E Fund Management Co. Ltd. Increases Holdings in CDW Co. (NASDAQ:CDW)

E Fund Management Co. Ltd. boosted its holdings in shares of CDW Co. (NASDAQ:CDW) by 85.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,262 shares of the information technology services provider’s stock after purchasing an additional 1,044 shares during the period. E Fund Management Co. Ltd.’s holdings in CDW were worth $514,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of CDW. OFI Invest Asset Management purchased a new position in shares of CDW during the 3rd quarter worth approximately $25,000. Larson Financial Group LLC purchased a new position in shares of CDW during the 4th quarter worth approximately $30,000. VisionPoint Advisory Group LLC bought a new stake in shares of CDW in the 3rd quarter worth approximately $28,000. ORG Partners LLC bought a new stake in shares of CDW in the 4th quarter worth approximately $36,000. Finally, Oakworth Capital Inc. bought a new stake in shares of CDW in the 4th quarter worth approximately $36,000. Hedge funds and other institutional investors own 93.15% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on CDW. Evercore ISI upped their price objective on CDW from $250.00 to $300.00 and gave the company an “outperform” rating in a research report on Friday, March 22nd. Citigroup lowered their price target on CDW from $295.00 to $260.00 and set a “buy” rating on the stock in a report on Thursday, May 2nd. Stifel Nicolaus lowered their price target on CDW from $265.00 to $250.00 and set a “buy” rating on the stock in a report on Thursday, May 2nd. Barclays lowered their price target on CDW from $261.00 to $232.00 and set an “equal weight” rating on the stock in a report on Thursday, May 2nd. Finally, JPMorgan Chase & Co. lowered their price target on CDW from $280.00 to $265.00 and set an “overweight” rating on the stock in a report on Thursday, May 2nd. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, CDW currently has a consensus rating of “Moderate Buy” and a consensus target price of $247.50.

CDW Stock Performance

Shares of NASDAQ:CDW traded down $0.36 on Wednesday, hitting $220.32. 753,675 shares of the company were exchanged, compared to its average volume of 722,447. CDW Co. has a 1-year low of $164.62 and a 1-year high of $263.37. The stock’s 50 day moving average price is $244.22 and its 200 day moving average price is $229.68. The company has a current ratio of 1.26, a quick ratio of 1.13 and a debt-to-equity ratio of 2.35. The firm has a market capitalization of $29.61 billion, a P/E ratio of 27.51, a price-to-earnings-growth ratio of 3.16 and a beta of 1.09.

CDW (NASDAQ:CDW) last posted its quarterly earnings data on Wednesday, February 7th. The information technology services provider reported $2.57 EPS for the quarter, topping the consensus estimate of $2.56 by $0.01. The business had revenue of $5.02 billion during the quarter, compared to the consensus estimate of $5.32 billion. CDW had a net margin of 5.16% and a return on equity of 67.56%. The business’s revenue for the quarter was down 7.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.40 earnings per share. Sell-side analysts predict that CDW Co. will post 9.89 EPS for the current year.

CDW Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 11th. Shareholders of record on Friday, May 24th will be given a $0.62 dividend. The ex-dividend date is Thursday, May 23rd. This represents a $2.48 dividend on an annualized basis and a dividend yield of 1.13%. CDW’s dividend payout ratio (DPR) is currently 30.96%.

CDW declared that its Board of Directors has authorized a share repurchase program on Wednesday, February 7th that permits the company to repurchase $750.00 million in shares. This repurchase authorization permits the information technology services provider to buy up to 2.4% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s board believes its stock is undervalued.

CDW 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.