Larson Financial Group LLC Takes Position in CDW Co. (NASDAQ:CDW)

Larson Financial Group LLC bought a new stake in shares of CDW Co. (NASDAQ:CDW) in the fourth quarter, Holdings Channel reports. The fund bought 133 shares of the information technology services provider’s stock, valued at approximately $30,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of CDW. Meridian Wealth Management LLC grew its position in shares of CDW by 3.6% during the 3rd quarter. Meridian Wealth Management LLC now owns 1,806 shares of the information technology services provider’s stock valued at $364,000 after acquiring an additional 63 shares during the period. Strategic Blueprint LLC boosted its holdings in CDW by 3.8% in the 3rd quarter. Strategic Blueprint LLC now owns 3,136 shares of the information technology services provider’s stock worth $633,000 after buying an additional 115 shares during the period. Czech National Bank boosted its holdings in CDW by 46.7% in the 3rd quarter. Czech National Bank now owns 23,429 shares of the information technology services provider’s stock worth $4,727,000 after buying an additional 7,463 shares during the period. Handelsbanken Fonder AB boosted its holdings in CDW by 151.3% in the 3rd quarter. Handelsbanken Fonder AB now owns 17,379 shares of the information technology services provider’s stock worth $3,506,000 after buying an additional 10,464 shares during the period. Finally, Ballentine Partners LLC boosted its holdings in CDW by 1.1% in the 3rd quarter. Ballentine Partners LLC now owns 4,911 shares of the information technology services provider’s stock worth $991,000 after buying an additional 54 shares during the period. 93.15% of the stock is owned by institutional investors.

CDW Stock Down 0.5 %

Shares of NASDAQ:CDW opened at $242.26 on Friday. The firm has a fifty day moving average price of $247.23 and a two-hundred day moving average price of $228.31. The company has a debt-to-equity ratio of 2.46, a current ratio of 1.23 and a quick ratio of 1.11. CDW Co. has a one year low of $162.59 and a one year high of $263.37. The company has a market cap of $32.55 billion, a price-to-earnings ratio of 29.91, a PEG ratio of 2.73 and a beta of 1.09.

CDW (NASDAQ:CDW) last posted its quarterly earnings data on Wednesday, February 7th. The information technology services provider reported $2.57 earnings per share 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 net margin of 5.17% and a return on equity of 73.93%. The business’s quarterly revenue was down 7.7% on a year-over-year basis. During the same quarter last year, the company posted $2.40 EPS. Analysts anticipate that CDW Co. will post 9.89 EPS for the current fiscal year.

CDW Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 12th. Stockholders of record on Monday, February 26th were given a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a dividend yield of 1.02%. 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 buyback plan on Wednesday, February 7th that authorizes the company to buyback $750.00 million in outstanding shares. This buyback authorization authorizes the information technology services provider to buy up to 2.4% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its stock is undervalued.

Analyst Upgrades and Downgrades

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

CDW Company 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.