CDW Co. (NASDAQ:CDW) Shares Bought by Cabot Wealth Management Inc.

Cabot Wealth Management Inc. raised its position in CDW Co. (NASDAQ:CDW) by 1.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 69,465 shares of the information technology services provider’s stock after buying an additional 1,101 shares during the period. CDW comprises about 1.5% of Cabot Wealth Management Inc.’s portfolio, making the stock its 26th largest holding. Cabot Wealth Management Inc.’s holdings in CDW were worth $12,090,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. Arcadia Investment Management Corp MI acquired a new stake in CDW in the 4th quarter valued at about $174,000. Jacobson & Schmitt Advisors LLC boosted its stake in CDW by 2.8% during the fourth quarter. Jacobson & Schmitt Advisors LLC now owns 69,432 shares of the information technology services provider’s stock worth $12,084,000 after buying an additional 1,861 shares during the period. Global Retirement Partners LLC increased its holdings in CDW by 16.4% in the 4th quarter. Global Retirement Partners LLC now owns 531 shares of the information technology services provider’s stock valued at $92,000 after purchasing an additional 75 shares during the last quarter. Venturi Wealth Management LLC raised its holdings in shares of CDW by 9.0% in the 4th quarter. Venturi Wealth Management LLC now owns 7,838 shares of the information technology services provider’s stock valued at $1,364,000 after buying an additional 649 shares during the period. Finally, Citizens & Northern Corp increased its stake in CDW by 2.9% during the 4th quarter. Citizens & Northern Corp now owns 6,580 shares of the information technology services provider’s stock worth $1,145,000 after buying an additional 187 shares during the period. 93.15% of the stock is currently owned by hedge funds and other institutional investors.

CDW Trading Down 3.3 %

Shares of CDW opened at $186.50 on Friday. CDW Co. has a 1-year low of $168.43 and a 1-year high of $263.37. The business’s 50-day moving average price is $186.14 and its 200 day moving average price is $200.03. The stock has a market capitalization of $24.85 billion, a P/E ratio of 23.40, a P/E/G ratio of 3.21 and a beta of 1.01. The company has a current ratio of 1.35, a quick ratio of 1.24 and a debt-to-equity ratio of 2.38.

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

CDW Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 11th. Shareholders of record on Tuesday, February 25th will be issued a $0.625 dividend. This represents a $2.50 annualized dividend and a yield of 1.34%. The ex-dividend date of this dividend is Tuesday, February 25th. CDW’s dividend payout ratio (DPR) is presently 31.37%.

CDW announced that its board has authorized a stock buyback program on Wednesday, February 5th that permits the company to buyback $750.00 million in shares. This buyback authorization permits the information technology services provider to reacquire up to 2.7% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its stock is undervalued.

Wall Street Analyst Weigh In

CDW has been the topic of several research analyst reports. Redburn Atlantic assumed coverage on shares of CDW in a research note on Friday, November 15th. They set a “buy” rating and a $230.00 price target on the stock. Barclays raised their price objective on shares of CDW from $201.00 to $223.00 and gave the company an “equal weight” rating in a research note on Thursday, February 6th. JPMorgan Chase & Co. cut shares of CDW from an “overweight” rating to a “neutral” rating and lowered their price objective for the company from $260.00 to $235.00 in a research note on Monday, October 28th. UBS Group cut their price target on CDW from $233.00 to $220.00 and set a “buy” rating for the company in a report on Tuesday, January 7th. Finally, Morgan Stanley lifted their target price on shares of CDW from $193.00 to $201.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 6th. Four analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target 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.