CDW Co. (NASDAQ:CDW) Shares Acquired by Sumitomo Mitsui DS Asset Management Company Ltd

Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in CDW Co. (NASDAQ:CDW) by 13.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,611 shares of the information technology services provider’s stock after purchasing an additional 1,991 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in CDW were worth $2,891,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in CDW. Canoe Financial LP acquired a new position in shares of CDW in the third quarter worth about $37,000. Fortitude Family Office LLC increased its stake in shares of CDW by 350.0% in the 3rd quarter. Fortitude Family Office LLC now owns 171 shares of the information technology services provider’s stock valued at $39,000 after purchasing an additional 133 shares in the last quarter. Ashton Thomas Securities LLC acquired a new position in CDW in the 3rd quarter worth about $43,000. Covestor Ltd boosted its position in CDW by 80.1% during the third quarter. Covestor Ltd now owns 245 shares of the information technology services provider’s stock worth $55,000 after purchasing an additional 109 shares in the last quarter. Finally, Brooklyn Investment Group acquired a new stake in CDW in the third quarter valued at approximately $90,000. 93.15% of the stock is owned by hedge funds and other institutional investors.

CDW Stock Down 3.9 %

Shares of NASDAQ CDW opened at $192.02 on Monday. The company has a market capitalization of $25.59 billion, a P/E ratio of 24.09, a P/E/G ratio of 5.40 and a beta of 1.01. The company has a debt-to-equity ratio of 2.38, a current ratio of 1.35 and a quick ratio of 1.28. The company has a 50 day simple moving average of $183.86 and a 200-day simple moving average of $201.96. CDW Co. has a 1 year low of $168.43 and a 1 year high of $263.37.

CDW (NASDAQ:CDW) last issued its quarterly earnings data 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, equities research analysts predict that CDW Co. will post 9.35 earnings per share for the current year.

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

CDW Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 11th. Shareholders of record on Tuesday, February 25th will be given a dividend of $0.625 per share. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.30%. The ex-dividend date is Tuesday, February 25th. CDW’s dividend payout ratio is presently 31.37%.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on CDW. Barclays boosted their price target on shares of CDW from $201.00 to $223.00 and gave the stock an “equal weight” rating in a report on Thursday. JPMorgan Chase & Co. downgraded shares of CDW from an “overweight” rating to a “neutral” rating and reduced their price target for the stock from $260.00 to $235.00 in a research report on Monday, October 28th. Morgan Stanley lifted their price objective on CDW from $193.00 to $201.00 and gave the stock an “equal weight” rating in a report on Thursday. Redburn Atlantic started coverage on CDW in a report on Friday, November 15th. They set a “buy” rating and a $230.00 target price for the company. Finally, UBS Group lowered their price target on CDW from $233.00 to $220.00 and set a “buy” rating on the stock in a research note on Tuesday, January 7th. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, CDW has an average 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.