KLP Kapitalforvaltning AS Takes $7.94 Million Position in CDW Co. (NASDAQ:CDW)

KLP Kapitalforvaltning AS purchased a new position in CDW Co. (NASDAQ:CDW) during the fourth quarter, HoldingsChannel reports. The firm purchased 45,600 shares of the information technology services provider’s stock, valued at approximately $7,936,000.

Other institutional investors also recently added to or reduced their stakes in the company. Allworth Financial LP boosted its position in CDW by 39.7% in the 4th 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. Summit Trail Advisors LLC lifted its holdings in shares of CDW by 1.4% in the 4th quarter. Summit Trail Advisors LLC now owns 4,040 shares of the information technology services provider’s stock worth $703,000 after buying an additional 56 shares during the period. Parkside Financial Bank & Trust lifted its stake in CDW by 38.9% in the fourth 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. Fulcrum Equity Management raised its holdings in shares of CDW by 4.3% in the 3rd quarter. Fulcrum Equity Management now owns 1,442 shares of the information technology services provider’s stock valued at $326,000 after purchasing an additional 60 shares in the last quarter. Finally, Jacobi Capital Management LLC lifted its position in shares of CDW by 4.5% in the 4th quarter. Jacobi Capital Management LLC now owns 1,428 shares of the information technology services provider’s stock worth $248,000 after purchasing an additional 61 shares during the period. Hedge funds and other institutional investors own 93.15% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on CDW shares. UBS Group cut 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. Morgan Stanley boosted their price target on CDW from $193.00 to $201.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 6th. Finally, Barclays upped their price objective 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 investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, CDW currently has a consensus rating of “Moderate Buy” and a consensus target price of $235.50.

CDW Stock Performance

Shares of CDW opened at $170.31 on Tuesday. The company has a current ratio of 1.35, a quick ratio of 1.24 and a debt-to-equity ratio of 2.38. The firm has a market cap of $22.56 billion, a PE ratio of 21.37, a P/E/G ratio of 3.21 and a beta of 1.01. CDW Co. has a 12 month low of $162.84 and a 12 month high of $263.37. The stock has a fifty day moving average price of $184.19 and a 200-day moving average price of $192.73.

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

CDW Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 11th. Investors of record on Tuesday, February 25th were paid a $0.625 dividend. This represents a $2.50 dividend on an annualized basis and a yield of 1.47%. The ex-dividend date of this dividend was Tuesday, February 25th. CDW’s dividend payout ratio (DPR) is presently 31.37%.

CDW declared that its board has initiated a share buyback program on Wednesday, February 5th that authorizes the company to repurchase $750.00 million in shares. This repurchase authorization authorizes the information technology services provider to buy 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 Company 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.