Arcadia Investment Management Corp MI Invests $174,000 in CDW Co. (NASDAQ:CDW)

Arcadia Investment Management Corp MI bought a new position in CDW Co. (NASDAQ:CDW) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 1,000 shares of the information technology services provider’s stock, valued at approximately $174,000.

Other institutional investors have also recently made changes to their positions in the company. Allworth Financial LP grew its position in CDW by 39.7% during the fourth quarter. Allworth Financial LP now owns 183 shares of the information technology services provider’s stock valued at $32,000 after buying an additional 52 shares during the period. Canoe Financial LP bought a new position in CDW during the third quarter valued at about $37,000. Fortitude Family Office LLC grew its position in CDW by 350.0% during the third quarter. Fortitude Family Office LLC now owns 171 shares of the information technology services provider’s stock valued at $39,000 after buying an additional 133 shares during the period. Ashton Thomas Securities LLC bought a new position in CDW during the third quarter valued at about $43,000. Finally, Covestor Ltd grew its position in CDW by 80.1% during the third quarter. Covestor Ltd now owns 245 shares of the information technology services provider’s stock valued at $55,000 after buying an additional 109 shares during the period. Institutional investors own 93.15% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Redburn Atlantic assumed coverage on shares of CDW in a research report on Friday, November 15th. They set a “buy” rating and a $230.00 price target for the company. Morgan Stanley increased their price target on shares of CDW from $193.00 to $201.00 and gave the company an “equal weight” rating in a research report on Thursday, February 6th. JPMorgan Chase & Co. lowered shares of CDW from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $260.00 to $235.00 in a research report on Monday, October 28th. Barclays upped their price objective 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. Finally, UBS Group dropped their price objective on shares of CDW from $233.00 to $220.00 and set a “buy” rating on the stock in a report on Tuesday, January 7th. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $242.67.

CDW Price Performance

NASDAQ CDW opened at $192.80 on Friday. The company has a market cap of $25.69 billion, a PE ratio of 24.19, a price-to-earnings-growth ratio of 3.21 and a beta of 1.01. CDW Co. has a 52 week low of $168.43 and a 52 week high of $263.37. The company has a quick ratio of 1.24, a current ratio of 1.35 and a debt-to-equity ratio of 2.38. The firm’s 50-day simple moving average is $185.94 and its two-hundred day simple moving average is $200.23.

CDW (NASDAQ:CDW) last announced its quarterly earnings results on Wednesday, February 5th. The information technology services provider reported $2.40 earnings per share (EPS) 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%. Research analysts predict that CDW Co. will post 9.41 earnings per share for the current year.

CDW announced that its Board of Directors has initiated a share repurchase program on Wednesday, February 5th that permits the company to repurchase $750.00 million in outstanding shares. This repurchase authorization permits the information technology services provider to purchase up to 2.7% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

CDW Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 11th. Stockholders of record on Tuesday, February 25th will be issued a $0.625 dividend. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.30%. The ex-dividend date of this dividend is Tuesday, February 25th. CDW’s payout ratio is 31.37%.

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.