Arrowstreet Capital Limited Partnership Acquires 24,084 Shares of CDW Co. (NASDAQ:CDW)

Arrowstreet Capital Limited Partnership boosted its stake in CDW Co. (NASDAQ:CDW - Free Report) by 62.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 62,724 shares of the information technology services provider's stock after acquiring an additional 24,084 shares during the quarter. Arrowstreet Capital Limited Partnership's holdings in CDW were worth $10,916,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CDW. Allworth Financial LP lifted its stake in CDW by 39.7% during the fourth quarter. Allworth Financial LP now owns 183 shares of the information technology services provider's stock worth $32,000 after purchasing an additional 52 shares during the last quarter. OFI Invest Asset Management bought a new stake in CDW in the fourth quarter valued at $32,000. Parkside Financial Bank & Trust lifted its stake in CDW by 38.9% in the fourth quarter. Parkside Financial Bank & Trust now owns 207 shares of the information technology services provider's stock valued at $36,000 after buying an additional 58 shares during the last quarter. Canoe Financial LP lifted its stake in CDW by 68.3% in the fourth quarter. Canoe Financial LP now owns 276 shares of the information technology services provider's stock valued at $48,000 after buying an additional 112 shares during the last quarter. Finally, ORG Wealth Partners LLC bought a new stake in CDW in the fourth quarter valued at $69,000. Hedge funds and other institutional investors own 93.15% of the company's stock.

CDW Trading Down 5.4 %

CDW traded down $8.61 during trading on Thursday, reaching $150.87. The company had a trading volume of 351,549 shares, compared to its average volume of 1,489,198. The firm's 50-day simple moving average is $174.25 and its 200 day simple moving average is $187.01. The company has a market cap of $19.99 billion, a price-to-earnings ratio of 18.93, a PEG ratio of 3.21 and a beta of 0.97. CDW Co. has a 12-month low of $137.31 and a 12-month high of $249.33. The company has a debt-to-equity ratio of 2.38, a quick ratio of 1.24 and a current ratio of 1.35.

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CDW (NASDAQ:CDW - Get Free Report) last issued its quarterly 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 anticipate that CDW Co. will post 9.41 earnings per share for the current year.

CDW announced that its board has authorized a stock buyback program 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 purchase up to 2.7% of its stock through open market purchases. Stock repurchase programs are often an indication that the company's board believes its shares are undervalued.

CDW Announces Dividend

The firm also recently disclosed 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 was Tuesday, February 25th. This represents a $2.50 dividend on an annualized basis and a yield of 1.66%. CDW's payout ratio is presently 31.37%.

Wall Street Analyst Weigh In

CDW has been the topic of a number of research analyst reports. Barclays raised their price target on CDW from $201.00 to $223.00 and gave the company an "equal weight" rating in a report on Thursday, February 6th. UBS Group lowered their target price on CDW from $233.00 to $220.00 and set a "buy" rating on the stock in a report on Tuesday, January 7th. Finally, Morgan Stanley lifted their target price on CDW from $193.00 to $201.00 and gave the stock an "equal weight" rating in a report on Thursday, February 6th. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, CDW currently has a consensus rating of "Moderate Buy" and an average target price of $235.50.

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.