Brown Brothers Harriman & Co. Buys 261 Shares of CDW Co. (NASDAQ:CDW)

Brown Brothers Harriman & Co. lifted its stake in shares of CDW Co. (NASDAQ:CDW) by 19.0% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,634 shares of the information technology services provider’s stock after purchasing an additional 261 shares during the quarter. Brown Brothers Harriman & Co.’s holdings in CDW were worth $284,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of CDW. Allworth Financial LP raised its position in shares of CDW by 39.7% in the 4th quarter. Allworth Financial LP now owns 183 shares of the information technology services provider’s stock valued at $32,000 after buying an additional 52 shares in the last quarter. OFI Invest Asset Management bought a new position in CDW in the fourth quarter valued at approximately $32,000. Parkside Financial Bank & Trust raised its position in CDW by 38.9% during the fourth quarter. Parkside Financial Bank & Trust now owns 207 shares of the information technology services provider’s stock valued at $36,000 after purchasing an additional 58 shares in the last quarter. Canoe Financial LP lifted its stake in CDW by 68.3% during the fourth quarter. Canoe Financial LP now owns 276 shares of the information technology services provider’s stock worth $48,000 after purchasing an additional 112 shares during the last quarter. Finally, ORG Wealth Partners LLC acquired a new stake in shares of CDW in the 4th quarter valued at $69,000. Institutional investors own 93.15% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on CDW shares. UBS Group decreased their target price on CDW from $233.00 to $220.00 and set a “buy” rating on the stock in a research report on Tuesday, January 7th. Morgan Stanley lifted their price target on shares of CDW from $193.00 to $201.00 and gave the company an “equal weight” rating in a report on Thursday, February 6th. Finally, Barclays upped their price objective on shares of CDW from $201.00 to $223.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 6th. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $235.50.

CDW Stock Performance

Shares of CDW stock opened at $160.26 on Tuesday. CDW Co. has a 1-year low of $158.76 and a 1-year high of $263.37. The company has a current ratio of 1.35, a quick ratio of 1.24 and a debt-to-equity ratio of 2.38. The business has a 50-day moving average price of $181.83 and a two-hundred day moving average price of $190.93. The company has a market cap of $21.23 billion, a P/E ratio of 20.11, a PEG ratio of 3.21 and a beta of 1.01.

CDW (NASDAQ:CDW) last posted its quarterly earnings results on Wednesday, February 5th. The information technology services provider reported $2.40 earnings per share (EPS) for the quarter, topping 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%. As a group, analysts anticipate that CDW Co. will post 9.41 EPS for the current year.

CDW Dividend Announcement

The business also recently declared 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 1.56%. The ex-dividend date was Tuesday, February 25th. CDW’s payout ratio is 31.37%.

CDW declared that its Board of Directors has authorized a stock repurchase plan on Wednesday, February 5th that authorizes the company to buyback $750.00 million in outstanding shares. This buyback authorization authorizes the information technology services provider to reacquire up to 2.7% of its stock through open market purchases. Stock buyback plans are usually 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.