CDW Co. (NASDAQ:CDW) Shares Purchased by Telemus Capital LLC

Telemus Capital LLC increased its position in shares of CDW Co. (NASDAQ:CDW) by 1.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 41,016 shares of the information technology services provider’s stock after purchasing an additional 590 shares during the period. Telemus Capital LLC’s holdings in CDW were worth $9,324,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. OFI Invest Asset Management purchased a new position in shares of CDW in the third quarter valued at approximately $25,000. VisionPoint Advisory Group LLC purchased a new position in shares of CDW in the third quarter valued at approximately $28,000. TFC Financial Management Inc. boosted its stake in shares of CDW by 61.1% in the third quarter. TFC Financial Management Inc. now owns 145 shares of the information technology services provider’s stock valued at $29,000 after purchasing an additional 55 shares during the period. ORG Partners LLC purchased a new position in shares of CDW in the fourth quarter valued at approximately $36,000. Finally, Oakworth Capital Inc. purchased a new position in shares of CDW in the fourth quarter valued at approximately $36,000. 93.15% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Evercore ISI lifted their price target on shares of CDW from $250.00 to $300.00 and gave the stock an “outperform” rating in a research note on Friday, March 22nd. Citigroup lifted their price target on shares of CDW from $255.00 to $295.00 and gave the stock a “buy” rating in a research note on Thursday, April 4th. Barclays lifted their price target on shares of CDW from $219.00 to $261.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 8th. Finally, JPMorgan Chase & Co. lifted their price target on shares of CDW from $267.00 to $280.00 and gave the stock an “overweight” rating in a research note on Thursday, April 11th. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, CDW currently has an average rating of “Moderate Buy” and an average target price of $242.67.

CDW Stock Performance

Shares of CDW opened at $237.64 on Tuesday. The company has a 50-day simple moving average of $247.13 and a 200-day simple moving average of $227.87. 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 Co. has a 52-week low of $162.59 and a 52-week high of $263.37. The company has a market capitalization of $31.93 billion, a PE ratio of 29.34, a P/E/G ratio of 2.67 and a beta of 1.09.

CDW (NASDAQ:CDW) last posted its quarterly earnings data on Wednesday, February 7th. The information technology services provider reported $2.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.56 by $0.01. CDW had a net margin of 5.17% and a return on equity of 73.93%. The company had revenue of $5.02 billion for the quarter, compared to analyst estimates of $5.32 billion. During the same quarter last year, the firm posted $2.40 earnings per share. The business’s quarterly revenue was down 7.7% on a year-over-year basis. Equities research analysts predict that CDW Co. will post 9.89 earnings per share for the current fiscal year.

CDW declared that its Board of Directors has initiated 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 buy up to 2.4% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s board believes its stock is undervalued.

CDW Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 12th. Shareholders of record on Monday, February 26th were issued a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a yield of 1.04%. The ex-dividend date of this dividend was Friday, February 23rd. CDW’s dividend payout ratio is presently 30.62%.

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.