CDW Co. (NASDAQ:CDW) Shares Purchased by Harvest Fund Management Co. Ltd

Harvest Fund Management Co. Ltd grew its stake in CDW Co. (NASDAQ:CDW) by 156.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,928 shares of the information technology services provider’s stock after acquiring an additional 1,177 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in CDW were worth $438,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. OFI Invest Asset Management acquired a new stake in shares of CDW in the third quarter valued at about $25,000. Larson Financial Group LLC acquired a new position in shares of CDW during the fourth quarter valued at about $30,000. VisionPoint Advisory Group LLC bought a new stake in shares of CDW in the 3rd quarter worth approximately $28,000. TFC Financial Management Inc. grew its holdings in shares of CDW by 61.1% in the 3rd quarter. TFC Financial Management Inc. now owns 145 shares of the information technology services provider’s stock worth $29,000 after purchasing an additional 55 shares during the last quarter. Finally, ORG Partners LLC bought a new position in CDW during the fourth quarter worth about $36,000. 93.15% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have weighed in on CDW. Barclays increased their target price on shares of CDW from $219.00 to $261.00 and gave the stock an “equal weight” rating in a report on Thursday, February 8th. JPMorgan Chase & Co. lifted their target price on CDW from $267.00 to $280.00 and gave the stock an “overweight” rating in a research note on Thursday, April 11th. Citigroup boosted their price objective on CDW from $255.00 to $295.00 and gave the company a “buy” rating in a research note on Thursday, April 4th. Finally, Evercore ISI raised 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. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, CDW presently has an average rating of “Moderate Buy” and an average target price of $242.67.

CDW Stock Up 0.1 %

CDW traded up $0.22 during trading on Wednesday, reaching $240.69. 447,618 shares of the stock traded hands, compared to its average volume of 695,862. The stock has a market cap of $32.34 billion, a price-to-earnings ratio of 29.74, a price-to-earnings-growth ratio of 2.69 and a beta of 1.09. The company has a debt-to-equity ratio of 2.46, a current ratio of 1.23 and a quick ratio of 1.11. CDW Co. has a fifty-two week low of $162.59 and a fifty-two week high of $263.37. The stock’s 50-day simple moving average is $247.19 and its two-hundred day simple moving average is $228.12.

CDW (NASDAQ:CDW) last posted its earnings results 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 business had revenue of $5.02 billion for the quarter, compared to analyst estimates of $5.32 billion. During the same period last year, the business posted $2.40 EPS. CDW’s revenue was down 7.7% compared to the same quarter last year. As a group, equities research analysts expect that CDW Co. will post 9.89 EPS for the current year.

CDW Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 12th. Shareholders of record on Monday, February 26th were given a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a dividend yield of 1.03%. The ex-dividend date of this dividend was Friday, February 23rd. CDW’s payout ratio is 30.62%.

CDW declared that its Board of Directors has initiated a share buyback program 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 buy up to 2.4% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its shares are 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.