Farther Finance Advisors LLC Has $119,000 Holdings in CDW Co. (NASDAQ:CDW)

Farther Finance Advisors LLC boosted its holdings in shares of CDW Co. (NASDAQ:CDW) by 16.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 681 shares of the information technology services provider’s stock after buying an additional 94 shares during the quarter. Farther Finance Advisors LLC’s holdings in CDW were worth $119,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Allworth Financial LP increased its position in CDW by 39.7% during the fourth quarter. Allworth Financial LP now owns 183 shares of the information technology services provider’s stock worth $32,000 after buying an additional 52 shares during the last quarter. OFI Invest Asset Management acquired a new position in CDW during the fourth quarter worth approximately $32,000. Parkside Financial Bank & Trust increased 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 worth $36,000 after buying an additional 58 shares during the last quarter. Canoe Financial LP grew its position in shares of CDW by 68.3% in the fourth quarter. Canoe Financial LP now owns 276 shares of the information technology services provider’s stock valued at $48,000 after purchasing an additional 112 shares during the last quarter. Finally, ORG Wealth Partners LLC acquired a new position in shares of CDW in the fourth quarter valued at approximately $69,000. Institutional investors and hedge funds own 93.15% of the company’s stock.

CDW Trading Down 2.7 %

Shares of CDW stock opened at $168.09 on Friday. 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 stock has a market cap of $22.27 billion, a P/E ratio of 21.09, a price-to-earnings-growth ratio of 3.21 and a beta of 1.01. The stock has a 50 day simple moving average of $184.75 and a 200 day simple moving average of $193.78. CDW Co. has a 1 year low of $162.84 and a 1 year high of $263.37.

CDW (NASDAQ:CDW) last released its earnings results on Wednesday, February 5th. The information technology services provider reported $2.40 earnings per share for the quarter, topping the consensus estimate of $2.33 by $0.07. CDW had a return on equity of 55.42% and a net margin of 5.13%. On average, research analysts predict that CDW Co. will post 9.41 earnings per share for the current fiscal year.

CDW announced that its board has authorized a stock repurchase program on Wednesday, February 5th that allows the company to buyback $750.00 million in shares. This buyback authorization allows the information technology services provider to repurchase up to 2.7% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board of directors believes its shares are undervalued.

CDW Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 11th. Shareholders of record on Tuesday, February 25th were paid a dividend of $0.625 per share. This represents a $2.50 annualized dividend and a yield of 1.49%. The ex-dividend date was Tuesday, February 25th. CDW’s payout ratio is presently 31.37%.

Analysts Set New Price Targets

CDW has been the topic of several research reports. 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 upped their target price on CDW from $193.00 to $201.00 and gave the company an “equal weight” rating in a research report on Thursday, February 6th. Finally, Barclays upped their target price on CDW from $201.00 to $223.00 and gave the company an “equal weight” rating in a research report on Thursday, February 6th. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, CDW has an average rating of “Moderate Buy” and a consensus target price 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.