CDW Co. (NASDAQ:CDW) Shares Acquired by abrdn plc

abrdn plc lifted its stake in CDW Co. (NASDAQ:CDW) by 34.4% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 65,058 shares of the information technology services provider’s stock after buying an additional 16,648 shares during the quarter. abrdn plc’s holdings in CDW were worth $14,789,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. OFI Invest Asset Management acquired a new stake in shares of CDW during the 3rd quarter worth approximately $25,000. VisionPoint Advisory Group LLC acquired a new stake in CDW during the third quarter valued at $28,000. TFC Financial Management Inc. increased its holdings in CDW by 61.1% in the third quarter. TFC Financial Management Inc. now owns 145 shares of the information technology services provider’s stock valued at $29,000 after buying an additional 55 shares in the last quarter. ORG Partners LLC acquired a new position in shares of CDW in the fourth quarter worth about $36,000. Finally, Oakworth Capital Inc. purchased a new stake in shares of CDW during the 4th quarter worth about $36,000. 93.15% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the company. Citigroup lifted their price target on CDW from $255.00 to $295.00 and gave the company a “buy” rating in a research note on Thursday, April 4th. Barclays upped their target price on CDW from $219.00 to $261.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 8th. JPMorgan Chase & Co. lifted their price target on shares of CDW from $267.00 to $280.00 and gave the company an “overweight” rating in a research note on Thursday, April 11th. Finally, Evercore ISI boosted their price target on shares of CDW from $250.00 to $300.00 and gave the stock an “outperform” rating in a report on Friday, March 22nd. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $242.67.

CDW Stock Performance

NASDAQ:CDW opened at $240.69 on Thursday. CDW Co. has a twelve month low of $162.59 and a twelve month high of $263.37. The company has a market cap of $32.34 billion, a P/E ratio of 29.71, a P/E/G ratio of 2.69 and a beta of 1.09. The company has a current ratio of 1.23, a quick ratio of 1.11 and a debt-to-equity ratio of 2.46. The company’s 50-day moving average price is $247.19 and its 200-day moving average price is $228.12.

CDW (NASDAQ:CDW) last released 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 for the quarter, compared to analyst estimates of $5.32 billion. CDW had a net margin of 5.17% and a return on equity of 73.93%. The business’s revenue was down 7.7% on a year-over-year basis. During the same period last year, the company posted $2.40 EPS. On average, sell-side analysts forecast that CDW Co. will post 9.89 earnings per share for the current fiscal year.

CDW Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 12th. Shareholders of record on Monday, February 26th were paid a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a yield of 1.03%. The ex-dividend date of this dividend was Friday, February 23rd. CDW’s dividend payout ratio (DPR) is currently 30.62%.

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

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.