Pilgrim Partners Asia Pte Ltd Acquires New Position in CDW Co. (NASDAQ:CDW)

Pilgrim Partners Asia Pte Ltd bought a new position in shares of CDW Co. (NASDAQ:CDW) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 380 shares of the information technology services provider’s stock, valued at approximately $66,000.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Allworth Financial LP grew its holdings 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 acquiring an additional 52 shares during the period. OFI Invest Asset Management purchased a new position in shares of CDW in the fourth quarter valued at $32,000. Parkside Financial Bank & Trust raised its stake in shares of CDW by 38.9% during the 4th quarter. Parkside Financial Bank & Trust now owns 207 shares of the information technology services provider’s stock worth $36,000 after buying an additional 58 shares during the last quarter. Canoe Financial LP boosted its position in shares of CDW by 68.3% in the 4th quarter. Canoe Financial LP now owns 276 shares of the information technology services provider’s stock worth $48,000 after buying an additional 112 shares in the last quarter. Finally, ORG Wealth Partners LLC acquired a new stake in CDW in the 4th quarter valued at about $69,000. 93.15% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

CDW Price Performance

CDW stock opened at $144.49 on Friday. The stock has a market capitalization of $19.14 billion, a price-to-earnings ratio of 18.13, a price-to-earnings-growth ratio of 3.21 and a beta of 1.01. The stock’s fifty day simple moving average is $178.71 and its 200-day simple moving average is $189.54. CDW Co. has a 52-week low of $141.80 and a 52-week high of $257.33. The company has a quick ratio of 1.24, a current ratio of 1.35 and a debt-to-equity ratio of 2.38.

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, beating the consensus estimate of $2.33 by $0.07. CDW had a return on equity of 55.42% and a net margin of 5.13%. Equities research analysts expect that CDW Co. will post 9.41 EPS for the current year.

CDW declared that its Board of Directors has authorized a stock repurchase program on Wednesday, February 5th that permits the company to repurchase $750.00 million in outstanding shares. This repurchase authorization permits the information technology services provider to purchase up to 2.7% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s management believes its stock is undervalued.

CDW Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 11th. Stockholders of record on Tuesday, February 25th were paid a dividend of $0.625 per share. The ex-dividend date was Tuesday, February 25th. This represents a $2.50 annualized dividend and a dividend yield of 1.73%. CDW’s dividend payout ratio is presently 31.37%.

CDW Company 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.