Cerity Partners LLC Acquires 4,511 Shares of CDW Co. (NASDAQ:CDW)

Cerity Partners LLC raised its holdings in CDW Co. (NASDAQ:CDW) by 44.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 14,553 shares of the information technology services provider’s stock after acquiring an additional 4,511 shares during the period. Cerity Partners LLC’s holdings in CDW were worth $3,308,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Aaron Wealth Advisors LLC boosted its stake in shares of CDW by 4.5% during the fourth quarter. Aaron Wealth Advisors LLC now owns 1,498 shares of the information technology services provider’s stock valued at $341,000 after purchasing an additional 64 shares in the last quarter. Kendall Capital Management boosted its stake in shares of CDW by 5.8% during the fourth quarter. Kendall Capital Management now owns 21,748 shares of the information technology services provider’s stock valued at $4,944,000 after purchasing an additional 1,198 shares in the last quarter. Harbour Trust & Investment Management Co acquired a new stake in shares of CDW during the fourth quarter valued at about $4,194,000. Toth Financial Advisory Corp lifted its stake in shares of CDW by 5.2% in the fourth quarter. Toth Financial Advisory Corp now owns 21,744 shares of the information technology services provider’s stock worth $4,943,000 after acquiring an additional 1,070 shares during the period. Finally, Sequoia Financial Advisors LLC lifted its stake in shares of CDW by 804.2% in the fourth quarter. Sequoia Financial Advisors LLC now owns 28,410 shares of the information technology services provider’s stock worth $6,458,000 after acquiring an additional 25,268 shares during the period. Institutional investors own 93.15% of the company’s stock.

Analysts Set New Price Targets

CDW has been the topic of a number of recent analyst reports. Barclays lifted their price objective on CDW from $219.00 to $261.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 8th. Citigroup lifted their price objective on CDW from $255.00 to $295.00 and gave the stock a “buy” rating in a research note on Thursday, April 4th. JPMorgan Chase & Co. lifted their price objective on CDW from $267.00 to $280.00 and gave the stock an “overweight” rating in a research note on Thursday, April 11th. Finally, Evercore ISI lifted their price objective on CDW from $250.00 to $300.00 and gave the stock an “outperform” rating in a research note on Friday, March 22nd. Four analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $238.90.

CDW Trading Down 1.3 %

Shares of CDW stock opened at $236.78 on Thursday. The company has a market cap of $31.82 billion, a P/E ratio of 29.23, a PEG ratio of 2.74 and a beta of 1.09. The stock has a 50 day simple moving average of $247.57 and a two-hundred day simple moving average of $226.99. The company has a debt-to-equity ratio of 2.46, a quick ratio of 1.11 and a current ratio of 1.23. CDW Co. has a fifty-two week low of $160.66 and a fifty-two week high of $263.37.

CDW (NASDAQ:CDW) last issued its earnings results on Wednesday, February 7th. The information technology services provider reported $2.57 earnings per share for the quarter, topping analysts’ consensus estimates of $2.56 by $0.01. The business had revenue of $5.02 billion during the quarter, compared to the consensus estimate of $5.32 billion. CDW had a return on equity of 73.93% and a net margin of 5.17%. The firm’s revenue for the quarter was down 7.7% on a year-over-year basis. During the same period in the previous year, the company posted $2.40 earnings per share. Research analysts forecast that CDW Co. will post 9.88 earnings per share for the current year.

CDW Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 12th. Stockholders of record on Monday, February 26th were issued a dividend of $0.62 per share. The ex-dividend date was Friday, February 23rd. This represents a $2.48 annualized dividend and a dividend yield of 1.05%. CDW’s dividend payout ratio is 30.62%.

CDW announced that its board has approved a stock buyback plan on Wednesday, February 7th that permits the company to buyback $750.00 million in shares. This buyback authorization permits the information technology services provider to buy up to 2.4% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

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.