CDW Co. (NASDAQ:CDW) Shares Bought by Proficio Capital Partners LLC

Proficio Capital Partners LLC lifted its holdings in CDW Co. (NASDAQ:CDW) by 5.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,948 shares of the information technology services provider’s stock after purchasing an additional 205 shares during the period. Proficio Capital Partners LLC’s holdings in CDW were worth $687,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. Allworth Financial LP grew its stake in shares of CDW by 39.7% in the 4th quarter. Allworth Financial LP now owns 183 shares of the information technology services provider’s stock worth $32,000 after purchasing an additional 52 shares during the last quarter. Summit Trail Advisors LLC grew its stake in shares of CDW by 1.4% in the 4th quarter. Summit Trail Advisors LLC now owns 4,040 shares of the information technology services provider’s stock worth $703,000 after purchasing an additional 56 shares during the last quarter. Parkside Financial Bank & Trust grew its stake in shares of CDW by 38.9% in the 4th quarter. Parkside Financial Bank & Trust now owns 207 shares of the information technology services provider’s stock worth $36,000 after purchasing an additional 58 shares during the last quarter. Fulcrum Equity Management grew its stake in shares of CDW by 4.3% in the 3rd quarter. Fulcrum Equity Management now owns 1,442 shares of the information technology services provider’s stock worth $326,000 after purchasing an additional 60 shares during the last quarter. Finally, Jacobi Capital Management LLC grew its stake in shares of CDW by 4.5% in the 4th quarter. Jacobi Capital Management LLC now owns 1,428 shares of the information technology services provider’s stock worth $248,000 after purchasing an additional 61 shares during the last quarter. Institutional investors and hedge funds own 93.15% of the company’s stock.

CDW Stock Performance

CDW stock opened at $165.57 on Friday. The company has a debt-to-equity ratio of 2.38, a quick ratio of 1.24 and a current ratio of 1.35. The stock has a market cap of $21.94 billion, a P/E ratio of 20.77, a P/E/G ratio of 3.21 and a beta of 1.01. The firm has a 50 day simple moving average of $184.40 and a 200 day simple moving average of $193.19. CDW Co. has a 52 week low of $162.84 and a 52 week high of $263.37.

CDW (NASDAQ:CDW) last posted its quarterly earnings results on Wednesday, February 5th. The information technology services provider reported $2.40 EPS for the quarter, topping the consensus estimate of $2.33 by $0.07. CDW had a net margin of 5.13% and a return on equity of 55.42%. Research analysts anticipate that CDW Co. will post 9.41 earnings per share for the current fiscal year.

CDW Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 11th. Investors of record on Tuesday, February 25th were issued a dividend of $0.625 per share. This represents a $2.50 annualized dividend and a dividend yield of 1.51%. The ex-dividend date was Tuesday, February 25th. CDW’s dividend payout ratio is currently 31.37%.

CDW announced that its board has approved a stock repurchase program on Wednesday, February 5th that authorizes the company to buyback $750.00 million in shares. This buyback authorization authorizes the information technology services provider to repurchase up to 2.7% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its stock is undervalued.

Analysts Set New Price Targets

CDW has been the subject of several recent analyst reports. Barclays raised their target price on shares of CDW from $201.00 to $223.00 and gave the stock an “equal weight” rating in a report on Thursday, February 6th. Morgan Stanley raised their target price on shares of CDW from $193.00 to $201.00 and gave the stock an “equal weight” rating in a report on Thursday, February 6th. Finally, UBS Group decreased their target price on shares of CDW from $233.00 to $220.00 and set a “buy” rating for the company in a report on Tuesday, January 7th. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $235.50.

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.