AGF Management Ltd. Takes Position in CDW Co. (NASDAQ:CDW)

AGF Management Ltd. bought a new position in CDW Co. (NASDAQ:CDW) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 20,115 shares of the information technology services provider’s stock, valued at approximately $3,691,000.

Several other hedge funds and other institutional investors have also bought and sold shares of CDW. Cambridge Investment Research Advisors Inc. lifted its position in shares of CDW by 9.2% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 6,513 shares of the information technology services provider’s stock valued at $1,165,000 after buying an additional 547 shares in the last quarter. Acadian Asset Management LLC bought a new position in shares of CDW in the first quarter worth approximately $103,000. Panagora Asset Management Inc. increased its stake in shares of CDW by 160.4% in the first quarter. Panagora Asset Management Inc. now owns 4,645 shares of the information technology services provider’s stock worth $831,000 after purchasing an additional 2,861 shares in the last quarter. Yousif Capital Management LLC raised its position in shares of CDW by 0.3% during the 1st quarter. Yousif Capital Management LLC now owns 20,523 shares of the information technology services provider’s stock valued at $3,671,000 after purchasing an additional 65 shares during the period. Finally, Blair William & Co. IL lifted its stake in shares of CDW by 1.5% during the 1st quarter. Blair William & Co. IL now owns 33,977 shares of the information technology services provider’s stock valued at $6,078,000 after buying an additional 515 shares in the last quarter. Institutional investors own 93.04% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on CDW. StockNews.com began coverage on CDW in a research note on Thursday, October 5th. They issued a “hold” rating for the company. Evercore ISI increased their price objective on shares of CDW from $215.00 to $250.00 in a report on Thursday, October 12th. Raymond James lifted their target price on CDW from $200.00 to $220.00 and gave the stock an “outperform” rating in a report on Thursday, August 3rd. Morgan Stanley dropped their price target on CDW from $230.00 to $216.00 and set an “overweight” rating for the company in a research note on Thursday, November 2nd. Finally, UBS Group assumed coverage on CDW in a research note on Tuesday, October 3rd. They issued a “buy” rating and a $237.00 price objective on the stock. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $213.20.

CDW Stock Up 0.2 %

NASDAQ:CDW opened at $218.92 on Thursday. The company has a debt-to-equity ratio of 3.13, a current ratio of 1.35 and a quick ratio of 1.20. The firm has a market cap of $29.33 billion, a PE ratio of 27.33, a price-to-earnings-growth ratio of 1.74 and a beta of 1.11. The company has a 50-day moving average of $206.35 and a 200 day moving average of $192.55. CDW Co. has a 1-year low of $160.66 and a 1-year high of $219.71.

CDW Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 12th. Shareholders of record on Friday, November 24th will be issued a dividend of $0.62 per share. The ex-dividend date is Wednesday, November 22nd. This represents a $2.48 dividend on an annualized basis and a yield of 1.13%. This is a positive change from CDW’s previous quarterly dividend of $0.59. CDW’s dividend payout ratio is currently 29.46%.

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, hybrid, and cloud capabilities across hybrid infrastructure, digital experience, and security.