Stevens Capital Management LP Purchases Shares of 5,003 CDW Co. (NASDAQ:CDW)

Stevens Capital Management LP purchased a new stake in CDW Co. (NASDAQ:CDW) during the 4th quarter, Holdings Channel reports. The firm purchased 5,003 shares of the information technology services provider’s stock, valued at approximately $871,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Janus Henderson Group PLC increased its stake in shares of CDW by 7,029.1% during the 3rd quarter. Janus Henderson Group PLC now owns 1,466,597 shares of the information technology services provider’s stock worth $331,891,000 after purchasing an additional 1,446,025 shares during the last quarter. Holocene Advisors LP acquired a new position in shares of CDW during the 3rd quarter worth about $172,217,000. Madison Investment Advisors LLC acquired a new position in shares of CDW during the 4th quarter worth about $130,996,000. Proficio Capital Partners LLC increased its stake in shares of CDW by 18,259.3% during the 4th quarter. Proficio Capital Partners LLC now owns 687,189 shares of the information technology services provider’s stock worth $119,598,000 after purchasing an additional 683,446 shares during the last quarter. Finally, Assenagon Asset Management S.A. increased its stake in shares of CDW by 7,549.9% during the 4th quarter. Assenagon Asset Management S.A. now owns 256,271 shares of the information technology services provider’s stock worth $44,601,000 after purchasing an additional 252,921 shares during the last quarter. 93.15% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Barclays boosted their price objective on shares of CDW from $201.00 to $223.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 6th. 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 report on Thursday, February 6th. Finally, UBS Group reduced their target price on shares of CDW from $233.00 to $220.00 and set a “buy” rating for the company in a report on Tuesday, January 7th. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, CDW currently has an average rating of “Moderate Buy” and a consensus target price of $235.50.

CDW Stock Performance

NASDAQ CDW opened at $165.57 on Friday. The company has a quick ratio of 1.24, a current ratio of 1.35 and a debt-to-equity ratio of 2.38. The company has a market capitalization of $21.94 billion, a P/E ratio of 20.77, a P/E/G ratio of 3.21 and a beta of 1.01. CDW Co. has a 12-month low of $162.84 and a 12-month high of $263.37. The firm has a 50-day moving average price of $184.40 and a two-hundred day moving average price of $193.19.

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

CDW Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 11th. Shareholders of record on Tuesday, February 25th were issued a $0.625 dividend. This represents a $2.50 dividend on an annualized basis and a yield of 1.51%. The ex-dividend date of this dividend was Tuesday, February 25th. CDW’s dividend payout ratio is currently 31.37%.

CDW declared that its Board of Directors has approved a stock repurchase plan 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 stock through open market purchases. Stock repurchase plans are often a sign that the company’s management 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.