Resona Asset Management Co. Ltd. Takes Position in CDW Co. (NASDAQ:CDW)

Resona Asset Management Co. Ltd. acquired a new position in shares of CDW Co. (NASDAQ:CDW - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 39,528 shares of the information technology services provider's stock, valued at approximately $6,889,000.

Other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in shares of CDW by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 16,673,784 shares of the information technology services provider's stock valued at $2,901,905,000 after buying an additional 99,947 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of CDW by 1.6% in the fourth quarter. Geode Capital Management LLC now owns 3,535,405 shares of the information technology services provider's stock worth $614,220,000 after acquiring an additional 54,341 shares during the last quarter. Wellington Management Group LLP lifted its position in shares of 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 in the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of CDW by 31.3% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,414,093 shares of the information technology services provider's stock worth $420,149,000 after purchasing an additional 575,333 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in shares of CDW by 3.6% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,466,071 shares of the information technology services provider's stock valued at $255,434,000 after purchasing an additional 50,805 shares during the last quarter. Institutional investors and hedge funds own 93.15% of the company's stock.

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CDW Trading Up 1.4 %

NASDAQ:CDW traded up $2.10 during mid-day trading on Friday, hitting $148.80. The company had a trading volume of 1,815,288 shares, compared to its average volume of 1,161,657. 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 $137.31 and a fifty-two week high of $248.12. The firm has a market cap of $19.71 billion, a P/E ratio of 18.67, a P/E/G ratio of 3.21 and a beta of 0.97. The business's fifty day moving average is $172.21 and its two-hundred day moving average is $185.67.

CDW (NASDAQ:CDW - Get Free Report) last issued its quarterly earnings data on Wednesday, February 5th. The information technology services provider reported $2.40 earnings per share (EPS) for the quarter, beating 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%. As a group, research analysts expect that CDW Co. will post 9.41 earnings per share for the current year.

CDW announced that its board has approved a share buyback program on Wednesday, February 5th that allows the company to buyback $750.00 million in outstanding shares. This buyback authorization allows the information technology services provider to reacquire up to 2.7% of its shares through open market purchases. Shares buyback programs are usually an indication that the company's board of directors believes its stock is undervalued.

CDW Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 11th. Shareholders of record on Tuesday, February 25th were issued 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 1.68%. CDW's dividend payout ratio is presently 31.37%.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Barclays upped their price objective on CDW from $201.00 to $223.00 and gave the stock an "equal weight" rating in a report on Thursday, February 6th. Morgan Stanley upped their price target on CDW from $193.00 to $201.00 and gave the company an "equal weight" rating in a research note on Thursday, February 6th. Finally, UBS Group lowered their price objective on CDW from $233.00 to $220.00 and set a "buy" rating for the company in a research report on Tuesday, January 7th. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $235.50.

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.