Schwartz Investment Counsel Inc. Acquires 95,750 Shares of CDW Co. (NASDAQ:CDW)

Schwartz Investment Counsel Inc. grew its position in shares of CDW Co. (NASDAQ:CDW) by 144.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 162,000 shares of the information technology services provider’s stock after acquiring an additional 95,750 shares during the quarter. Schwartz Investment Counsel Inc. owned 0.12% of CDW worth $28,194,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in CDW. Canoe Financial LP purchased a new position in CDW in the third quarter worth $37,000. Fortitude Family Office LLC boosted its holdings in shares of CDW by 350.0% in the 3rd quarter. Fortitude Family Office LLC now owns 171 shares of the information technology services provider’s stock worth $39,000 after buying an additional 133 shares during the last quarter. Ashton Thomas Securities LLC bought a new position in CDW during the third quarter valued at about $43,000. Covestor Ltd grew its position in CDW by 80.1% during the third quarter. Covestor Ltd now owns 245 shares of the information technology services provider’s stock valued at $55,000 after buying an additional 109 shares during the period. Finally, ORG Wealth Partners LLC bought a new position in shares of CDW during the 4th quarter valued at approximately $69,000. Hedge funds and other institutional investors own 93.15% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. JPMorgan Chase & Co. cut CDW from an “overweight” rating to a “neutral” rating and lowered their price objective for the company from $260.00 to $235.00 in a research note on Monday, October 28th. Barclays boosted 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, February 6th. Redburn Atlantic initiated coverage on shares of CDW in a report on Friday, November 15th. They issued a “buy” rating and a $230.00 price objective for the company. Morgan Stanley boosted their target price on shares of CDW from $193.00 to $201.00 and gave the company an “equal weight” rating in a report on Thursday, February 6th. Finally, UBS Group cut 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 equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $242.67.

CDW Stock Performance

Shares of CDW opened at $191.74 on Wednesday. The company has a current ratio of 1.35, a quick ratio of 1.28 and a debt-to-equity ratio of 2.38. The stock has a 50-day moving average price of $184.32 and a 200-day moving average price of $201.43. The company has a market cap of $25.55 billion, a PE ratio of 24.06, a price-to-earnings-growth ratio of 5.40 and a beta of 1.01. CDW Co. has a 12-month low of $168.43 and a 12-month high of $263.37.

CDW (NASDAQ:CDW) last issued 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, equities analysts forecast that CDW Co. will post 9.35 earnings per share for the current fiscal year.

CDW Announces Dividend

The company also recently declared 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 dividend payout ratio (DPR) is currently 31.37%.

CDW announced that its board has authorized a share buyback program on Wednesday, February 5th that permits the company to repurchase $750.00 million in shares. This repurchase authorization permits the information technology services provider to buy up to 2.7% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors 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.