Graham Capital Management L.P. Takes Position in CDW Co. (NASDAQ:CDW)

Graham Capital Management L.P. bought a new stake in CDW Co. (NASDAQ:CDW – Free Report) in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 2,817 shares of the information technology services provider’s stock, valued at approximately $568,000.

A number of other large investors have also recently made changes to their positions in the company. Morgan Stanley lifted its position in CDW by 130.7% during the 4th quarter. Morgan Stanley now owns 2,442,301 shares of the information technology services provider’s stock worth $436,146,000 after acquiring an additional 1,383,869 shares during the period. JPMorgan Chase & Co. lifted its position in CDW by 31.3% during the 2nd quarter. JPMorgan Chase & Co. now owns 1,948,250 shares of the information technology services provider’s stock worth $357,504,000 after acquiring an additional 464,545 shares during the period. Mondrian Investment Partners LTD acquired a new stake in CDW during the 2nd quarter worth approximately $75,222,000. Norges Bank acquired a new stake in CDW during the 4th quarter worth approximately $66,992,000. Finally, The Manufacturers Life Insurance Company lifted its position in CDW by 91.8% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 728,446 shares of the information technology services provider’s stock worth $146,971,000 after acquiring an additional 348,749 shares during the period. 93.04% of the stock is owned by institutional investors and hedge funds.

CDW Stock Performance

NASDAQ CDW opened at $245.51 on Friday. CDW Co. has a 1-year low of $160.66 and a 1-year high of $250.63. The company has a market capitalization of $32.95 billion, a P/E ratio of 30.31, a PEG ratio of 2.82 and a beta of 1.09. The business has a 50 day moving average price of $236.11 and a 200 day moving average price of $220.16. The company has a debt-to-equity ratio of 2.46, a current ratio of 1.23 and a quick ratio of 1.11.

CDW (NASDAQ:CDW – Get Free Report) last released its quarterly earnings data on Wednesday, February 7th. The information technology services provider reported $2.57 earnings per share for the quarter, beating the consensus estimate of $2.56 by $0.01. CDW had a return on equity of 73.93% and a net margin of 5.17%. The firm had revenue of $5.02 billion during the quarter, compared to the consensus estimate of $5.32 billion. During the same period last year, the business posted $2.40 EPS. CDW’s quarterly revenue was down 7.7% on a year-over-year basis. Sell-side analysts expect that CDW Co. will post 9.88 EPS for the current fiscal year.

CDW Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 12th. Investors of record on Monday, February 26th were paid a $0.62 dividend. This represents a $2.48 annualized dividend and a yield of 1.01%. The ex-dividend date of this dividend was Friday, February 23rd. CDW’s payout ratio is currently 30.62%.

CDW declared that its board has authorized a stock repurchase program on Wednesday, February 7th that authorizes the company to buyback $750.00 million in shares. This buyback authorization authorizes the information technology services provider to reacquire up to 2.4% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.

Wall Street Analyst Weigh In

CDW has been the subject of a number of recent research reports. JPMorgan Chase & Co. increased their price objective on CDW from $253.00 to $267.00 and gave the stock an “overweight” rating in a research report on Thursday, February 8th. Morgan Stanley cut CDW from an “overweight” rating to an “equal weight” rating and set a $216.00 price target for the company. in a report on Tuesday, December 12th. Finally, Barclays raised 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. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $223.60.

Check Out Our Latest Stock Analysis on CDW

CDW Company Profile

(Free Report)

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.

See Also

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