Jacobi Capital Management LLC Acquires 61 Shares of CDW Co. (NASDAQ:CDW)

Jacobi Capital Management LLC raised its holdings in CDW Co. (NASDAQ:CDW) by 4.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,428 shares of the information technology services provider’s stock after purchasing an additional 61 shares during the quarter. Jacobi Capital Management LLC’s holdings in CDW were worth $248,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of CDW. PDS Planning Inc grew its stake in shares of CDW by 4.3% during the 3rd quarter. PDS Planning Inc now owns 1,186 shares of the information technology services provider’s stock worth $268,000 after acquiring an additional 49 shares during the period. Allworth Financial LP grew 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 worth $32,000 after acquiring an additional 52 shares during the period. Summit Trail Advisors LLC grew its stake in shares of CDW by 1.4% during the 4th quarter. Summit Trail Advisors LLC now owns 4,040 shares of the information technology services provider’s stock worth $703,000 after acquiring an additional 56 shares during the period. OneAscent Wealth Management LLC grew its stake in shares of CDW by 2.5% during the 3rd quarter. OneAscent Wealth Management LLC now owns 2,387 shares of the information technology services provider’s stock worth $540,000 after acquiring an additional 58 shares during the period. Finally, Parkside Financial Bank & Trust grew its stake in shares of CDW by 38.9% during the 4th quarter. Parkside Financial Bank & Trust now owns 207 shares of the information technology services provider’s stock worth $36,000 after acquiring an additional 58 shares during the period. Institutional investors own 93.15% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on CDW. Redburn Atlantic began coverage on CDW in a research note on Friday, November 15th. They set a “buy” rating and a $230.00 price target for the company. Morgan Stanley raised their target price on CDW from $193.00 to $201.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 6th. UBS Group cut their target price on CDW from $233.00 to $220.00 and set a “buy” rating for the company in a research note on Tuesday, January 7th. Finally, Barclays raised their target price on CDW from $201.00 to $223.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 6th. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, CDW presently has an average rating of “Moderate Buy” and an average price target of $242.67.

CDW Stock Performance

NASDAQ:CDW opened at $172.50 on Tuesday. The business’s 50-day moving average price is $186.80 and its two-hundred day moving average price is $198.81. CDW Co. has a twelve month low of $168.43 and a twelve month high of $263.37. The stock has a market cap of $22.85 billion, a P/E ratio of 21.64, a PEG ratio of 3.21 and a beta of 1.01. The company has a quick ratio of 1.24, a current ratio of 1.35 and a debt-to-equity ratio of 2.38.

CDW (NASDAQ:CDW) last released its quarterly earnings results on Wednesday, February 5th. The information technology services provider reported $2.40 earnings per share for the quarter, beating the consensus estimate of $2.33 by $0.07. CDW had a return on equity of 55.42% and a net margin of 5.13%. As a group, equities analysts predict that CDW Co. will post 9.41 EPS for the current fiscal year.

CDW Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 11th. Investors of record on Tuesday, February 25th will be issued a dividend of $0.625 per share. The ex-dividend date of this dividend is Tuesday, February 25th. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.45%. CDW’s dividend payout ratio is 31.37%.

CDW declared that its Board of Directors has authorized a share buyback plan on Wednesday, February 5th that permits the company to buyback $750.00 million in outstanding shares. This buyback authorization permits the information technology services provider to repurchase up to 2.7% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s management 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.