Unique Wealth Strategies LLC Takes $720,000 Position in CDW Co. (NASDAQ:CDW)

Unique Wealth Strategies LLC bought a new stake in CDW Co. (NASDAQ:CDW) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 3,169 shares of the information technology services provider’s stock, valued at approximately $720,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. OFI Invest Asset Management bought a new position in shares of CDW in the 3rd quarter worth $25,000. VisionPoint Advisory Group LLC bought a new position in shares of CDW in the 3rd quarter worth $28,000. TFC Financial Management Inc. boosted its position in shares of CDW by 61.1% in the 3rd quarter. TFC Financial Management Inc. now owns 145 shares of the information technology services provider’s stock worth $29,000 after purchasing an additional 55 shares during the last quarter. Larson Financial Group LLC bought a new position in shares of CDW in the 4th quarter worth $30,000. Finally, Orion Capital Management LLC bought a new position in shares of CDW in the 3rd quarter worth $35,000. 93.15% of the stock is owned by institutional investors and hedge funds.

CDW Stock Down 0.5 %

Shares of CDW traded down $1.16 during midday trading on Friday, hitting $242.26. The stock had a trading volume of 424,550 shares, compared to its average volume of 592,743. The company has a 50 day simple moving average of $247.23 and a two-hundred day simple moving average of $228.31. CDW Co. has a twelve month low of $162.59 and a twelve month high of $263.37. The firm has a market cap of $32.55 billion, a price-to-earnings ratio of 29.91, a price-to-earnings-growth ratio of 2.76 and a beta of 1.09. The company has a debt-to-equity ratio of 2.46, a current ratio of 1.23 and a quick ratio of 1.11.

CDW (NASDAQ:CDW) last released its quarterly earnings results on Wednesday, February 7th. The information technology services provider reported $2.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.56 by $0.01. CDW had a return on equity of 73.93% and a net margin of 5.17%. The firm had revenue of $5.02 billion for the quarter, compared to the consensus estimate of $5.32 billion. During the same quarter last year, the business posted $2.40 EPS. The company’s revenue for the quarter was down 7.7% on a year-over-year basis. On average, analysts anticipate that CDW Co. will post 9.89 EPS for the current year.

CDW Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 12th. Shareholders of record on Monday, February 26th were paid a $0.62 dividend. This represents a $2.48 annualized dividend and a dividend yield of 1.02%. The ex-dividend date of this dividend was Friday, February 23rd. CDW’s dividend payout ratio is 30.62%.

CDW announced that its board has initiated a share repurchase plan on Wednesday, February 7th 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 2.4% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its shares are undervalued.

Analyst Upgrades and Downgrades

CDW has been the topic of several recent research reports. Evercore ISI raised their price target on CDW from $250.00 to $300.00 and gave the stock an “outperform” rating in a research report on Friday, March 22nd. JPMorgan Chase & Co. lifted their target price on CDW from $267.00 to $280.00 and gave the stock an “overweight” rating in a report on Thursday, April 11th. Barclays lifted their target price on CDW from $219.00 to $261.00 and gave the stock an “equal weight” rating in a report on Thursday, February 8th. Finally, Citigroup lifted their target price on CDW from $255.00 to $295.00 and gave the stock a “buy” rating in a report on Thursday, April 4th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, CDW currently has an average rating of “Moderate Buy” and a consensus target price of $242.67.

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.