Platform Technology Partners Acquires 347 Shares of CDW Co. (NASDAQ:CDW)

Platform Technology Partners lifted its position in CDW Co. (NASDAQ:CDW – Get Rating) by 9.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,037 shares of the information technology services provider’s stock after buying an additional 347 shares during the quarter. Platform Technology Partners’ holdings in CDW were worth $721,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in CDW. FMR LLC grew its stake in shares of CDW by 89.8% in the second quarter. FMR LLC now owns 4,868,526 shares of the information technology services provider’s stock valued at $767,086,000 after buying an additional 2,303,669 shares in the last quarter. California Public Employees Retirement System grew its stake in shares of CDW by 109.4% in the third quarter. California Public Employees Retirement System now owns 551,217 shares of the information technology services provider’s stock valued at $86,034,000 after buying an additional 287,957 shares in the last quarter. Renaissance Technologies LLC grew its stake in shares of CDW by 109.7% in the second quarter. Renaissance Technologies LLC now owns 500,398 shares of the information technology services provider’s stock valued at $78,843,000 after buying an additional 261,800 shares in the last quarter. Bank of Montreal Can grew its stake in shares of CDW by 186.1% in the second quarter. Bank of Montreal Can now owns 338,123 shares of the information technology services provider’s stock valued at $55,967,000 after buying an additional 219,946 shares in the last quarter. Finally, Cornerstone Investment Partners LLC acquired a new stake in CDW during the 3rd quarter valued at $30,927,000. 92.78% of the stock is owned by institutional investors.

Analysts Set New Price Targets

CDW has been the subject of several research reports. Credit Suisse Group raised their price target on CDW from $220.00 to $230.00 and gave the company an “outperform” rating in a report on Thursday, February 9th. Morgan Stanley raised their price target on CDW from $217.00 to $228.00 and gave the company an “overweight” rating in a report on Thursday, February 9th. Citigroup raised their price target on CDW from $210.00 to $230.00 and gave the company a “buy” rating in a report on Thursday, February 9th. StockNews.com initiated coverage on CDW in a report on Thursday. They set a “hold” rating for the company. Finally, Raymond James raised their price target on CDW from $200.00 to $220.00 and gave the company an “outperform” rating in a report on Thursday, February 9th. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $221.86.

Insider Activity at CDW

In related news, Director Donna F. Zarcone sold 4,703 shares of the business’s stock in a transaction dated Thursday, February 9th. The stock was sold at an average price of $203.23, for a total value of $955,790.69. Following the completion of the transaction, the director now owns 18,058 shares of the company’s stock, valued at $3,669,927.34. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.67% of the stock is owned by insiders.

CDW Stock Performance

Shares of CDW traded down $5.53 during midday trading on Friday, reaching $188.05. 1,622,270 shares of the stock were exchanged, compared to its average volume of 851,067. CDW Co. has a twelve month low of $147.91 and a twelve month high of $215.00. The company has a quick ratio of 1.17, a current ratio of 1.33 and a debt-to-equity ratio of 3.66. The company has a market cap of $25.50 billion, a P/E ratio of 23.13, a PEG ratio of 1.48 and a beta of 1.13. The stock’s 50 day simple moving average is $199.07 and its 200 day simple moving average is $182.80.

CDW (NASDAQ:CDW – Get Rating) last posted its earnings results on Wednesday, February 8th. The information technology services provider reported $2.50 earnings per share for the quarter, topping analysts’ consensus estimates of $2.48 by $0.02. The company had revenue of $5.44 billion during the quarter, compared to the consensus estimate of $6.19 billion. CDW had a return on equity of 103.95% and a net margin of 4.69%. The company’s revenue was down 1.8% on a year-over-year basis. During the same quarter last year, the firm earned $1.98 earnings per share. On average, sell-side analysts expect that CDW Co. will post 9.87 earnings per share for the current year.

CDW Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 10th. Investors of record on Friday, February 24th were paid a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 1.25%. The ex-dividend date of this dividend was Thursday, February 23rd. CDW’s dividend payout ratio (DPR) is presently 29.03%.

CDW declared that its board has approved a share buyback plan on Wednesday, February 8th that authorizes the company to repurchase $750.00 million in shares. This repurchase authorization authorizes the information technology services provider to buy up to 2.8% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

CDW Company Profile

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CDW Corp. engages in the provision of information technology solutions to small, medium, and large business, government, education, and healthcare customers. It operates through the following segments: Corporate, Small Business, Public, and Other. The Public segment includes government agencies and education and healthcare institutions.