Harvest Fund Management Co. Ltd Purchases 1,690 Shares of CDW Co. (NASDAQ:CDW)

Harvest Fund Management Co. Ltd grew its holdings in shares of CDW Co. (NASDAQ:CDW) by 27.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 7,843 shares of the information technology services provider’s stock after acquiring an additional 1,690 shares during the period. Harvest Fund Management Co. Ltd’s holdings in CDW were worth $1,365,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in CDW. Intech Investment Management LLC grew its stake in CDW by 1,080.2% during the fourth quarter. Intech Investment Management LLC now owns 115,307 shares of the information technology services provider’s stock worth $20,068,000 after purchasing an additional 105,537 shares during the period. Thrivent Financial for Lutherans increased its stake in shares of CDW by 1.8% in the 4th quarter. Thrivent Financial for Lutherans now owns 610,948 shares of the information technology services provider’s stock valued at $106,356,000 after acquiring an additional 11,048 shares in the last quarter. PDS Planning Inc increased its stake in shares of CDW by 18.9% in the 4th quarter. PDS Planning Inc now owns 1,410 shares of the information technology services provider’s stock valued at $245,000 after acquiring an additional 224 shares in the last quarter. Signaturefd LLC boosted its stake in CDW by 2.7% during the fourth quarter. Signaturefd LLC now owns 2,706 shares of the information technology services provider’s stock worth $471,000 after acquiring an additional 72 shares in the last quarter. Finally, Cibc World Markets Corp grew its holdings in CDW by 13.5% in the fourth quarter. Cibc World Markets Corp now owns 23,972 shares of the information technology services provider’s stock worth $4,172,000 after purchasing an additional 2,842 shares during the period. 93.15% of the stock is owned by institutional investors.

CDW Stock Performance

Shares of CDW stock opened at $172.84 on Thursday. The company has a market cap of $22.90 billion, a PE ratio of 21.69, a price-to-earnings-growth ratio of 3.21 and a beta of 1.01. The company has a quick ratio of 1.24, a current ratio of 1.35 and a debt-to-equity ratio of 2.38. CDW Co. has a 52 week low of $162.84 and a 52 week high of $263.37. The business has a 50 day moving average price of $185.01 and a 200-day moving average price of $193.96.

CDW (NASDAQ:CDW) last released its quarterly earnings results on Wednesday, February 5th. The information technology services provider reported $2.40 EPS for the quarter, beating analysts’ consensus estimates of $2.33 by $0.07. CDW had a return on equity of 55.42% and a net margin of 5.13%. Equities analysts anticipate that CDW Co. will post 9.41 earnings per share for the current fiscal year.

CDW Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 11th. Investors of record on Tuesday, February 25th were given a dividend of $0.625 per share. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.45%. The ex-dividend date of this dividend was Tuesday, February 25th. CDW’s payout ratio is currently 31.37%.

CDW announced that its Board of Directors has initiated 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 purchase up to 2.7% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its stock is undervalued.

Analysts Set New Price Targets

CDW has been the subject of several research reports. UBS Group reduced 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. Barclays boosted their price objective on CDW from $201.00 to $223.00 and gave the company an “equal weight” rating in a report on Thursday, February 6th. Finally, Morgan Stanley increased their target price on CDW from $193.00 to $201.00 and gave the stock an “equal weight” rating in a report on Thursday, February 6th. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average 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.