CDW Co. (NASDAQ:CDW) Holdings Boosted by New York Life Investment Management LLC

New York Life Investment Management LLC lifted its holdings in CDW Co. (NASDAQ:CDW) by 0.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 21,060 shares of the information technology services provider’s stock after buying an additional 119 shares during the period. New York Life Investment Management LLC’s holdings in CDW were worth $4,787,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of CDW. OFI Invest Asset Management purchased a new position in CDW in the third quarter valued at about $25,000. VisionPoint Advisory Group LLC bought a new stake in shares of CDW in the 3rd quarter valued at approximately $28,000. Larson Financial Group LLC acquired a new position in CDW in the fourth quarter worth approximately $30,000. Orion Capital Management LLC acquired a new stake in CDW in the third quarter valued at approximately $35,000. Finally, ORG Partners LLC bought a new stake in CDW in the fourth quarter worth approximately $36,000. 93.15% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on CDW shares. JPMorgan Chase & Co. lowered 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. 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. 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. Stifel Nicolaus lowered their target price on shares of CDW from $265.00 to $250.00 and set a “buy” rating on the stock in a research note on Thursday. Finally, Citigroup cut their target price on shares of CDW from $295.00 to $260.00 and set a “buy” rating for the company in a research report on Thursday. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $235.50.

CDW Stock Up 0.5 %

NASDAQ CDW opened at $219.56 on Friday. CDW Co. has a twelve month low of $162.59 and a twelve month high of $263.37. The company has a debt-to-equity ratio of 2.35, a quick ratio of 1.11 and a current ratio of 1.26. The stock has a market cap of $29.51 billion, a PE ratio of 27.41, a PEG ratio of 2.47 and a beta of 1.09. The firm has a 50-day simple moving average of $245.67 and a 200 day simple moving average of $229.16.

CDW (NASDAQ:CDW) last posted its quarterly earnings results on Wednesday, February 7th. The information technology services provider reported $2.57 earnings per share for the quarter, topping analysts’ consensus estimates of $2.56 by $0.01. The firm had revenue of $5.02 billion for the quarter, compared to the consensus estimate of $5.32 billion. CDW had a net margin of 5.16% and a return on equity of 67.56%. The business’s revenue was down 7.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.40 earnings per share. On average, research analysts forecast that CDW Co. will post 9.89 EPS for the current year.

CDW announced that its Board of Directors has initiated a share repurchase 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 buy up to 2.4% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s leadership believes its stock is undervalued.

CDW Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 11th. Shareholders of record on Friday, May 24th will be paid a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a yield of 1.13%. The ex-dividend date of this dividend is Thursday, May 23rd. CDW’s dividend payout ratio is 30.96%.

CDW 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.