NEOS Investment Management LLC Boosts Stock Holdings in CDW Co. (NASDAQ:CDW)

NEOS Investment Management LLC boosted its stake in CDW Co. (NASDAQ:CDW) by 20.4% during the 4th quarter, Holdings Channel reports. The firm owned 14,751 shares of the information technology services provider’s stock after buying an additional 2,499 shares during the quarter. NEOS Investment Management LLC’s holdings in CDW were worth $2,567,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in CDW. Brooklyn Investment Group bought a new position in shares of CDW during the 3rd quarter valued at approximately $90,000. BNP Paribas Financial Markets lifted its position in CDW by 6.5% during the third quarter. BNP Paribas Financial Markets now owns 241,781 shares of the information technology services provider’s stock valued at $54,715,000 after purchasing an additional 14,817 shares during the last quarter. Townsquare Capital LLC grew its stake in shares of CDW by 9.9% in the 3rd quarter. Townsquare Capital LLC now owns 17,650 shares of the information technology services provider’s stock worth $3,994,000 after buying an additional 1,589 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its holdings in shares of CDW by 667.9% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 95,393 shares of the information technology services provider’s stock worth $21,587,000 after buying an additional 82,970 shares during the last quarter. Finally, Fiduciary Trust Co raised its position in shares of CDW by 109.7% during the 3rd quarter. Fiduciary Trust Co now owns 3,874 shares of the information technology services provider’s stock valued at $877,000 after buying an additional 2,027 shares in the last quarter. Institutional investors own 93.15% of the company’s stock.

Analysts Set New Price Targets

CDW has been the subject of several recent research reports. UBS Group dropped their price target on CDW from $233.00 to $220.00 and set a “buy” rating for the company in a research report on Tuesday, January 7th. Barclays boosted their target price on CDW from $201.00 to $223.00 and gave the company an “equal weight” rating in a research report on Thursday, February 6th. Finally, Morgan Stanley raised 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. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, CDW presently has an average rating of “Moderate Buy” and an average target price of $235.50.

CDW Price Performance

CDW opened at $161.51 on Friday. 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 business has a fifty day moving average of $182.40 and a 200 day moving average of $191.68. CDW Co. has a 52-week low of $160.96 and a 52-week high of $263.37. The stock has a market cap of $21.40 billion, a P/E ratio of 20.26, a PEG ratio of 3.21 and a beta of 1.01.

CDW (NASDAQ:CDW) last posted its quarterly earnings results on Wednesday, February 5th. The information technology services provider reported $2.40 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%. As a group, sell-side analysts anticipate that CDW Co. will post 9.41 EPS for the current year.

CDW declared that its board has approved a stock repurchase program 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 purchase up to 2.7% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s leadership believes its stock is undervalued.

CDW Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 11th. Stockholders of record on Tuesday, February 25th were given a dividend of $0.625 per share. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.55%. The ex-dividend date of this dividend was Tuesday, February 25th. CDW’s dividend payout ratio (DPR) is presently 31.37%.

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.