Vestmark Advisory Solutions Inc. Acquires 2,129 Shares of CDW Co. (NASDAQ:CDW)

Vestmark Advisory Solutions Inc. grew its holdings in CDW Co. (NASDAQ:CDW) by 107.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,110 shares of the information technology services provider’s stock after acquiring an additional 2,129 shares during the quarter. Vestmark Advisory Solutions Inc.’s holdings in CDW were worth $934,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of CDW. Raymond James Financial Services Advisors Inc. raised its position in shares of CDW by 16.1% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 49,011 shares of the information technology services provider’s stock worth $11,141,000 after acquiring an additional 6,799 shares during the last quarter. Cerity Partners LLC lifted its stake in shares of CDW by 44.9% in the 4th quarter. Cerity Partners LLC now owns 14,553 shares of the information technology services provider’s stock valued at $3,308,000 after acquiring an additional 4,511 shares during the last quarter. Pacer Advisors Inc. lifted its stake in shares of CDW by 84.9% in the 4th quarter. Pacer Advisors Inc. now owns 15,924 shares of the information technology services provider’s stock valued at $3,620,000 after acquiring an additional 7,310 shares during the last quarter. JGP Wealth Management LLC purchased a new position in CDW during the 4th quarter valued at about $1,559,000. Finally, California Public Employees Retirement System grew its holdings in shares of CDW by 1.0% during the 3rd quarter. California Public Employees Retirement System now owns 819,011 shares of the information technology services provider’s stock worth $165,244,000 after acquiring an additional 7,854 shares during the period. 93.15% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CDW has been the topic of several research analyst reports. JPMorgan Chase & Co. lowered their price target on CDW from $280.00 to $265.00 and set an “overweight” rating on the stock in a report on Thursday. Barclays decreased 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 note on Thursday. Stifel Nicolaus dropped their target price on shares of CDW from $265.00 to $250.00 and set a “buy” rating on the stock in a report on Thursday. Evercore ISI increased their price objective on shares of CDW from $250.00 to $300.00 and gave the company an “outperform” rating in a research report on Friday, March 22nd. Finally, Citigroup decreased 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. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, CDW has a consensus rating of “Moderate Buy” and a consensus price target of $247.50.

CDW Price Performance

Shares of CDW stock traded up $0.89 during trading hours on Monday, hitting $220.45. 24,947 shares of the company’s stock were exchanged, compared to its average volume of 714,220. The stock’s 50-day moving average is $245.67 and its 200-day moving average is $229.47. The stock has a market cap of $29.63 billion, a price-to-earnings ratio of 27.41, a price-to-earnings-growth ratio of 3.16 and a beta of 1.09. CDW Co. has a 52 week low of $164.62 and a 52 week high of $263.37. The company has a debt-to-equity ratio of 2.35, a current ratio of 1.26 and a quick ratio of 1.13.

CDW (NASDAQ:CDW) last released 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. CDW had a net margin of 5.16% and a return on equity of 67.56%. The business had revenue of $5.02 billion during the quarter, compared to analysts’ expectations of $5.32 billion. During the same period last year, the business earned $2.40 earnings per share. The firm’s revenue was down 7.7% on a year-over-year basis. As a group, research analysts forecast that CDW Co. will post 9.89 EPS for the current year.

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 $0.62 dividend. This represents a $2.48 annualized dividend and a yield of 1.12%. The ex-dividend date is Thursday, May 23rd. CDW’s dividend payout ratio (DPR) is presently 30.96%.

CDW declared that its Board of Directors has authorized a stock repurchase plan 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 shares through open market purchases. Shares buyback plans are usually an indication that the company’s management 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.