CDW Co. (NASDAQ:CDW) Position Boosted by Aviva PLC

Aviva PLC increased its position in CDW Co. (NASDAQ:CDW - Free Report) by 1,447.5% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 80,469 shares of the information technology services provider's stock after purchasing an additional 75,269 shares during the period. Aviva PLC owned 0.06% of CDW worth $14,005,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. grew its position in shares of CDW by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 16,673,784 shares of the information technology services provider's stock worth $2,901,905,000 after acquiring an additional 99,947 shares in the last quarter. Geode Capital Management LLC boosted its holdings in 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 purchasing an additional 54,341 shares during the period. Wellington Management Group LLP increased its stake 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 valued at $441,848,000 after purchasing an additional 574,444 shares during the last quarter. Massachusetts Financial Services Co. MA increased its stake in 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 valued at $420,149,000 after purchasing an additional 575,333 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in shares of CDW by 3.6% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,466,071 shares of the information technology services provider's stock worth $255,434,000 after buying an additional 50,805 shares during the last quarter. 93.15% of the stock is owned by institutional investors.

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Analysts Set New Price Targets

CDW has been the subject of a number of recent research reports. Morgan Stanley boosted their price objective on shares of CDW from $193.00 to $201.00 and gave the company an "equal weight" rating in a research report on Thursday, February 6th. Barclays increased their price target on CDW from $201.00 to $223.00 and gave the stock an "equal weight" rating in a research report 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 note on Tuesday, January 7th. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $235.50.

CDW Stock Performance

CDW stock traded up $2.10 during mid-day trading on Friday, hitting $148.80. 1,815,288 shares of the company's stock traded hands, compared to its average volume of 1,161,657. The company has a quick ratio of 1.24, a current ratio of 1.35 and a debt-to-equity ratio of 2.38. CDW Co. has a one year low of $137.31 and a one year high of $248.12. The firm has a 50 day moving average price of $172.21 and a 200 day moving average price of $185.67. The company has a market cap of $19.71 billion, a PE ratio of 18.67, a price-to-earnings-growth ratio of 3.21 and a beta of 0.97.

CDW (NASDAQ:CDW - Get Free Report) last posted 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 net margin of 5.13% and a return on equity of 55.42%. On average, equities analysts forecast that CDW Co. will post 9.41 EPS for the current year.

CDW declared that its Board of Directors has initiated a share repurchase plan on Wednesday, February 5th that permits the company to buyback $750.00 million in shares. This buyback authorization permits the information technology services provider to purchase up to 2.7% of its shares through open market purchases. Shares buyback plans are generally an indication that the company's board believes its stock is undervalued.

CDW Dividend Announcement

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

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.