Unique Wealth Strategies LLC Invests $720,000 in CDW Co. (NASDAQ:CDW)

Unique Wealth Strategies LLC purchased a new position in shares of CDW Co. (NASDAQ:CDW) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 3,169 shares of the information technology services provider’s stock, valued at approximately $720,000.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Raymond James Financial Services Advisors Inc. boosted its stake in shares of CDW by 16.1% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 49,011 shares of the information technology services provider’s stock valued at $11,141,000 after buying an additional 6,799 shares during the period. Cerity Partners LLC grew its position in shares of CDW by 44.9% during the fourth quarter. Cerity Partners LLC now owns 14,553 shares of the information technology services provider’s stock worth $3,308,000 after buying an additional 4,511 shares in the last quarter. Pacer Advisors Inc. grew its position in shares of CDW by 84.9% during the fourth quarter. Pacer Advisors Inc. now owns 15,924 shares of the information technology services provider’s stock worth $3,620,000 after buying an additional 7,310 shares in the last quarter. JGP Wealth Management LLC acquired a new position in shares of CDW during the fourth quarter worth about $1,559,000. Finally, California Public Employees Retirement System grew its position in shares of CDW by 1.0% during the third quarter. California Public Employees Retirement System now owns 819,011 shares of the information technology services provider’s stock worth $165,244,000 after buying an additional 7,854 shares in the last quarter. 93.15% of the stock is currently owned by hedge funds and other institutional investors.

CDW Price Performance

NASDAQ:CDW traded down $1.16 during trading hours on Friday, hitting $242.26. The company’s stock had a trading volume of 424,550 shares, compared to its average volume of 592,743. The business’s 50-day moving average is $247.23 and its two-hundred day moving average is $228.31. The company has a market capitalization of $32.55 billion, a PE ratio of 29.91, a PEG ratio of 2.76 and a beta of 1.09. The company has a debt-to-equity ratio of 2.46, a quick ratio of 1.11 and a current ratio of 1.23. CDW Co. has a 52-week low of $162.59 and a 52-week high of $263.37.

CDW (NASDAQ:CDW) last released its quarterly earnings data on Wednesday, February 7th. The information technology services provider reported $2.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.56 by $0.01. The firm had revenue of $5.02 billion during the quarter, compared to analysts’ expectations of $5.32 billion. CDW had a return on equity of 73.93% and a net margin of 5.17%. CDW’s revenue was down 7.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.40 earnings per share. As a group, research analysts anticipate that CDW Co. will post 9.89 EPS for the current fiscal year.

CDW Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 12th. Shareholders of record on Monday, February 26th were issued a $0.62 dividend. This represents a $2.48 annualized dividend and a yield of 1.02%. The ex-dividend date of this dividend was Friday, February 23rd. CDW’s dividend payout ratio (DPR) is 30.62%.

CDW announced that its board has approved a share repurchase plan on Wednesday, February 7th that authorizes the company to buyback $750.00 million in outstanding shares. This buyback authorization authorizes the information technology services provider to buy up to 2.4% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.

Analyst Ratings Changes

CDW has been the subject of a number of research analyst reports. Citigroup upped their price target on CDW from $255.00 to $295.00 and gave the company a “buy” rating in a report on Thursday, April 4th. JPMorgan Chase & Co. upped their price target on CDW from $267.00 to $280.00 and gave the company an “overweight” rating in a report on Thursday, April 11th. Evercore ISI upped their price target on CDW from $250.00 to $300.00 and gave the company an “outperform” rating in a report on Friday, March 22nd. Finally, Barclays upped their price target on CDW from $219.00 to $261.00 and gave the company an “equal weight” rating in a report on Thursday, February 8th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $242.67.

CDW Company 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.