FineMark National Bank & Trust Buys 26,161 Shares of CDW Co. (NASDAQ:CDW)

FineMark National Bank & Trust grew its stake in shares of CDW Co. (NASDAQ:CDW) by 46.0% in the 4th quarter, HoldingsChannel reports. The fund owned 83,078 shares of the information technology services provider’s stock after purchasing an additional 26,161 shares during the quarter. FineMark National Bank & Trust’s holdings in CDW were worth $14,459,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. Allworth Financial LP lifted 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 worth $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 4th quarter worth approximately $32,000. Parkside Financial Bank & Trust boosted its position 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 in the last quarter. Canoe Financial LP increased its stake in CDW by 68.3% in 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 during the last quarter. Finally, ORG Wealth Partners LLC acquired a new position in CDW during the fourth quarter valued at approximately $69,000. Institutional investors own 93.15% of the company’s stock.

CDW Trading Up 2.9 %

NASDAQ CDW opened at $170.31 on Tuesday. CDW Co. has a 52 week low of $162.84 and a 52 week high of $263.37. The business has a 50 day moving average price of $184.19 and a 200-day moving average price of $192.73. 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 company has a market cap of $22.56 billion, a price-to-earnings ratio of 21.37, a P/E/G ratio of 3.21 and a beta of 1.01.

CDW (NASDAQ:CDW) last released its quarterly earnings results on Wednesday, February 5th. The information technology services provider reported $2.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 expect that CDW Co. will post 9.41 earnings per share for the current fiscal year.

CDW Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 11th. Stockholders of record on Tuesday, February 25th were paid a $0.625 dividend. The ex-dividend date was Tuesday, February 25th. This represents a $2.50 annualized dividend and a dividend yield of 1.47%. CDW’s payout ratio is 31.37%.

CDW announced that its Board of Directors has initiated a share buyback program on Wednesday, February 5th that permits the company to repurchase $750.00 million in 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 often a sign that the company’s board believes its stock is undervalued.

Analysts Set New Price Targets

CDW has been the topic of several research analyst reports. Barclays raised their price objective on CDW from $201.00 to $223.00 and gave the company an “equal weight” rating in a research note on Thursday, February 6th. UBS Group reduced their price target on shares of CDW from $233.00 to $220.00 and set a “buy” rating on the stock in a research note on Tuesday, January 7th. 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. According to data from MarketBeat.com, CDW has a consensus rating of “Moderate Buy” and an average price target of $235.50.

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.