Community Bank N.A. Makes New $202,000 Investment in CDW Co. (NASDAQ:CDW)

Community Bank N.A. acquired a new position in shares of CDW Co. (NASDAQ:CDW) during the fourth quarter, HoldingsChannel.com reports. The fund acquired 890 shares of the information technology services provider’s stock, valued at approximately $202,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of CDW. Tokio Marine Asset Management Co. Ltd. increased its holdings in CDW by 7.7% in the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 3,399 shares of the information technology services provider’s stock valued at $773,000 after buying an additional 244 shares during the last quarter. Harvest Fund Management Co. Ltd increased its holdings in CDW by 156.7% in the fourth quarter. Harvest Fund Management Co. Ltd now owns 1,928 shares of the information technology services provider’s stock valued at $438,000 after buying an additional 1,177 shares during the last quarter. Wolverine Asset Management LLC increased its holdings in CDW by 115.2% in the fourth quarter. Wolverine Asset Management LLC now owns 1,988 shares of the information technology services provider’s stock valued at $452,000 after buying an additional 15,100 shares during the last quarter. GAMMA Investing LLC bought a new stake in CDW in the fourth quarter valued at about $334,000. Finally, Larson Financial Group LLC bought a new position in shares of CDW during the fourth quarter valued at approximately $30,000. Institutional investors and hedge funds own 93.15% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Citigroup boosted their price objective on CDW from $255.00 to $295.00 and gave the stock a “buy” rating in a research report on Thursday, April 4th. Barclays boosted their price objective 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. boosted their price objective on CDW from $267.00 to $280.00 and gave the stock an “overweight” rating in a research report on Thursday, April 11th. Finally, Evercore ISI upped 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. Based on data from MarketBeat, CDW presently has a consensus rating of “Moderate Buy” and a consensus price target of $242.67.

CDW Stock Up 1.3 %

Shares of CDW traded up $3.03 during mid-day trading on Thursday, reaching $243.72. The company’s stock had a trading volume of 262,217 shares, compared to its average volume of 690,252. The business has a fifty day moving average of $247.22 and a 200 day moving average of $228.20. The company has a market cap of $32.75 billion, a price-to-earnings ratio of 29.59, a price-to-earnings-growth ratio of 2.72 and a beta of 1.09. CDW Co. has a 1 year low of $162.59 and a 1 year high of $263.37. 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 (NASDAQ:CDW) last announced its quarterly earnings data on Wednesday, February 7th. The information technology services provider reported $2.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.56 by $0.01. CDW had a return on equity of 73.93% and a net margin of 5.17%. The business had revenue of $5.02 billion during the quarter, compared to analyst estimates of $5.32 billion. During the same period last year, the company earned $2.40 earnings per share. CDW’s quarterly revenue was down 7.7% compared to the same quarter last year. As a group, analysts forecast that CDW Co. will post 9.89 earnings per share for the current fiscal year.

CDW Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 12th. Shareholders of record on Monday, February 26th were issued a dividend of $0.62 per share. The ex-dividend date of this dividend was Friday, February 23rd. This represents a $2.48 annualized dividend and a yield of 1.02%. CDW’s dividend payout ratio (DPR) is currently 30.62%.

CDW declared that its board has authorized a stock buyback plan on Wednesday, February 7th that authorizes the company to buyback $750.00 million in outstanding shares. This buyback authorization authorizes the information technology services provider to repurchase up to 2.4% of its stock through open market purchases. Stock buyback plans are usually an indication 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.