Kestra Private Wealth Services LLC Takes Position in CDW Co. (NASDAQ:CDW)

Kestra Private Wealth Services LLC purchased a new stake in CDW Co. (NASDAQ:CDW) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 1,824 shares of the information technology services provider’s stock, valued at approximately $415,000.

A number of other hedge funds also recently made changes to their positions in the stock. Scotia Capital Inc. boosted its stake in shares of CDW by 1.5% in the 3rd quarter. Scotia Capital Inc. now owns 3,495 shares of the information technology services provider’s stock valued at $705,000 after purchasing an additional 50 shares in the last quarter. Diversified Trust Co boosted its position in CDW by 4.6% during the 4th quarter. Diversified Trust Co now owns 1,157 shares of the information technology services provider’s stock worth $263,000 after buying an additional 51 shares during the period. Phoenix Holdings Ltd. boosted its position in CDW by 4.3% during the 3rd quarter. Phoenix Holdings Ltd. now owns 1,262 shares of the information technology services provider’s stock worth $257,000 after buying an additional 52 shares during the period. Fidelis Capital Partners LLC boosted its position in CDW by 4.5% during the 4th quarter. Fidelis Capital Partners LLC now owns 1,229 shares of the information technology services provider’s stock worth $279,000 after buying an additional 53 shares during the period. Finally, Contravisory Investment Management Inc. boosted its position in CDW by 2.1% during the 4th quarter. Contravisory Investment Management Inc. now owns 2,731 shares of the information technology services provider’s stock worth $621,000 after buying an additional 56 shares during the period. 93.15% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently commented on CDW. JPMorgan Chase & Co. cut their target price on shares of CDW from $280.00 to $265.00 and set an “overweight” rating on the stock in a research report on Thursday, May 2nd. Stifel Nicolaus cut their target price on shares of CDW from $265.00 to $250.00 and set a “buy” rating on the stock in a research report on Thursday, May 2nd. Evercore ISI lifted their target price on shares of CDW from $250.00 to $300.00 and gave the stock an “outperform” rating in a research report on Friday, March 22nd. Citigroup cut their target price on shares of CDW from $295.00 to $260.00 and set a “buy” rating on the stock in a research report on Thursday, May 2nd. Finally, Barclays dropped their price target on shares of CDW from $261.00 to $232.00 and set an “equal weight” rating on the stock in a research report on Thursday, May 2nd. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, CDW currently has an average rating of “Moderate Buy” and a consensus target price of $247.50.

CDW Stock Performance

NASDAQ:CDW opened at $221.82 on Tuesday. The company has a fifty day moving average of $245.18 and a 200-day moving average of $229.60. The firm has a market capitalization of $29.81 billion, a P/E ratio of 27.69, a P/E/G ratio of 3.16 and a beta of 1.09. The company has a quick ratio of 1.13, a current ratio of 1.26 and a debt-to-equity ratio of 2.35. CDW Co. has a twelve month low of $164.62 and a twelve month high of $263.37.

CDW (NASDAQ:CDW) last released 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 company had revenue of $5.02 billion during the quarter, compared to analyst estimates of $5.32 billion. CDW had a net margin of 5.16% and a return on equity of 67.56%. CDW’s revenue for the quarter was down 7.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.40 EPS. As a group, sell-side analysts anticipate that CDW Co. will post 9.89 EPS for the current year.

CDW Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 11th. Stockholders of record on Friday, May 24th will be paid a $0.62 dividend. The ex-dividend date is Thursday, May 23rd. This represents a $2.48 annualized dividend and a dividend yield of 1.12%. CDW’s dividend payout ratio is currently 30.96%.

CDW announced that its Board of Directors has approved a share buyback plan on Wednesday, February 7th that allows the company to buyback $750.00 million in shares. This buyback authorization allows the information technology services provider to reacquire up to 2.4% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.

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.