Massachusetts Financial Services Co. MA Increases Holdings in CDW Co. (NASDAQ:CDW)

Massachusetts Financial Services Co. MA increased its stake in CDW Co. (NASDAQ:CDW) by 31.3% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 2,414,093 shares of the information technology services provider’s stock after buying an additional 575,333 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in CDW were worth $420,149,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Janus Henderson Group PLC increased its position in CDW by 7,029.1% in the third quarter. Janus Henderson Group PLC now owns 1,466,597 shares of the information technology services provider’s stock worth $331,891,000 after buying an additional 1,446,025 shares during the last quarter. Norges Bank purchased a new stake in CDW in the 4th quarter worth about $144,826,000. Madison Investment Advisors LLC bought a new stake in CDW in the 4th quarter valued at about $130,996,000. Proficio Capital Partners LLC lifted its holdings in CDW by 18,259.3% during the fourth quarter. Proficio Capital Partners LLC now owns 687,189 shares of the information technology services provider’s stock valued at $119,598,000 after purchasing an additional 683,446 shares during the last quarter. Finally, Wellington Management Group LLP boosted its position in CDW by 29.2% during the fourth quarter. Wellington Management Group LLP now owns 2,538,775 shares of the information technology services provider’s stock worth $441,848,000 after purchasing an additional 574,444 shares during the period. Institutional investors own 93.15% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on CDW shares. UBS Group lowered their price target on shares of CDW from $233.00 to $220.00 and set a “buy” rating on the stock in a research report on Tuesday, January 7th. Barclays boosted their target price 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. Finally, Morgan Stanley raised their price target on CDW from $193.00 to $201.00 and gave the stock an “equal weight” rating in a report on Thursday, February 6th. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $235.50.

CDW Trading Up 1.5 %

CDW stock opened at $164.47 on Thursday. The company has a debt-to-equity ratio of 2.38, a quick ratio of 1.24 and a current ratio of 1.35. CDW Co. has a fifty-two week low of $158.76 and a fifty-two week high of $263.37. The stock has a market cap of $21.79 billion, a P/E ratio of 20.64, a PEG ratio of 3.21 and a beta of 1.01. The firm’s fifty day moving average price is $180.64 and its 200-day moving average price is $190.34.

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

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

CDW Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 11th. Shareholders 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 annualized dividend and a yield of 1.52%. CDW’s payout ratio is presently 31.37%.

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.