Summit Trail Advisors LLC Grows Position in CDW Co. (NASDAQ:CDW)

Summit Trail Advisors LLC lifted its holdings in CDW Co. (NASDAQ:CDW) by 1.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,040 shares of the information technology services provider’s stock after buying an additional 56 shares during the period. Summit Trail Advisors LLC’s holdings in CDW were worth $703,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. WCM Investment Management LLC grew its holdings in CDW by 22.2% in the 4th quarter. WCM Investment Management LLC now owns 1,686 shares of the information technology services provider’s stock valued at $292,000 after buying an additional 306 shares in the last quarter. Entropy Technologies LP raised its holdings in shares of CDW by 1,168.1% during the 4th quarter. Entropy Technologies LP now owns 48,010 shares of the information technology services provider’s stock worth $8,356,000 after acquiring an additional 44,224 shares during the period. Unison Asset Management LLC boosted its position in shares of CDW by 2.6% during the 4th quarter. Unison Asset Management LLC now owns 38,732 shares of the information technology services provider’s stock valued at $6,741,000 after acquiring an additional 982 shares during the last quarter. Vest Financial LLC grew its holdings in shares of CDW by 75.1% in the fourth quarter. Vest Financial LLC now owns 1,595 shares of the information technology services provider’s stock valued at $278,000 after purchasing an additional 684 shares during the period. Finally, Lecap Asset Management Ltd. acquired a new stake in CDW during the fourth quarter worth about $3,756,000. 93.15% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have weighed in on the stock. Redburn Atlantic initiated coverage on shares of CDW in a report on Friday, November 15th. They issued a “buy” rating and a $230.00 target price on the stock. Morgan Stanley upped their price objective on CDW from $193.00 to $201.00 and gave the company an “equal weight” rating in a report on Thursday, February 6th. UBS Group cut their target price on CDW from $233.00 to $220.00 and set a “buy” rating for the company in a research note on Tuesday, January 7th. JPMorgan Chase & Co. lowered CDW from an “overweight” rating to a “neutral” rating and decreased their price target for the company from $260.00 to $235.00 in a research note on Monday, October 28th. Finally, Barclays increased their price target on CDW from $201.00 to $223.00 and gave the stock an “equal weight” rating in a report on Thursday, February 6th. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, CDW has an average rating of “Moderate Buy” and an average target price of $242.67.

CDW Price Performance

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

CDW (NASDAQ:CDW) last issued its quarterly earnings results on Wednesday, February 5th. The information technology services provider reported $2.40 earnings per share (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%. As a group, sell-side analysts expect that CDW Co. will post 9.35 earnings per share for the current year.

CDW Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 11th. Investors of record on Tuesday, February 25th will be issued a $0.625 dividend. The ex-dividend date of this dividend is Tuesday, February 25th. This represents a $2.50 dividend on an annualized basis and a yield of 1.30%. CDW’s dividend payout ratio (DPR) is presently 31.37%.

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