iA Global Asset Management Inc. Boosts Stake in CDW Co. (NASDAQ:CDW)

iA Global Asset Management Inc. increased its stake in shares of CDW Co. (NASDAQ:CDW) by 10.3% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 15,024 shares of the information technology services provider’s stock after purchasing an additional 1,408 shares during the period. iA Global Asset Management Inc.’s holdings in CDW were worth $2,615,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of CDW. Massachusetts Financial Services Co. MA acquired a new position in shares of CDW during the 3rd quarter worth about $416,111,000. Janus Henderson Group PLC raised its holdings in CDW by 7,029.1% in the 3rd quarter. Janus Henderson Group PLC now owns 1,466,597 shares of the information technology services provider’s stock valued at $331,891,000 after acquiring an additional 1,446,025 shares during the last quarter. Holocene Advisors LP acquired a new stake in CDW in the 3rd quarter valued at about $172,217,000. Madison Investment Advisors LLC acquired a new stake in CDW in the 4th quarter valued at about $130,996,000. Finally, Proficio Capital Partners LLC raised its holdings in CDW by 18,259.3% in the 4th quarter. Proficio Capital Partners LLC now owns 687,189 shares of the information technology services provider’s stock valued at $119,598,000 after acquiring an additional 683,446 shares during the last quarter. Institutional investors and hedge funds own 93.15% of the company’s stock.

CDW Stock Down 1.5 %

Shares of NASDAQ CDW opened at $165.57 on Friday. The company has a 50 day simple moving average of $184.40 and a 200-day simple moving average of $193.36. The company has a market capitalization of $21.94 billion, a P/E ratio of 20.77, a P/E/G ratio of 3.21 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 1.24. CDW Co. has a 1 year low of $162.84 and a 1 year high of $263.37.

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

CDW Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 11th. Investors of record on Tuesday, February 25th were given a dividend of $0.625 per share. The ex-dividend date of this dividend was Tuesday, February 25th. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.51%. CDW’s payout ratio is currently 31.37%.

CDW declared that its board has authorized a share buyback program on Wednesday, February 5th that authorizes the company to buyback $750.00 million in shares. This buyback authorization authorizes the information technology services provider to buy up to 2.7% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of research firms have commented on CDW. Barclays increased their price objective on shares of CDW from $201.00 to $223.00 and gave the company an “equal weight” rating in a report on Thursday, February 6th. Morgan Stanley increased their price objective on shares of CDW from $193.00 to $201.00 and gave the company an “equal weight” rating in a report on Thursday, February 6th. Finally, UBS Group cut their price objective on shares of CDW from $233.00 to $220.00 and set a “buy” rating for the company in a report on Tuesday, January 7th. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $242.67.

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.