Optiver Holding B.V. Acquires 119 Shares of CDW Co. (NASDAQ:CDW)

Optiver Holding B.V. raised its holdings in shares of CDW Co. (NASDAQ:CDW) by 107.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 230 shares of the information technology services provider’s stock after acquiring an additional 119 shares during the quarter. Optiver Holding B.V.’s holdings in CDW were worth $40,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in CDW. Allworth Financial LP raised its stake in shares of CDW by 39.7% during the 4th quarter. Allworth Financial LP now owns 183 shares of the information technology services provider’s stock valued at $32,000 after purchasing an additional 52 shares during the period. OFI Invest Asset Management bought a new stake in shares of CDW during the fourth quarter valued at about $32,000. Parkside Financial Bank & Trust boosted its position in shares of CDW by 38.9% in the fourth quarter. Parkside Financial Bank & Trust now owns 207 shares of the information technology services provider’s stock valued at $36,000 after acquiring an additional 58 shares during the period. Canoe Financial LP grew its stake in CDW by 68.3% during the fourth quarter. Canoe Financial LP now owns 276 shares of the information technology services provider’s stock valued at $48,000 after acquiring an additional 112 shares in the last quarter. Finally, Quarry LP purchased a new position in CDW during the fourth quarter valued at approximately $48,000. Hedge funds and other institutional investors own 93.15% of the company’s stock.

CDW Stock Performance

NASDAQ:CDW opened at $159.96 on Wednesday. The company has a market capitalization of $21.08 billion, a price-to-earnings ratio of 20.07, a PEG ratio of 3.21 and a beta of 0.97. The business has a 50 day moving average of $162.78 and a 200 day moving average of $180.22. The company has a debt-to-equity ratio of 2.38, a current ratio of 1.35 and a quick ratio of 1.24. CDW Co. has a 1-year low of $137.31 and a 1-year high of $248.12.

CDW (NASDAQ:CDW) last announced its quarterly earnings data on Wednesday, February 5th. The information technology services provider reported $2.40 earnings per share for the quarter, topping analysts’ consensus estimates of $2.33 by $0.07. CDW had a net margin of 5.13% and a return on equity of 55.42%. On average, sell-side analysts predict that CDW Co. will post 9.41 earnings per share for the current fiscal year.

CDW announced that its Board of Directors has authorized a stock repurchase plan on Wednesday, February 5th that authorizes the company to buyback $750.00 million in shares. This buyback authorization authorizes the information technology services provider to purchase up to 2.7% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

CDW Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 11th. Stockholders of record on Tuesday, February 25th were paid a dividend of $0.625 per share. The ex-dividend date was Tuesday, February 25th. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.56%. CDW’s dividend payout ratio (DPR) is currently 31.37%.

Analysts Set New Price Targets

Several brokerages have commented on CDW. Barclays raised their price target on shares of CDW from $201.00 to $223.00 and gave the company an “equal weight” rating in a report on Thursday, February 6th. UBS Group reduced their target price on CDW from $233.00 to $220.00 and set a “buy” rating for the company in a research report on Tuesday, January 7th. Citigroup decreased their target price on CDW from $220.00 to $160.00 and set a “neutral” rating on the stock in a research note on Monday, April 14th. JPMorgan Chase & Co. dropped their price target on CDW from $222.00 to $175.00 and set a “neutral” rating for the company in a research report on Thursday, April 17th. Finally, Morgan Stanley upped their price objective on shares of CDW from $193.00 to $201.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 6th. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $217.38.

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.