Versor Investments LP Takes Position in CDW Co. (NASDAQ:CDW)

Versor Investments LP bought a new stake in CDW Co. (NASDAQ:CDW) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 6,400 shares of the information technology services provider’s stock, valued at approximately $1,114,000.

A number of other institutional investors have also modified their holdings of the business. PDS Planning Inc grew its position in CDW by 4.3% in the 3rd quarter. PDS Planning Inc now owns 1,186 shares of the information technology services provider’s stock valued at $268,000 after buying an additional 49 shares during the last quarter. Allworth Financial LP grew its position in CDW by 39.7% in the 4th quarter. Allworth Financial LP now owns 183 shares of the information technology services provider’s stock valued at $32,000 after buying an additional 52 shares during the last quarter. Summit Trail Advisors LLC grew its position in CDW by 1.4% in the 4th quarter. Summit Trail Advisors LLC now owns 4,040 shares of the information technology services provider’s stock valued at $703,000 after buying an additional 56 shares during the last quarter. OneAscent Wealth Management LLC grew its position in CDW by 2.5% in the 3rd quarter. OneAscent Wealth Management LLC now owns 2,387 shares of the information technology services provider’s stock valued at $540,000 after buying an additional 58 shares during the last quarter. Finally, Fulcrum Equity Management grew its position in CDW by 4.3% in the 3rd quarter. Fulcrum Equity Management now owns 1,442 shares of the information technology services provider’s stock valued at $326,000 after buying an additional 60 shares during the last quarter. 93.15% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CDW has been the topic of a number of analyst reports. Barclays lifted their price objective 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. Morgan Stanley boosted their target price on shares of CDW from $193.00 to $201.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 6th. Redburn Atlantic assumed coverage on shares of CDW in a research report on Friday, November 15th. They set a “buy” rating and a $230.00 target price on the stock. Finally, UBS Group decreased their target price on shares of CDW from $233.00 to $220.00 and set a “buy” rating on the stock in a research report on Tuesday, January 7th. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $242.67.

CDW Price Performance

CDW stock opened at $179.00 on Friday. CDW Co. has a 52 week low of $168.43 and a 52 week high of $263.37. 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 firm’s 50-day simple moving average is $186.73 and its 200 day simple moving average is $199.29. The firm has a market capitalization of $23.72 billion, a PE ratio of 22.46, a P/E/G ratio of 3.21 and a beta of 1.01.

CDW (NASDAQ:CDW) last released its quarterly earnings data on Wednesday, February 5th. The information technology services provider reported $2.40 EPS for the quarter, topping 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 declared that its Board of Directors has authorized a stock repurchase plan 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 shares through open market purchases. Shares repurchase plans are often a sign that the company’s management believes its stock is undervalued.

CDW Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 11th. Investors of record on Tuesday, February 25th will be given a $0.625 dividend. The ex-dividend date is Tuesday, February 25th. This represents a $2.50 annualized dividend and a dividend yield of 1.40%. CDW’s dividend payout ratio is presently 31.37%.

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.