Toroso Investments LLC Purchases 516 Shares of CDW Co. (NASDAQ:CDW)

Toroso Investments LLC raised its holdings in CDW Co. (NASDAQ:CDW – Get Rating) by 8.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,381 shares of the information technology services provider’s stock after buying an additional 516 shares during the quarter. Toroso Investments LLC’s holdings in CDW were worth $996,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the business. Vestmark Advisory Solutions Inc. raised its position in CDW by 205.0% in the third quarter. Vestmark Advisory Solutions Inc. now owns 11,998 shares of the information technology services provider’s stock worth $1,873,000 after purchasing an additional 8,064 shares in the last quarter. Ensign Peak Advisors Inc lifted its position in shares of CDW by 0.7% during the 2nd quarter. Ensign Peak Advisors Inc now owns 42,231 shares of the information technology services provider’s stock worth $6,655,000 after buying an additional 281 shares during the period. Mitsubishi UFJ Trust & Banking Corp boosted its stake in CDW by 4.0% in the 3rd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 89,591 shares of the information technology services provider’s stock valued at $13,982,000 after buying an additional 3,474 shares in the last quarter. RDA Financial Network grew its position in CDW by 9.2% in the third quarter. RDA Financial Network now owns 1,678 shares of the information technology services provider’s stock valued at $262,000 after acquiring an additional 141 shares during the period. Finally, Ieq Capital LLC raised its stake in CDW by 163.9% during the third quarter. Ieq Capital LLC now owns 9,831 shares of the information technology services provider’s stock worth $1,534,000 after acquiring an additional 6,106 shares in the last quarter. Institutional investors and hedge funds own 92.78% of the company’s stock.

Insider Buying and Selling

In other CDW news, Director Donna F. Zarcone sold 4,703 shares of the firm’s stock in a transaction that occurred on Thursday, February 9th. The shares were sold at an average price of $203.23, for a total value of $955,790.69. Following the transaction, the director now directly owns 18,058 shares of the company’s stock, valued at $3,669,927.34. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.67% of the stock is currently owned by insiders.

CDW Stock Down 2.9 %

NASDAQ CDW opened at $188.05 on Friday. The stock has a market capitalization of $25.50 billion, a P/E ratio of 23.13, a price-to-earnings-growth ratio of 1.46 and a beta of 1.13. CDW Co. has a 52 week low of $147.91 and a 52 week high of $215.00. The company has a debt-to-equity ratio of 3.66, a quick ratio of 1.17 and a current ratio of 1.33. The stock has a fifty day moving average of $199.07 and a 200-day moving average of $182.86.

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

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

CDW Announces Dividend

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

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on CDW shares. Citigroup boosted their target price on shares of CDW from $210.00 to $230.00 and gave the company a “buy” rating in a research note on Thursday, February 9th. Credit Suisse Group raised their price objective on shares of CDW from $220.00 to $230.00 and gave the stock an “outperform” rating in a report on Thursday, February 9th. JPMorgan Chase & Co. lifted their target price on shares of CDW from $215.00 to $225.00 and gave the company an “overweight” rating in a research note on Tuesday, December 20th. Raymond James increased their price target on CDW from $200.00 to $220.00 and gave the stock an “outperform” rating in a research report on Thursday, February 9th. Finally, StockNews.com initiated coverage on CDW in a research report on Thursday. They issued a “hold” rating for the company. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $221.86.

About CDW

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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.