Oakworth Capital Inc. Purchases Shares of 160 CDW Co. (NASDAQ:CDW)

Oakworth Capital Inc. acquired a new position in CDW Co. (NASDAQ:CDW) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 160 shares of the information technology services provider’s stock, valued at approximately $36,000.

Several other large investors have also recently modified their holdings of the stock. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in CDW by 6.4% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 25,350 shares of the information technology services provider’s stock valued at $5,763,000 after buying an additional 1,525 shares during the last quarter. Crescent Grove Advisors LLC boosted its holdings in shares of CDW by 6.6% during the fourth quarter. Crescent Grove Advisors LLC now owns 113,541 shares of the information technology services provider’s stock worth $25,810,000 after purchasing an additional 7,054 shares during the period. Capital Analysts LLC grew its stake in shares of CDW by 21.2% in the fourth quarter. Capital Analysts LLC now owns 406 shares of the information technology services provider’s stock worth $93,000 after purchasing an additional 71 shares during the last quarter. Carnegie Capital Asset Management LLC increased its holdings in CDW by 2.6% during the 4th quarter. Carnegie Capital Asset Management LLC now owns 5,095 shares of the information technology services provider’s stock valued at $1,158,000 after purchasing an additional 130 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. raised its position in CDW by 8.2% during the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 348,384 shares of the information technology services provider’s stock valued at $79,195,000 after purchasing an additional 26,529 shares during the last quarter. Hedge funds and other institutional investors own 93.15% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on CDW. Evercore ISI lifted their price objective on CDW from $250.00 to $300.00 and gave the stock an “outperform” rating in a research report on Friday, March 22nd. Citigroup raised their target price on shares of CDW from $255.00 to $295.00 and gave the stock a “buy” rating in a research report on Thursday, April 4th. JPMorgan Chase & Co. increased 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. Finally, Barclays lifted their price objective on CDW from $219.00 to $261.00 and gave the company an “equal weight” rating in a research report on Thursday, February 8th. Four analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $238.90.

CDW Stock Performance

CDW stock opened at $235.70 on Friday. CDW Co. has a 12-month low of $160.66 and a 12-month high of $263.37. The stock’s 50 day simple moving average is $247.41 and its 200 day simple moving average is $227.05. The stock has a market capitalization of $31.67 billion, a PE ratio of 29.10, a price-to-earnings-growth ratio of 2.68 and a beta of 1.09. The company has a current ratio of 1.23, a quick ratio of 1.11 and a debt-to-equity ratio of 2.46.

CDW (NASDAQ:CDW) last released its quarterly earnings data 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 5.17% and a return on equity of 73.93%. The firm had revenue of $5.02 billion during the quarter, compared to analysts’ expectations of $5.32 billion. During the same period in the previous year, the company earned $2.40 earnings per share. The firm’s quarterly revenue was down 7.7% on a year-over-year basis. As a group, research analysts forecast that CDW Co. will post 9.89 earnings per share for the current fiscal year.

CDW Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 12th. Stockholders of record on Monday, February 26th were issued a dividend of $0.62 per share. The ex-dividend date was Friday, February 23rd. This represents a $2.48 annualized dividend and a dividend yield of 1.05%. CDW’s payout ratio is 30.62%.

CDW declared that its Board of Directors has initiated a stock repurchase program on Wednesday, February 7th that permits the company to repurchase $750.00 million in outstanding shares. This repurchase authorization permits the information technology services provider to repurchase up to 2.4% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board believes its stock is 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.