RWA Wealth Partners LLC Buys Shares of 1,092 CDW Co. (NASDAQ:CDW)

RWA Wealth Partners LLC acquired a new position in CDW Co. (NASDAQ:CDW) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 1,092 shares of the information technology services provider’s stock, valued at approximately $248,000.

A number of other institutional investors have also made changes to their positions in the business. Northern Trust Corp increased its stake in shares of CDW by 1.6% in the third quarter. Northern Trust Corp now owns 1,331,127 shares of the information technology services provider’s stock worth $268,568,000 after purchasing an additional 20,345 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its stake in shares of CDW by 3.3% in the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 1,315,983 shares of the information technology services provider’s stock worth $265,513,000 after purchasing an additional 41,472 shares during the period. Barclays PLC increased its stake in shares of CDW by 2.1% in the third quarter. Barclays PLC now owns 1,016,132 shares of the information technology services provider’s stock worth $205,014,000 after purchasing an additional 20,934 shares during the period. American Century Companies Inc. increased its stake in shares of CDW by 2.5% in the third quarter. American Century Companies Inc. now owns 832,548 shares of the information technology services provider’s stock worth $167,975,000 after purchasing an additional 20,152 shares during the period. Finally, California Public Employees Retirement System increased its stake in shares of CDW by 1.0% in the third quarter. California Public Employees Retirement System now owns 819,011 shares of the information technology services provider’s stock worth $165,244,000 after purchasing an additional 7,854 shares during the period. 93.15% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on CDW. Citigroup lifted their target price on CDW from $255.00 to $295.00 and gave the stock a “buy” rating in a research report on Thursday, April 4th. JPMorgan Chase & Co. lifted their target price on CDW from $267.00 to $280.00 and gave the stock an “overweight” rating in a research report on Thursday, April 11th. Barclays lifted 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. Finally, Evercore ISI lifted their target price on CDW from $250.00 to $300.00 and gave the stock an “outperform” rating in a research report on Friday, March 22nd. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $242.67.

CDW Stock Down 0.5 %

NASDAQ CDW opened at $242.26 on Friday. 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 stock’s 50 day moving average is $247.23 and its two-hundred day moving average is $228.31. The company has a market capitalization 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 Co. has a 1-year low of $162.59 and a 1-year high of $263.37.

CDW (NASDAQ:CDW) last announced its earnings results on Wednesday, February 7th. The information technology services provider reported $2.57 EPS for the quarter, topping the consensus estimate of $2.56 by $0.01. The business had revenue of $5.02 billion for the quarter, compared to the consensus estimate of $5.32 billion. CDW had a return on equity of 73.93% and a net margin of 5.17%. CDW’s revenue was down 7.7% compared to the same quarter last year. During the same period in the previous year, the business earned $2.40 EPS. Equities analysts forecast that CDW Co. will post 9.89 earnings per share for the current fiscal year.

CDW Dividend Announcement

The firm 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 1.02%. The ex-dividend date was Friday, February 23rd. CDW’s payout ratio is currently 30.62%.

CDW declared that its Board of Directors has approved a stock repurchase program on Wednesday, February 7th that allows the company to repurchase $750.00 million in outstanding shares. This repurchase authorization allows the information technology services provider to repurchase up to 2.4% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.

About CDW

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.