Aquatic Capital Management LLC Takes Position in CDW Co. (NASDAQ:CDW)

Aquatic Capital Management LLC purchased a new position in shares of CDW Co. (NASDAQ:CDW) during the 4th quarter, Holdings Channel reports. The institutional investor purchased 33,994 shares of the information technology services provider’s stock, valued at approximately $5,916,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CDW. Coldstream Capital Management Inc. grew its holdings in CDW by 11.5% during the 4th quarter. Coldstream Capital Management Inc. now owns 1,778 shares of the information technology services provider’s stock valued at $309,000 after purchasing an additional 184 shares in the last quarter. Nebula Research & Development LLC purchased a new position in CDW in the fourth quarter valued at about $1,511,000. Two Creeks Capital Management LP acquired a new stake in CDW during the 4th quarter valued at approximately $24,289,000. Hsbc Holdings PLC increased its holdings in CDW by 7.1% during the 4th quarter. Hsbc Holdings PLC now owns 302,098 shares of the information technology services provider’s stock worth $52,553,000 after purchasing an additional 19,922 shares during the last quarter. Finally, J. Safra Sarasin Holding AG acquired a new position in shares of CDW in the 4th quarter valued at approximately $468,000. Hedge funds and other institutional investors own 93.15% of the company’s stock.

CDW Stock Down 0.6 %

Shares of CDW stock opened at $157.95 on Friday. The stock has a market capitalization of $20.81 billion, a price-to-earnings ratio of 19.82, a PEG ratio of 3.21 and a beta of 0.97. CDW Co. has a twelve month low of $137.31 and a twelve month high of $248.12. The company has a current ratio of 1.35, a quick ratio of 1.24 and a debt-to-equity ratio of 2.38. The business’s 50 day simple moving average is $164.15 and its 200-day simple moving average is $181.09.

CDW (NASDAQ:CDW) last posted its earnings results on Wednesday, February 5th. The information technology services provider reported $2.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 forecast that CDW Co. will post 9.41 earnings per share for the current year.

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

CDW Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 11th. Shareholders of record on Tuesday, February 25th were given a $0.625 dividend. This represents a $2.50 annualized dividend and a yield of 1.58%. The ex-dividend date of this dividend was Tuesday, February 25th. CDW’s dividend payout ratio (DPR) is 31.37%.

Analyst Upgrades and Downgrades

CDW has been the subject of a number of research analyst reports. UBS Group dropped their price target on shares of CDW from $233.00 to $220.00 and set a “buy” rating for the company in a research note on Tuesday, January 7th. Citigroup dropped their target price on shares of CDW from $220.00 to $160.00 and set a “neutral” rating for the company in a research report on Monday, April 14th. Morgan Stanley increased their price target on shares of CDW from $193.00 to $201.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 6th. Barclays boosted their price objective on CDW from $201.00 to $223.00 and gave the company an “equal weight” rating in a report on Thursday, February 6th. Finally, JPMorgan Chase & Co. reduced their target price on CDW from $222.00 to $175.00 and set a “neutral” rating on the stock in a report on Thursday, April 17th. Four investment 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 stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $217.38.

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.