Distillate Capital Partners LLC Makes New Investment in CDW Co. (NASDAQ:CDW)

Distillate Capital Partners LLC bought a new stake in CDW Co. (NASDAQ:CDW) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 94,319 shares of the information technology services provider’s stock, valued at approximately $16,415,000.

A number of other hedge funds have also recently bought and sold shares of CDW. Oddo BHF Asset Management Sas bought a new stake in shares of CDW in the 3rd quarter valued at about $1,629,000. Assenagon Asset Management S.A. lifted its position in shares of CDW by 7,549.9% in the fourth quarter. Assenagon Asset Management S.A. now owns 256,271 shares of the information technology services provider’s stock valued at $44,601,000 after buying an additional 252,921 shares during the last quarter. Franklin Resources Inc. boosted its stake in shares of CDW by 3.4% during the 3rd quarter. Franklin Resources Inc. now owns 108,009 shares of the information technology services provider’s stock worth $24,138,000 after acquiring an additional 3,567 shares during the period. Madison Investment Advisors LLC acquired a new position in shares of CDW during the 4th quarter worth approximately $130,996,000. Finally, Graphene Investments SAS lifted its holdings in CDW by 17.6% during the 4th quarter. Graphene Investments SAS now owns 17,400 shares of the information technology services provider’s stock valued at $3,028,000 after purchasing an additional 2,600 shares during the last quarter. 93.15% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have recently issued reports on CDW. Barclays raised their target price on shares of CDW from $201.00 to $223.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 6th. Morgan Stanley upped their target price on CDW from $193.00 to $201.00 and gave the company an “equal weight” rating in a research report on Thursday, February 6th. Finally, UBS Group dropped their price target on CDW from $233.00 to $220.00 and set a “buy” rating for the company in a report on Tuesday, January 7th. Four analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $235.50.

CDW Price Performance

Shares of NASDAQ:CDW opened at $148.80 on Friday. The firm has a 50 day moving average of $172.21 and a 200-day moving average of $185.97. CDW Co. has a 12 month low of $137.31 and a 12 month high of $248.12. 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 stock has a market capitalization of $19.71 billion, a PE ratio of 18.67, a PEG ratio of 3.21 and a beta of 0.97.

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

CDW Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 11th. Stockholders of record on Tuesday, February 25th were issued a $0.625 dividend. The ex-dividend date of this dividend was Tuesday, February 25th. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.68%. CDW’s dividend payout ratio (DPR) is currently 31.37%.

CDW announced that its Board of Directors has authorized a share repurchase plan on Wednesday, February 5th that authorizes the company to repurchase $750.00 million in outstanding shares. This repurchase authorization authorizes the information technology services provider to buy up to 2.7% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors 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.