Platform Technology Partners boosted its stake in shares of CDW Co. (NASDAQ:CDW – Get Rating) by 9.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,037 shares of the information technology services provider’s stock after purchasing an additional 347 shares during the quarter. Platform Technology Partners’ holdings in CDW were worth $721,000 at the end of the most recent quarter.
Several other large investors have also recently bought and sold shares of CDW. Cambridge Investment Research Advisors Inc. raised its stake in CDW by 9.2% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 6,513 shares of the information technology services provider’s stock valued at $1,165,000 after purchasing an additional 547 shares during the last quarter. Acadian Asset Management LLC bought a new stake in CDW in the 1st quarter valued at $103,000. Panagora Asset Management Inc. increased its holdings in CDW by 160.4% in the 1st quarter. Panagora Asset Management Inc. now owns 4,645 shares of the information technology services provider’s stock valued at $831,000 after buying an additional 2,861 shares during the period. Yousif Capital Management LLC increased its holdings in CDW by 0.3% in the 1st quarter. Yousif Capital Management LLC now owns 20,523 shares of the information technology services provider’s stock valued at $3,671,000 after buying an additional 65 shares during the period. Finally, Blair William & Co. IL increased its holdings in CDW by 1.5% in the 1st quarter. Blair William & Co. IL now owns 33,977 shares of the information technology services provider’s stock valued at $6,078,000 after buying an additional 515 shares during the period. 92.78% of the stock is currently owned by institutional investors and hedge funds.
CDW Price Performance
NASDAQ:CDW traded down $5.53 during mid-day trading on Friday, reaching $188.05. 1,622,270 shares of the company were exchanged, compared to its average volume of 851,067. CDW Co. has a 12 month low of $147.91 and a 12 month high of $215.00. The company has a fifty day moving average of $199.07 and a 200 day moving average of $182.80. The company has a quick ratio of 1.17, a current ratio of 1.33 and a debt-to-equity ratio of 3.66. The stock has a market cap of $25.50 billion, a PE ratio of 23.13, a PEG ratio of 1.48 and a beta of 1.13.
CDW declared that its board has initiated a share repurchase plan on Wednesday, February 8th that allows the company to buyback $750.00 million in outstanding shares. This buyback authorization allows the information technology services provider to repurchase up to 2.8% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.
CDW Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, March 10th. Shareholders of record on Friday, February 24th were issued a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a yield of 1.25%. The ex-dividend date of this dividend was Thursday, February 23rd. CDW’s dividend payout ratio is currently 29.03%.
Insiders Place Their Bets
In other CDW news, Director Donna F. Zarcone sold 4,703 shares of the stock in a transaction dated Thursday, February 9th. The shares were sold at an average price of $203.23, for a total transaction of $955,790.69. Following the sale, the director now owns 18,058 shares of the company’s stock, valued at approximately $3,669,927.34. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.67% of the company’s stock.
Analyst Ratings Changes
Several equities research analysts have issued reports on the stock. Raymond James boosted their price target on shares of CDW from $200.00 to $220.00 and gave the company an “outperform” rating in a report on Thursday, February 9th. Citigroup boosted their price target on shares of CDW from $210.00 to $230.00 and gave the company a “buy” rating in a report on Thursday, February 9th. JPMorgan Chase & Co. boosted their price target on shares of CDW from $215.00 to $225.00 and gave the company an “overweight” rating in a report on Tuesday, December 20th. Credit Suisse Group upped their target price on shares of CDW from $220.00 to $230.00 and gave the stock an “outperform” rating in a report on Thursday, February 9th. Finally, Morgan Stanley upped their target price on shares of CDW from $217.00 to $228.00 and gave the stock an “overweight” rating in a report on Thursday, February 9th. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $221.86.
CDW Corp. engages in the provision of information technology solutions to small, medium, and large business, government, education, and healthcare customers. It operates through the following segments: Corporate, Small Business, Public, and Other. The Public segment includes government agencies and education and healthcare institutions.
- Get a free copy of the StockNews.com research report on CDW (CDW)
- MarketBeat Week in Review – 3/13 – 3/17
- This Small Tech With Big Growth Prospects Is Nearing A Buy Point
- Don’t Chase FedEx Higher, Wait For The Pullback
- 3 Stocks For A Defensive Tech Portfolio
- Milk the Dividends on These 3 Cash Cows
Want to see what other hedge funds are holding CDW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for CDW Co. (NASDAQ:CDW – Get Rating).
Receive News & Ratings for CDW Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CDW and related companies with MarketBeat.com's FREE daily email newsletter.