Community Bank N.A. Acquires Shares of 890 CDW Co. (NASDAQ:CDW)

Community Bank N.A. bought a new stake in CDW Co. (NASDAQ:CDW) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 890 shares of the information technology services provider’s stock, valued at approximately $202,000.

Several other institutional investors and hedge funds also recently made changes to their positions in CDW. Raymond James Financial Services Advisors Inc. grew its stake in CDW by 16.1% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 49,011 shares of the information technology services provider’s stock worth $11,141,000 after buying an additional 6,799 shares during the last quarter. Cerity Partners LLC boosted its position in CDW by 44.9% during the 4th quarter. Cerity Partners LLC now owns 14,553 shares of the information technology services provider’s stock worth $3,308,000 after acquiring an additional 4,511 shares during the period. Pacer Advisors Inc. grew its stake in shares of CDW by 84.9% in the fourth quarter. Pacer Advisors Inc. now owns 15,924 shares of the information technology services provider’s stock worth $3,620,000 after purchasing 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 valued at $1,559,000. Finally, California Public Employees Retirement System raised its stake 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 valued at $165,244,000 after purchasing an additional 7,854 shares in the last quarter. 93.15% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CDW has been the subject of several research reports. Evercore ISI raised their target price on CDW from $250.00 to $300.00 and gave the company an “outperform” rating in a research note on Friday, March 22nd. Citigroup increased their target price on shares of CDW from $255.00 to $295.00 and gave the company a “buy” rating in a research note on Thursday, April 4th. Barclays lifted their price target on shares of CDW from $219.00 to $261.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 8th. Finally, JPMorgan Chase & Co. raised their price objective on CDW from $267.00 to $280.00 and gave the stock an “overweight” rating in a research note on Thursday, April 11th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $242.67.

CDW Stock Performance

CDW traded up $3.03 during trading on Thursday, hitting $243.72. The stock had a trading volume of 262,217 shares, compared to its average volume of 690,252. CDW Co. has a 12 month low of $162.59 and a 12 month high of $263.37. The firm has a market cap of $32.75 billion, a PE ratio of 29.59, a P/E/G ratio of 2.72 and a beta of 1.09. The company has a 50 day simple moving average of $247.22 and a 200-day simple moving average of $228.20. The company has a current ratio of 1.23, a quick ratio of 1.11 and a debt-to-equity ratio of 2.46.

CDW (NASDAQ:CDW) last announced its earnings results on Wednesday, February 7th. The information technology services provider reported $2.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.56 by $0.01. The company had revenue of $5.02 billion for the quarter, compared to analyst estimates of $5.32 billion. CDW had a net margin of 5.17% and a return on equity of 73.93%. CDW’s quarterly revenue was down 7.7% on a year-over-year basis. During the same period in the prior year, the business earned $2.40 earnings per share. Analysts expect that CDW Co. will post 9.89 EPS for the current year.

CDW Announces Dividend

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

CDW announced that its board has approved a stock repurchase plan on Wednesday, February 7th that authorizes the company to repurchase $750.00 million in outstanding shares. This repurchase authorization authorizes the information technology services provider to purchase up to 2.4% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s management believes its stock is undervalued.

CDW 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.