Strategic Financial Concepts LLC Invests $3.15 Million in CDW Co. (NASDAQ:CDW)

Strategic Financial Concepts LLC purchased a new position in CDW Co. (NASDAQ:CDW) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 18,100 shares of the information technology services provider’s stock, valued at approximately $3,150,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Canoe Financial LP purchased a new stake in shares of CDW during the third quarter valued at approximately $37,000. Fortitude Family Office LLC lifted its position in CDW by 350.0% in the 3rd quarter. Fortitude Family Office LLC now owns 171 shares of the information technology services provider’s stock valued at $39,000 after acquiring an additional 133 shares in the last quarter. Ashton Thomas Securities LLC purchased a new stake in CDW during the 3rd quarter valued at $43,000. Covestor Ltd increased its holdings in shares of CDW by 80.1% in the 3rd quarter. Covestor Ltd now owns 245 shares of the information technology services provider’s stock worth $55,000 after purchasing an additional 109 shares in the last quarter. Finally, ORG Wealth Partners LLC purchased a new position in shares of CDW in the fourth quarter worth $69,000. Institutional investors own 93.15% of the company’s stock.

CDW Price Performance

Shares of CDW stock opened at $192.02 on Monday. The stock has a market cap of $25.59 billion, a P/E ratio of 24.09, a P/E/G ratio of 5.40 and a beta of 1.01. The company has a debt-to-equity ratio of 2.38, a quick ratio of 1.28 and a current ratio of 1.35. The stock’s fifty day moving average is $183.86 and its 200 day moving average is $201.96. CDW Co. has a one year low of $168.43 and a one year high of $263.37.

CDW (NASDAQ:CDW) last posted its quarterly earnings data on Wednesday, February 5th. The information technology services provider reported $2.40 earnings per share 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%. Sell-side analysts anticipate that CDW Co. will post 9.35 earnings per share for the current year.

CDW announced that its board has initiated a stock repurchase 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 reacquire up to 2.7% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.

CDW Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 11th. Stockholders of record on Tuesday, February 25th will be paid a $0.625 dividend. The ex-dividend date is Tuesday, February 25th. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.30%. CDW’s dividend payout ratio (DPR) is presently 31.37%.

Analysts Set New Price Targets

A number of brokerages have weighed in on CDW. JPMorgan Chase & Co. lowered CDW from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $260.00 to $235.00 in a research report on Monday, October 28th. Barclays increased their price objective on shares of CDW from $201.00 to $223.00 and gave the company an “equal weight” rating in a research report on Thursday. Morgan Stanley lifted their target price on shares of CDW from $193.00 to $201.00 and gave the stock an “equal weight” rating in a research report on Thursday. 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 research note on Tuesday, January 7th. Finally, Redburn Atlantic assumed coverage on CDW in a report on Friday, November 15th. They issued a “buy” rating and a $230.00 price objective for the company. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $242.67.

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.