Hixon Zuercher LLC Invests $1.24 Million in CDW Co. (NASDAQ:CDW)

Hixon Zuercher LLC bought a new stake in CDW Co. (NASDAQ:CDWFree Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 5,449 shares of the information technology services provider’s stock, valued at approximately $1,239,000.

Several other large investors also recently modified their holdings of CDW. OFI Invest Asset Management bought a new position in CDW in the 3rd quarter worth approximately $25,000. VisionPoint Advisory Group LLC bought a new stake in shares of CDW during the third quarter valued at about $28,000. TFC Financial Management Inc. increased its position in shares of CDW by 61.1% during 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 during the period. Altshuler Shaham Ltd purchased a new stake in shares of CDW in the fourth quarter worth about $33,000. Finally, Orion Capital Management LLC bought a new position in shares of CDW in the third quarter valued at approximately $35,000. Hedge funds and other institutional investors own 93.04% of the company’s stock.

CDW Price Performance

Shares of NASDAQ:CDW opened at $255.67 on Friday. The company’s fifty day moving average is $239.26 and its 200 day moving average is $221.53. The company has a quick ratio of 1.11, a current ratio of 1.23 and a debt-to-equity ratio of 2.46. CDW Co. has a 52 week low of $160.66 and a 52 week high of $256.41. The stock has a market cap of $34.31 billion, a PE ratio of 31.56, a PEG ratio of 2.90 and a beta of 1.09.

CDW (NASDAQ:CDWGet Free Report) last issued its earnings results 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 company had revenue of $5.02 billion during the quarter, compared to analysts’ expectations of $5.32 billion. CDW had a return on equity of 73.93% and a net margin of 5.17%. During the same period in the prior year, the business posted $2.40 EPS. CDW’s quarterly revenue was down 7.7% compared to the same quarter last year. Research analysts anticipate that CDW Co. will post 9.88 earnings per share for the current year.

CDW Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 12th. Stockholders of record on Monday, February 26th were issued a $0.62 dividend. This represents a $2.48 annualized dividend and a dividend yield of 0.97%. The ex-dividend date of this dividend was Friday, February 23rd. CDW’s dividend payout ratio is 30.62%.

CDW announced that its board has authorized a share buyback program on Wednesday, February 7th that permits the company to buyback $750.00 million in shares. This buyback authorization permits the information technology services provider to purchase up to 2.4% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its stock is undervalued.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Morgan Stanley cut shares of CDW from an “overweight” rating to an “equal weight” rating and set a $216.00 target price on the stock. in a research note on Tuesday, December 12th. Barclays boosted their target price on CDW from $219.00 to $261.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 8th. JPMorgan Chase & Co. lifted their price target on CDW from $253.00 to $267.00 and gave the company an “overweight” rating in a research report on Thursday, February 8th. Finally, Evercore ISI lifted their target price on shares of CDW from $250.00 to $300.00 and gave the company an “outperform” rating in a research report on Friday. Four analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $228.60.

Check Out Our Latest Analysis on CDW

CDW Profile

(Free Report)

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.

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Institutional Ownership by Quarter for CDW (NASDAQ:CDW)

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