Entropy Technologies LP Raises Position in CDW Co. (NASDAQ:CDW)

Entropy Technologies LP grew its position in shares of CDW Co. (NASDAQ:CDW) by 1,168.1% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 48,010 shares of the information technology services provider’s stock after buying an additional 44,224 shares during the quarter. CDW accounts for approximately 0.9% of Entropy Technologies LP’s investment portfolio, making the stock its 9th largest holding. Entropy Technologies LP’s holdings in CDW were worth $8,356,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Cetera Investment Advisers grew its stake in shares of CDW by 33.4% during the second quarter. Cetera Investment Advisers now owns 12,893 shares of the information technology services provider’s stock valued at $2,886,000 after purchasing an additional 3,228 shares during the last quarter. Atomi Financial Group Inc. grew its stake in shares of CDW by 17.9% during the third quarter. Atomi Financial Group Inc. now owns 1,251 shares of the information technology services provider’s stock valued at $283,000 after purchasing an additional 190 shares during the last quarter. Wedmont Private Capital boosted its stake in CDW by 4.9% in the third quarter. Wedmont Private Capital now owns 1,727 shares of the information technology services provider’s stock valued at $381,000 after acquiring an additional 81 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt raised its position in shares of CDW by 332.3% during the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,954 shares of the information technology services provider’s stock valued at $442,000 after acquiring an additional 1,502 shares during the last quarter. Finally, Cardinal Capital Management Inc. bought a new stake in CDW in the third quarter valued at about $14,837,000. 93.15% of the stock is owned by institutional investors.

CDW Trading Down 3.9 %

Shares of CDW stock opened at $192.02 on Friday. The firm has a 50-day moving average of $183.86 and a 200-day moving average of $202.15. The stock has a market cap of $25.59 billion, a PE ratio of 24.09, a PEG ratio of 5.40 and a beta of 1.01. CDW Co. has a 52-week low of $168.43 and a 52-week high of $263.37. The company has a debt-to-equity ratio of 2.38, a quick ratio of 1.28 and a current ratio of 1.35.

CDW (NASDAQ:CDW) last announced its 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 net margin of 5.13% and a return on equity of 55.42%. As a group, sell-side analysts forecast that CDW Co. will post 9.35 EPS for the current year.

CDW declared that its Board of Directors has approved a stock buyback program on Wednesday, February 5th that allows the company to buyback $750.00 million in shares. This buyback authorization allows the information technology services provider to reacquire up to 2.7% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its shares are undervalued.

CDW Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 11th. Shareholders of record on Tuesday, February 25th will be paid a dividend of $0.625 per share. This represents a $2.50 annualized dividend and a yield of 1.30%. The ex-dividend date is Tuesday, February 25th. CDW’s payout ratio is 31.37%.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Barclays increased their price target on shares of CDW from $201.00 to $223.00 and gave the company an “equal weight” rating in a research report on Thursday. UBS Group dropped their target price 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. Redburn Atlantic began coverage on shares of CDW in a report on Friday, November 15th. They set a “buy” rating and a $230.00 target price on the stock. JPMorgan Chase & Co. downgraded shares of CDW from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $260.00 to $235.00 in a report on Monday, October 28th. Finally, Morgan Stanley raised their target price on shares of CDW from $193.00 to $201.00 and gave the stock an “equal weight” rating in a report on Thursday. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $242.67.

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.