Simplicity Solutions LLC Acquires 65 Shares of CDW Co. (NASDAQ:CDW)

Simplicity Solutions LLC lifted its holdings in CDW Co. (NASDAQ:CDW) by 2.3% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,907 shares of the information technology services provider’s stock after buying an additional 65 shares during the quarter. Simplicity Solutions LLC’s holdings in CDW were worth $661,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. OFI Invest Asset Management acquired a new stake in CDW in the third quarter worth about $25,000. VisionPoint Advisory Group LLC acquired a new position in shares of CDW during the 3rd quarter worth about $28,000. TFC Financial Management Inc. grew its position in shares of CDW by 61.1% during the 3rd quarter. TFC Financial Management Inc. now owns 145 shares of the information technology services provider’s stock worth $29,000 after buying an additional 55 shares during the period. Altshuler Shaham Ltd acquired a new position in shares of CDW during the 4th quarter worth about $33,000. Finally, Orion Capital Management LLC acquired a new position in shares of CDW during the 3rd quarter worth about $35,000. 93.15% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

CDW has been the subject of several analyst reports. Citigroup boosted their target price on CDW from $255.00 to $295.00 and gave the stock a “buy” rating in a research report on Thursday, April 4th. JPMorgan Chase & Co. boosted their target price on CDW from $267.00 to $280.00 and gave the stock an “overweight” rating in a research report on Thursday, April 11th. Barclays boosted their target price on CDW from $219.00 to $261.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 8th. Finally, Evercore ISI boosted their target price on CDW from $250.00 to $300.00 and gave the stock an “outperform” rating in a research report on Friday, March 22nd. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $238.90.

CDW Trading Down 1.3 %

NASDAQ:CDW opened at $236.78 on Thursday. CDW Co. has a fifty-two week low of $160.66 and a fifty-two week high of $263.37. The company has a debt-to-equity ratio of 2.46, a current ratio of 1.23 and a quick ratio of 1.11. The stock has a market capitalization of $31.82 billion, a PE ratio of 29.23, a price-to-earnings-growth ratio of 2.74 and a beta of 1.09. The business’s 50-day simple moving average is $247.57 and its 200-day simple moving average is $226.99.

CDW (NASDAQ:CDW) last released its earnings results on Wednesday, February 7th. The information technology services provider reported $2.57 EPS for the quarter, beating the consensus estimate of $2.56 by $0.01. The firm had revenue of $5.02 billion for the quarter, compared to analysts’ expectations of $5.32 billion. CDW had a return on equity of 73.93% and a net margin of 5.17%. The business’s quarterly revenue was down 7.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.40 EPS. Sell-side analysts expect that CDW Co. will post 9.88 earnings per share for the current fiscal year.

CDW Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 12th. Shareholders of record on Monday, February 26th were paid a $0.62 dividend. This represents a $2.48 annualized dividend and a yield of 1.05%. The ex-dividend date was Friday, February 23rd. CDW’s 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 repurchase $750.00 million in outstanding shares. This repurchase authorization permits the information technology services provider to buy up to 2.4% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board 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.