revenue of $5.02 billion for the quarter, compared to analysts’ expectations of $5.32 billion. CDW had a return on equity of 67.56% and a net margin of 5.16%. The business’s quarterly revenue was down 7.7% compared to the same quarter last year. During the same period in the previous year, the business posted $2.40 earnings per share. Analysts predict that CDW Co. will post 9.89 earnings per share for the current year.

CDW declared that its Board of Directors has authorized a share repurchase program on Wednesday, February 7th that permits the company to buyback $750.00 million in outstanding shares. This buyback authorization permits the information technology services provider to purchase up to 2.4% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

CDW Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 11th. Shareholders of record on Friday, May 24th will be paid a $0.62 dividend. This represents a $2.48 annualized dividend and a yield of 1.13%. The ex-dividend date of this dividend is Thursday, May 23rd. CDW’s dividend payout ratio (DPR) is presently 30.96%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on CDW. Evercore ISI boosted their price target on CDW from $250.00 to $300.00 and gave the company an “outperform” rating in a research note on Friday, March 22nd. Stifel Nicolaus dropped their price target on CDW from $265.00 to $250.00 and set a “buy” rating for the company in a research note on Thursday. Citigroup dropped their price target on CDW from $295.00 to $260.00 and set a “buy” rating for the company in a research note on Thursday. Barclays lowered their target price on CDW from $261.00 to $232.00 and set an “equal weight” rating for the company in a research note on Thursday. Finally, JPMorgan Chase & Co. lowered their target price on CDW from $280.00 to $265.00 and set an “overweight” rating for the company in a research note on Thursday. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $235.50.

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.