Telemus Capital LLC Acquires 590 Shares of CDW Co. (NASDAQ:CDW)

Telemus Capital LLC raised its position in CDW Co. (NASDAQ:CDW) by 1.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 41,016 shares of the information technology services provider’s stock after buying an additional 590 shares during the quarter. Telemus Capital LLC’s holdings in CDW were worth $9,324,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in CDW. CWM LLC grew its position in shares of CDW by 2.1% in the third quarter. CWM LLC now owns 5,201 shares of the information technology services provider’s stock valued at $1,049,000 after purchasing an additional 105 shares in the last quarter. DnB Asset Management AS grew its position in CDW by 3.3% during the third quarter. DnB Asset Management AS now owns 36,869 shares of the information technology services provider’s stock worth $7,439,000 after buying an additional 1,186 shares in the last quarter. HB Wealth Management LLC grew its position in CDW by 32.7% during the third quarter. HB Wealth Management LLC now owns 1,783 shares of the information technology services provider’s stock worth $360,000 after buying an additional 439 shares in the last quarter. Capital Investment Advisors LLC grew its position in CDW by 35.5% during the third quarter. Capital Investment Advisors LLC now owns 1,546 shares of the information technology services provider’s stock worth $312,000 after buying an additional 405 shares in the last quarter. Finally, Eastern Bank grew its position in CDW by 1.6% during the third quarter. Eastern Bank now owns 10,947 shares of the information technology services provider’s stock worth $2,209,000 after buying an additional 173 shares in the last quarter. 93.15% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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

CDW Trading Up 0.8 %

CDW opened at $237.64 on Tuesday. The business has a 50 day simple moving average of $247.13 and a two-hundred day simple moving average of $227.87. 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 one year low of $162.59 and a one year high of $263.37. The firm has a market capitalization of $31.93 billion, a price-to-earnings ratio of 29.34, a PEG ratio of 2.67 and a beta of 1.09.

CDW (NASDAQ:CDW) last issued its earnings results on Wednesday, February 7th. The information technology services provider reported $2.57 EPS for the quarter, beating the consensus estimate of $2.56 by $0.01. CDW had a return on equity of 73.93% and a net margin of 5.17%. The business had revenue of $5.02 billion for the quarter, compared to the consensus estimate of $5.32 billion. During the same period last year, the business posted $2.40 EPS. The company’s revenue was down 7.7% compared to the same quarter last year. Analysts predict that CDW Co. will post 9.89 EPS for the current year.

CDW Dividend Announcement

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

CDW declared that its board has authorized a stock repurchase plan on Wednesday, February 7th that permits the company to buyback $750.00 million in outstanding 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 generally a sign that the company’s board of directors believes its shares are undervalued.

CDW 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.