CDW Co. (NASDAQ:CDW) Shares Acquired by Asset Management One Co. Ltd.

Asset Management One Co. Ltd. raised its position in CDW Co. (NASDAQ:CDW) by 4.7% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 86,177 shares of the information technology services provider’s stock after buying an additional 3,871 shares during the quarter. Asset Management One Co. Ltd. owned about 0.06% of CDW worth $19,708,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. OFI Invest Asset Management acquired a new position in shares of CDW during the 3rd quarter valued at about $25,000. VisionPoint Advisory Group LLC acquired a new stake in CDW in the third quarter valued at approximately $28,000. TFC Financial Management Inc. boosted its stake in shares of CDW by 61.1% during the 3rd quarter. TFC Financial Management Inc. now owns 145 shares of the information technology services provider’s stock valued at $29,000 after buying an additional 55 shares during the last quarter. Altshuler Shaham Ltd purchased a new position in shares of CDW during the 4th quarter valued at approximately $33,000. Finally, Orion Capital Management LLC bought a new position in CDW during the third quarter worth $35,000. 93.15% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CDW has been the topic of a number of research analyst reports. Morgan Stanley lowered CDW from an “overweight” rating to an “equal weight” rating and set a $216.00 target price on the stock. in a report on Tuesday, December 12th. Barclays boosted their price target on CDW from $219.00 to $261.00 and gave the company an “equal weight” rating in a research note on Thursday, February 8th. JPMorgan Chase & Co. boosted their target price on CDW from $253.00 to $267.00 and gave the stock an “overweight” rating in a research report on Thursday, February 8th. Evercore ISI upped their price objective on CDW from $250.00 to $300.00 and gave the company an “outperform” rating in a report on Friday, March 22nd. Finally, Citigroup increased their price target on CDW from $255.00 to $295.00 and gave the stock a “buy” rating in a report on Thursday. Four analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $237.60.

CDW Stock Performance

CDW stock opened at $255.19 on Friday. The business has a 50 day moving average of $245.23 and a 200-day moving average of $224.64. CDW Co. has a 12-month low of $160.66 and a 12-month high of $263.37. The firm has a market cap of $34.25 billion, a PE ratio of 31.50, a P/E/G ratio of 2.86 and a beta of 1.09. The company has a quick ratio of 1.11, a current ratio of 1.23 and a debt-to-equity ratio of 2.46.

CDW (NASDAQ:CDW) last issued its quarterly earnings data 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. CDW had a return on equity of 73.93% and a net margin of 5.17%. The company had revenue of $5.02 billion for the quarter, compared to the consensus estimate of $5.32 billion. During the same quarter last year, the business posted $2.40 earnings per share. The firm’s revenue was down 7.7% compared to the same quarter last year. As a group, sell-side analysts expect that CDW Co. will post 9.88 earnings per share for the current year.

CDW Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 12th. Stockholders of record on Monday, February 26th were issued a dividend of $0.62 per share. The ex-dividend date of this dividend was Friday, February 23rd. This represents a $2.48 annualized dividend and a dividend yield of 0.97%. CDW’s payout ratio is 30.62%.

CDW announced that its Board of Directors has authorized a share repurchase plan 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 purchase up to 2.4% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its shares are undervalued.

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.