Florida Financial Advisors LLC Grows Position in CDW Co. (NASDAQ:CDW)

Florida Financial Advisors LLC lifted its holdings in shares of CDW Co. (NASDAQ:CDW) by 22.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,024 shares of the information technology services provider’s stock after buying an additional 557 shares during the quarter. Florida Financial Advisors LLC’s holdings in CDW were worth $526,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. Bay Capital Advisors LLC purchased a new stake in shares of CDW in the 4th quarter valued at about $261,000. FineMark National Bank & Trust increased its holdings in shares of CDW by 46.0% in the 4th quarter. FineMark National Bank & Trust now owns 83,078 shares of the information technology services provider’s stock worth $14,459,000 after buying an additional 26,161 shares during the last quarter. Modern Wealth Management LLC raised its position in shares of CDW by 11.6% during the 4th quarter. Modern Wealth Management LLC now owns 11,560 shares of the information technology services provider’s stock valued at $2,215,000 after buying an additional 1,197 shares in the last quarter. EntryPoint Capital LLC lifted its holdings in shares of CDW by 32.9% during the 4th quarter. EntryPoint Capital LLC now owns 2,817 shares of the information technology services provider’s stock worth $490,000 after acquiring an additional 698 shares during the last quarter. Finally, Congress Wealth Management LLC DE grew its position in CDW by 2.6% in the fourth quarter. Congress Wealth Management LLC DE now owns 15,378 shares of the information technology services provider’s stock worth $2,676,000 after acquiring an additional 385 shares in the last quarter. 93.15% of the stock is currently owned by hedge funds and other institutional investors.

CDW Stock Up 2.9 %

Shares of NASDAQ CDW opened at $170.31 on Tuesday. The company has a market cap of $22.56 billion, a price-to-earnings ratio of 21.37, a PEG ratio of 3.21 and a beta of 1.01. 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 firm’s fifty day moving average is $184.19 and its 200 day moving average is $192.73. CDW Co. has a 52 week low of $162.84 and a 52 week high of $263.37.

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, topping 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%. On average, equities research analysts expect that CDW Co. will post 9.41 earnings per share for the current year.

CDW declared that its Board of Directors has approved a stock buyback program on Wednesday, February 5th that authorizes the company to repurchase $750.00 million in shares. This repurchase authorization authorizes the information technology services provider to purchase up to 2.7% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s management believes its shares are undervalued.

CDW Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 11th. Investors of record on Tuesday, February 25th were paid a $0.625 dividend. This represents a $2.50 dividend on an annualized basis and a yield of 1.47%. The ex-dividend date of this dividend was Tuesday, February 25th. CDW’s payout ratio is 31.37%.

Analysts Set New Price Targets

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

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.